1k to 60k
7 to 90 days (when Invoice is due)
starting at 1%, no other charges
Directly from Customer
- Singapore registered company
- At least 6 months in business
- completed or delivered goods and services.
- Not between related parties.
Multiply offers an Invoice Factoring Service. We buy over your outstanding invoice, and provide you an early payment, less our fee. Your customer pays us directly when the invoice is due.
Your Customer will be informed of this arrangement, and will pay us directly. Other details of our arrangement (including fee) will be kept confidential.
If your Customer defaults on the invoice payment, Multiply seek recourse from them, and not you. We will handle all late and defaulted payments.
Find out more about Factoring from The Factoring Guru
HOW DOES IT WORK?
- Choose an Invoice and submit your application online. You can choose to receive the full invoice amount, or a smaller partial amount, depending on your cashflow needs. The fee will be cheaper if you select a smaller amount.
- If approved, you will receive an online letter of offer.
- Your customer will receive an acknowledgement email to confirm that your work has been accepted and that the payment will be made to us.
- Once both documents are signed, Multiply will disburse the agreed amount to your bank account, less our fees.
- Multiply informs you once payment is received from your customer.
- If you have chosen a partial payment , Multiply refunds you the outstanding amount after we receive full payment from your customer.
- Multiply will handle collection for delayed payments.
WHEN CAN MULTIPLY BE USEFUL?
- Multiply can be used to ease short-term cashflow problems, allowing businesses to unlock payments for work already done.
- Multiply frees up a business owner’s time and resources from chasing for payments. We take over collection, and will deal with payment delays and defaults
- Multiply is not a loan, and will not burden you with extra debt.
- If you want to keep your personal life out of your professional life, we do not require personal guarantees!