General
What is Grapple?
Grapple is an invoice financing company that connects Australian business with investors to free funds locked up in unpaid invoices. Our Invoice Finance platform is easy to use and allows companies to connect to a network of investors to quickly get their invoices paid early. Businesses can get their cash faster, for a small transaction fee & risk-adjusted discount, with absolutely no lock in contracts or ongoing costs.
How is Grapple different to factoring?
Factoring is invasive to customer relationships, locks you into long-term contracts, and charges high fees. It’s outdated and lacks innovation. It generally doesn’t allow you to do single invoice finance either. It’s a service that takes control of all debtors with long service periods and various security arrangements. In comparison, Grapple has no lock in contracts, is totally flexible and completely confidential.
Can I use Grapple?
Yes, if you are an Australian registered business who does business with other Australian businesses you’re good to go!
What is a valid ID?
This is driven by our anti-money laundering requirements but a valid ID is generally a current driver’s license or passport.
What are the regulations involved?
Grapple is AUSTRAC registered and has a complete AML/CTF programme in place to monitor our customers, but as invoice finance involves the purchase and sale of a business’s debts (i.e. normal trading) there is no one piece of legislation that covers our invoice finance operations.
What type of debtors get approved?
In short, our investors, like any investor, prefers government bodies or creditworthy listed entities, such as Telstra, Coles, or Stockland: • Large companies with revenue over $15m are more likely to be accepted. • Companies listed on stock exchanges, with private equity ownership or government debt are generally acceptable. • Profitable and have a strong balance sheet. • Australian.
How much does it cost?
When compared with traditional debtor finance firm, our charges can be as low as half their rates. We perform a risk-based calculation, meaning you get a tailored fee based on your business and more importantly your customers. For a price indication, please refer to the calculator or contact us for a tailored quote as soon as the same day!
Which industries do you work with?
We work with a wide variety of industries including manufacturing, professional services, wholesalers, transport, labour hire & recruitment. However, in most cases we cannot provide our services to businesses in the construction or retail sectors.
Will you fund invoices that are issued in advance?
Not usually. We fund invoices for goods and services that have been delivered, but can be flexible depending on the circumstances.
What is valid proof of delivery?
For an invoice to be funded, documents verifying the goods and services have been provided to and accepted by the customer, must be uploaded when requested. Acceptable documentation may include: • A purchase order. • Signed delivery dockets. • Approved timesheets. • Email service verification. • Signed contract with milestone sign off. We can arrange a direct confirmation through the confidential cloud verification process. Ask us how!
What is Grapple’s cloud verification service?
This verification system is the fastest and most discreet way that we can verify the invoice with your customers. If you’d like to know when your customer has verified the invoice, you can always check the progress in the verification status page on the platform. If you wish to re-send the email to your customer (for example if they have been out of the office or have lost the email), you can do so at any point on the verification status page. If you have any questions or concerns about any aspect of this process, feel free to get in touch with your Account Manager. If we don’t hear back from your customer after a few days, we will aim to call on behalf of your company (with your permission) in order to keep things moving along.
What is the difference between Selective Invoice Financing and Facility Invoice Financing?
Grapple offers two financing structures, which are applicable in different scenarios. Selective Invoice Finance is useful to businesses that would like to fund a few of their invoices and do not need ongoing funding. You may only need funding for a project for a certain period of time (i.e. just after Christmas), in this the case Selective Invoice Finance is for you. Facility Invoice Finance is used when you’d prefer to setup what is effectively a line of funding calculated on the value of your whole accounts receivable balance. This would allow you to draw funds up to a set limit as and when you need them. Facility Invoice Finance is good for when you need cashflow on a continual basis.
How do I know if Selective Invoice Financing or Facility Invoice Financing is the right choice for me?
You can always give us a call to discuss your situation, but in general you can tell which service is better suited for you by answering these questions.
-Do you need one-off funding of a small number of invoices?
Yes-Selective
-Do you need to have access to a line of credit secured by a large portion of your total invoice book?
Yes-Facility
-Do you have one or two large corporate or government customers that don’t pay you right away, and you need the funds locked up in their invoices to continue to grow your business?
Yes-Selective
-Do you have several large corporate or government customers that are always paying late and you want to fund their invoices on an ongoing basis?
Yes-Facility
Do I need to connect my accounting software to your system?
The simple answer is No. We do offer our clients the option to manually upload invoices that they wish to fund. A manual upload may be quick and easy, especially for Selective Invoice Financing. We also give you the option to connect your accounting software to our system, which may make Facility Invoice Financing more streamlined, but the manual upload option means that we can work with any accounting software you may be using.
Which accounting software do I need to have in order to fund my invoices through Grapple?
Because we are able to accept manually uploaded invoices, there is no specifically required accounting software.
We support connectivity to all the major online accounting packages including Xero, MYOB, Microsoft Dynamics, etc…
Where do the funds come from?
Grapple does not rely on any bank to provide funds for our service, instead your invoices are funded by a co-investment fund of many investors.
Is Grapple easy to use?
We’re not like other finance providers who want to lock you into contracts on their terms. Grapple is doing things differently. Grapple has no lock in contracts and complete freedom to choose when and how much you get funded. You are in control. Concentrate on growing your business, and not managing cashflow, by having Grapple on standby when you need it.
Do businesses go through a credit check for approval?
Yes, but don’t worry, it’s a quick and painless process and we’ll be there to guide you the whole way.
Will you contact third parties to process my application?
We will utilise third parties during our credit and anti-fraud checks. Our process will not affect your credit rating. This is all listed in our privacy consent form.
Is my financial data secure?
The security of your data is of upmost importance to us, that is why Grapple applies industry standard information security policies and procedures.
Why use Grapple instead of a bank overdraft?
Simply put, invoice financing grows with your business, thus it is a much better option than fixed repayment style financing such as a bank loan. Banks generally only provide overdrafts to companies with large fixed assets or property, making this type of financing unavailable to many growing companies. Your largest asset could be you debtors, which is not a fixed asset and can’t be used to open an overdraft facility with a bank.
What security does Grapple take over my business?
We secure our interest on the PPSR and will work with you to develop a security package that you are comfortable with and will be acceptable to our investors, this may include a GSA or Personal Guarantee.
We believe Banks and traditional providers have offered unfair terms to SMEs for a long time. We are levelling the playing field; SMEs no longer have to sign over private property or control of their business in order to get financing.
How is Grapple a more flexible service?
Sell invoices as often or as little as you want and only pay a transparent transaction fee on each invoice sold. Instead of charging a percent of the total invoice or your entire debtor book, we only charge you a percent of the amount funded. Raise cash without raising debt.
What if I want to stop using Grapple?
You can leave anytime. There’s no contract; it’s simply a pay as you go service. We charge no fees to open or close your account. We recommend that you keep your account open so you can always have access to quick funds, if need be. It costs absolutely nothing, so why not?!
Selective Invoice Financing
Are there minimum turnover requirements?
No, we can fund businesses with no trading history at all. The main requirement is that you have government or large corporate customers and invoices to be funded totalling over $5k.
How does it work?
1. Register an account for free, login and add your debtor, whose invoice you need to fund. We will then assist you through our painless, quick and free approval process. Once approved, you will be able to submit an invoice for funding. Simple!
2. When you have an invoice that you want to turn into cash, you simply upload the invoice to our platform and add the proof of acceptance of the goods and services by your customer. Alternatively, you can use our confidential cloud verification process.
3. Next, we will verify the invoice and send out your cash on the same day. You will receive exactly the amount you choose, up to the value of 90% of the invoice. Once the full invoice is paid by your debtor into your personal Grapple account we deduct our one-off fee, remit the funded amount plus interest to the investor and return the remainder to you.
4. Use our service as much or as little as you like, no lock in contracts or ongoing fees. It’s that simple.
How do I operate my Grapple account?
1. How do I register a new debtor?
Login to your Grapple account and Click the Register Debtor button on your Profile page. Once the debtor is approved, you can add invoices for funding.
2. How do I upload an invoice?
Click on the relevant debtor in your Grapple account page, and click the Submit invoice button.
3. How do I check the status of my funded invoices?
The status of any funded invoices is visible on your account page.
4. How do I close my Grapple account?
If you have no outstanding balance, you can contact us to close your account anytime. But there are no ongoing fees or charges of any kind for keeping your account open.
What are the fees?
We have only 2 fees – a flat Platform Fee and a daily Investor Fee. There are absolutely no set up, ongoing or minimum usage fees. It’s simply a funding on demand service.
The Platform Fee is a transactional fee, which we charge for the use of our platform in the sale of your invoice. It is calculated as a percentage of the funded amount and is payable on final settlement.
The Investor Fee is the fee, which investors receive as a result of their purchase of an invoice. It is charged as a percentage of the funded amount. It accrues daily up to settlement of the invoice with investors.
How do I pay my fees?
The platform fee and the accrued investor fee are added to your funded amount and are paid when your customer settles their account. The funded amount plus investor fee is sent to investors, the platform fee is retained by Grapple, and the remained is sent to you.
Do I need to provide security?
Not always. We concentrate on the growth of your business, strength of your customers and the projected sales, rather than any property or fixed asset security. We understand that a growing business can struggle to access the financing they need without security of property or assets and we have set out to solve this problem. If our investors require security, we will work with you to put a package in place that is acceptable to both you and our investors.
Will my customers know I’m using Grapple?
No – the process can remain confidential, if you wish. We understand that your customer relationship is key, and so will never do anything to jeopardise or interfere with this relationship, we’ll work with you to develop the format and process for any interaction with you client.
Will my customer be contacted for verification?
We can be completely discreet. However, before your invoices can be traded, we’ll need to confirm that the invoice details are correct and goods or services have been delivered. This will allow us to verify your invoices, so we can launch the trade and release your funds more quickly. Talk to us about our cloud verification process.
How will this work? Once you add your invoice details to be funded, we ask you to provide confirmation of the goods delivered or service performed, this could be through a delivery docket or timesheet approval. If you are happy for us to contact your customer, you can sign up to our cloud verification process (ask us how). This process will be customised for each situation to ensure it works for everyone, so contact us to discuss your requirements.
What advance rate will I get?
With Grapple, you can receive up to 90% of the total invoice value. However, the funded amount is completely up to you and you can choose the exact amount you want funded. Grapple puts you in control of the funding your business needs.
Do I have to sell all my invoices?
No, with the Selective Invoice Financing service, you can choose which invoices you want to trade and when. It’s completely in your control. There are no ongoing or minimum usage fees.
What kinds of invoices can I sell?
We have a minimum invoice value of $5,000. There is no maximum limit on the invoice value. The most important thing is that the invoice you/’/re planning to trade is to a creditworthy customer.
How long does it take to get my money?
Once registered, you can trade your invoice within minutes and receive funds against your invoice by the next business day.
What are the GST implications of the sale of my invoice?
GST is payable on the Platform Fee, this is included in our quote, but not on the Investor Fee. You will receive a Tax Invoice each time a Platform Fee is charged on settlement.
Can I only trade some invoices from my customer?
Trade as few or many invoices as you like. You can even choose to fund part of an invoice. It’s completely on your terms.
For the invoices you choose not to fund, as soon as your customer pays, we will immediately remit the full amount to your account. This is a seamless process and you will not notice any difference from your regular payment receipt.
Can I settle the trade early?
Yes, you can settle outstanding invoices at any time.
What if my customer pays late?
Late payments are not a problem. There are no late fees or penalties for a delayed payment. The Platform Fee is a flat fee, which doesn’t change based on time outstanding. The investor fee is calculated daily and is paid at settlement for the number of days your invoice is outstanding.
What if my customer doesn’t pay?
Grapple will not chase your customer until we have attempted to discuss any action with you. You are ultimately responsible for collection of the invoice.
Facility Invoice Financing
Are there minimum turnover requirements?
No, we can fund businesses with a minimum of a couple of months trading history. The main requirement is that you have government or large corporate customers and invoices to be funded totalling over $5k.
How does it work?
1. Register an account for free. We will then contact you and assist you through our painless, quick and free approval process.
2. When you have an approved account, connect your accounting software to our system or use our online upload tool to create your pool of invoices. Tell us how much you would like to fund, up to the approved amount.
3. Next, our system will choose the best invoices to fund, we will verify the chosen invoices and send out your cash on the same day. You will receive exactly the amount you choose, up to the approved limit. Once the full invoice is paid by your debtor into your personal Grapple account we deduct our one-off fee and adjust your available facility balance.
4. Use our service as much or as little as you like, no lock in contracts or ongoing fees. It’s that simple.
How do I operate my Grapple account?
1. How do I register a new debtor?
Just add debtors to your ledger as normal and invoice them, we will see the new debtors’ invoices when you load your ledger. We’ll undertake a quick review process and adjust your availability so you can draw the cash quickly.
2. How do I upload a ledger?
If you’ve connected your accounting software you don’t need to worry, we’ll keep our system updated daily with any changes in your accounting system, otherwise its as simple as dragging your ledger file onto our platform web portal to upload a ledger.
3. How do I check the status of my funded invoices?
Our online web portal allows you to see the status of all your invoices in the ledger.
4. How do I close my Grapple account?
Just get in contact and we’ll work with you to close all outstanding funding.
How much financing can I get?
Facility limits will vary based on your accounts receivable. You will be approved for a percentage of your invoice book, the total of which will automatically adjust as you raise and close invoices. Your available funds will grow with the growth of your business.
What are the fees?
We have only 2 fees – a flat Platform Fee and a daily Investor Fee. Depending on the size of your book we may charge an initial set up fee but, there are no ongoing fees. We realise that this is something the industry has gotten wrong – too many complex and confusing fees! Grapple’s invoice finance facility is simply a funding on demand service.
The Platform Fee is a transactional fee, which we charge for the use of our platform in the management of your facility. It is calculated as a fixed percentage of the funded amount and is payable on final settlement.
The Investor Fee is the fee, which investors receive as a result of their purchase of an invoice. It is charged as a percentage of the funded amount. It accrues daily up to settlement of the invoice with investors.
Do I need to provide security?
For an invoice finance facility our investors require a security package which may include PPSR registrations, GSA, and Personal guarantees. But ultimately, we concentrate on the growth of your business, strength of your customers and the projected sales. We understand that a growing business can struggle to access the finance they need without security of property or assets and we have set out to solve this problem.
Within the Facility Invoice Financing service, each invoice acts as security for the other invoices making this an attractive choice for our investors and keeping your financing costs low.
Will my customers know I’m using Grapple?
The process can remain confidential. We have a process to change the bank account details on the invoice to your Grapple account and that’s pretty much it! We understand that your customer relationship is key, and will not interfere with this relationship, we’ll work with you to develop the format and process for any interaction with you client!
Will my customer be contacted for verification?
We can be completely discreet. However, before your invoices can be traded, we’ll need to confirm that the invoice details are correct and goods or services have been delivered. This will allow us to verify your invoices, so we can launch the trade and release your funds more quickly. Talk to us about our cloud verification process!
How will invoice verification work?
Once you upload your ledger, we’ll select a sample of invoices and ask you to provide confirmation of the goods delivered or service performed, this could be through a delivery docket or timesheet approval. If you are happy for us to contact your customer we can contact them directly to confirm. This process will be customised for each situation to ensure it works for everyone, so contact us to discuss your requirements.
What advance rate will I get?
With Grapple, you can receive up to 90% of the total accounts receivable value of your business. However, the amount you drawdown is completely up to you. You will see how much you have drawn and how much is available when you log into your account. Grapple puts you in control of the funding your business needs.
Will all my invoices be available for funding?
As part of the Facility Invoice Financing service, we evaluate all of your debtors and some invoices may not be approved for funding. In addition, depending on how much you decide to drawdown, some invoices may remain unfunded. The available balance will change based on new invoices raised and invoices closed. How much you fund is completely in your control. There are no ongoing or minimum usage fees.
What kinds of invoices can I fund?
We have a minimum invoice value of $100. There is no maximum limit on the invoice value. The most important thing is that the invoice you’re planning to trade is to a creditworthy customer.
How long does it take to get my money?
There is a bit of a setup process but we’ll walk you through what that looks like. Once you have accepted our offer, connected to our systems, you can drawdown on your facility within minutes and receive funds against your invoices as early as same day.
What are the GST implications of the sale of my invoice?
GST is payable on the Platform Fee, but not on the Investor Fee. You will receive a regular Tax Invoice detailing the fees charged on settlement.
Will all my outstanding invoices form the facility?
Within the facility, not all invoices may be approved for funding. For invoices that are either not approved, or not currently funded, as soon as your customer pays, we will immediately remit the full amount to your account. This is a seamless process and you will not notice any difference from your regular payment receipt.
How do repayments work?
Payments from your clients are to be directed into your Grapple account which is set up in the name of your business. Payments into this account for funded invoices will decrease your outstanding facility balance.
How do I pay the fees?
Fees are automatically withdrawn from invoices that are paid by your customers. Grapple retains the platform fee, investors receive the funded amount plus their return and the rest is remitted back to your account.
Can I settle the trade early?
Yes, you can repay the outstanding facility amount at any time.
What if my customer pays late?
Late payments are not a problem. There are no late fees or penalties for a delayed payment from your customer. Investor return fees are charged on the whole outstanding amount, which will decrease when any customer payments from financed invoices are received.
What if my customer doesn’t pay?
Grapple will not chase your customer for payment. You are ultimately responsible for collection of the invoice. We may request that you repay the advance, take it from your next drawdown or contact your customer for payment, but rest assured we won’t do any of this without attempting to contact you.
Privacy & Security
How does Grapple access my data?
Grapple will ask for various financial information on your business as part of your application process. We may also access information on your business from third parties such as ASIC, and reputable credit agencies. If you connect your accounting system with Grapple, we will be receiving your data via a standard Application Program Interface (API) from your accounting software which is controlled by you.
What data does Grapple access?
Grapple will review your company invoice and related financial information to evaluate whether our service is right for you and to calculate your specific interest rate. The information we review may include: Invoices, Bank Transactions, Profit & Loss statement and Balance Sheet.
Does Grapple share my company data?
Upon your authorisation and as a part of our credit assessment process, we share your company and personal identifier information with reputable credit agencies in order to obtain credit information and with third party identity verification services in order to meet our Anti-Money Laundering and Counter-Terrorism Financing obligations. Outside of those instances, we will not share your information with any other third parties.
How does Grapple protect my data?
Your data is transferred using industry standard encryption technology. Grapple houses your data within an Australian data centre configured with multiple firewalls and network intrusion detection technology. All Grapple employees meet stringent employee checks and only those with a direct requirement can view your data.
Will Grapple contact my customers?
Grapple will not contact your customers before we’ve contacted you. We know that your relationship with your customers is of upmost importance, so our service is confidential where possible.