Determine the total cost of your invoice financing. 

Invoice Financing Calculator

Get financing that works for you.

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Short Form Inquiry (Loan Types Pages)

Step 1 of 2

How much do you need?

Estimated Factor Rate

Estimated Term

Payment Frequency

$183/day
Total Repayment:
$1,725
Number of Payments:
9

Find out if you qualify for invoice financing.

We value the overall health of your business, not just your credit score.
This helps us work out the most benefitial options for you, regardless of your business history.

Time in Business

We evaluate how long you’ve been in business and repayment history.

Annual Revenue

We look at your annual revenue and review your daily balances.

Performance

Don’t worry, your credit score or defaults won’t be the deciding factor

What is invoice financing?

Asset-based lending includes invoice finance. It occurs when a company’s accounts receivable are used as collateral. collateral. Accounts receivable financing is a general word that encompasses both invoice financing and invoice factoring, which are comparable yet distinct.

This factoring entails the purchase of your receivables. The majority of these factoring companies will collect on your behalf from your consumers. Invoice finance lends you a percentage of your incoming invoices and collects the money from you immediately.


Can I afford invoice financing?

It’s critical to find the best financing solution for your company. Take into account all of the variables, including interest rates, term agreements, and benefits. To determine whether invoice finance is the best option for you, add everything up and see what the numbers look like.

To figure out your payments and total cost throughout the life of your loan, use the following formula:

  • First, input the amount you want to borrow.
  • Estimate the factoring fee next. This is usually between 1% and 3% of the total. Set the net terms to be applied on a weekly basis.
  • Finally, add up all of the variables and figure out how much you’ll have to pay.
  • We suggested experimenting with several options to give you a variety of results.

Understanding your results

The computed results show the total repayment, the cost of the loan, and the weekly or monthly payment.

Here’s what the figures reveal:

  • Loan Costs
  • Payment
  • Repayment Amount

It’s simple to compare loan possibilities with this information, whether you’re comparing lenders or deciding between a 12- or 18-month term.

We lay down the variations in your options, whether it’s a 12-month or 18-month term, to ensure you’re getting the best bargain available.

Our short-term loan calculator can provide you an accurate estimate of your financial costs. Borrowers are concerned about being able to make timely payments. Payment is necessary, but it is only one part of the picture.

Pros and cons of invoice financing

You may start determining your financing alternatives once you understand how to calculate the interest on a short-term loan. The advantages and disadvantages of invoice financing. It can be paid off faster than the ordinary loan, but it comes with its own set of hazards.

Let’s make a comparison.

PROS:

Quick access to funds in cash

There is little to no paperwork involved, and monies are available the same day!

Interest rates are at historic lows.

Interest rates range from 1 percent to 3 percent.

There is very little to no paperwork necessary.

The most you’ll need to get accepted is an outstanding invoice.

  • CONS:

    Interest rates that are higher

    The majority of short-term loans start at 10%, but depending on the size of the company, they might go much higher.

    Payments that are made often

    These payments are normally made once a week or once a month.

    Payments that are higher

    The combination of high interest and frequent payments could be troublesome in the long run.

    We encourage that you experiment with different scenarios with factor rates, terms, and advance amounts, whether you have specific numbers in mind or are unsure where to start. This can assist you in determining what you can and cannot afford, as well as determining the best plan for you.


Comparing and evaluating short-term business loan offers

Comparing the terms of each loan offer will help you decide which is the best option for you if you have more than one loan offer on the table.

Here are some pointers to help you choose the best offer for you:

Think about how much each lender is willing to provide you. Examine APRs for reduced rates.

Look into the different repayment terms. Choose a timeframe that is most convenient for you and your company. Consider the particulars.

Most importantly, be sure your company is financially sound enough to take out a short-term loan. Make a plan for your future success.

How to access invoice financing

It’s now easier than ever to get money for your business. Funders can now readily insure a firm with less paperwork and documentation thanks to advances in online technology.

Here’s what you’ll need to meet the requirements:

  • 3+ months in business
  • $110K+ annual revenue
  • 550+ credit score

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Got some questions?

This is a financing option that allows businesses to borrow money against the amounts due from customers. 

This helps improve cash flow, pays employees and suppliers, and any other business related investments. 

This is a financing option that allows businesses to borrow money against the amounts due from customers. 

This helps improve cash flow, pays employees and suppliers, and any other business related investments. 

Invoice financing is similar to a line of credit while business term financing can be a cash funded loan. Invoice financing is beneficial for long term use and purchases that don’t require cash up front.

There are a few options when choosing invoice financing., each slightly different in their own ways. 

  • Invoice Factoring
  • Invoice Financing Services
  • Receivable-Based Line of Credit

The main difference amongst these choices are percentage rates

Invoice financing is a popular option for many businesses at the moment, but there are definitely factors to consider when making the decision.

They have fast approval, flexible credit, and minimal paperwork. But they also come with high interest rates, invoices are needed as proof as collateral, and their approval rates are low. 

By filling out our  online application or giving us a call and speaking to one of our representatives who can help guide you through it, we can help get you funded ASAP!

Please be mindful that we review these things here when putting in your application:

  • Annual/Monthly Revenue
  • Length in Business
  • Credit Score

Meeting minimal requirements still gives you a likely chance. 

A healthy business is vital because it gives the overall summary of how your operations have been running. A good credit score is important but it is not the major key to making or breaking your approval rate for a line of credit.

At NYTG, we prefer that your business have an overall healthy status. This includes being in business for some time, having a good monthly revenue coming in, and making payments on time where it’s due.