Fifo Capital Review
Founded in 2005 Fifo Capital International Ltd has franchise locations in New Zealand, Australia, Ireland and the United Kingdom. Fifo Capital is a New Zealand company #3856976, this review will be focused on Fifo Capital Australia based out of Melbourne, VIC. Fifo Capital began funding clients in Australia in 2007. In Australia alone, there are over 70 dedicated business partners to help you with your finance needs and questions.
This review of Fifo Capital will help you better understand your financial options when it comes to borrowing funds for your business through business invoice financing. When you need funds quickly, Fifo Capital can help fund your business needs.
Fifo Review in Numbers
|Australian Business Number (ABN):||78 121 427 183|
|Australian Credit License:||121 427 183|
|Loan amount:||from $5,000 to $500,000|
|Loan term:||3 to 12 months|
|Unsecured Loans Offered?||No, the loans are given in exchange for the open invoices or stock|
|Easy Online Application:||Yes|
|Response Normally Within:||24-48 Hours, funding within 4 hours|
|Documents Required to Apply:||Unpaid invoices for Invoice Finance, finance documents / bank documents for a Business Loan, and for a Customer Payment Loan, it is handled on a case by case basis.|
|Requirements to Apply:||Business must have an ABN and it must sell to other Australian businesses on credit.|
|Minimal Interest Rates:||Fees vary by financing options: Invoice Financing, Business Loans or Customer Payment Loan|
|General Feedback from Clients Online:||Facebook reviews are specific to franchisee locations, but customers are satisfied.|
|Awards and Recognition:||In 2013 SmartCompany.com awarded Fifo Capital a spot in the 50 fastest growing companies. Also, in 2013 Fifo Capital received a prestigious award from BRW as the 30th fastest growing company in Australia|
Fifo Capital offers several types of financing for its clients. They offer Invoice Finance, where Fifo buys unpaid business to business invoices from customers at a discount, giving their customers the cash up front and allowing the invoiced customers terms to repay the invoice. This Invoice Financing can be a win win for both businesses involved in the transaction. Fifo Capital’s client gets their funds now and Fifo Capitals Clients’ customers receive time to repay the invoice.
Fifo Capital also offers Business Loans and Customer Payment Loans. All of their financing is for amounts beginning at $5,000 up to $500,000. These financing options must be secured by either business to business invoices or stock. Fifo Capital will review applications within a 48 hours period. Repayment terms on loans or customer repayment options vary between 3 to 12 months.
Alternatives to Fifo:
Fifo Capital was founded in 2005 in New Zealand and came to Australia in 2007. Fifo Capital is a business model for franchisees to provide funding for their clients all over Australia. They have over 70 business partners that are educated and ready to assist clients in their financial decisions about the best way to finance their cash flow needs. Business partners are trained to be able to answer small business owners’ questions about the best way to handle their cash flow problems and what is the best way to secure their financing.
Since Fifo Capital locations are owner operated franchises clients can be sure that they will receive the best service possible as local owners are generally the primary business partner that clients will speak with. Knowing you are working with the owner of the franchise should instill a certainty that you are in good hands. While some franchises have grown substantially and have hired staff to assist in their business practices, as local owners they will always be very hands on to ensure that customers have the best experience possible.
Fifo Capital Client Reviews
According to client reviews on Fifo Capital Australia’s section of What Our Clients Say, they have clients that state the Fifo Capital was integral in enabling their businesses to grow. Providing funding while clients’ customers had time to pay enabled clients to focus on their day to day business instead of struggling to make ends meet. One company even attributes their businesses survival to Fifo Capital being able to deliver what she needed to keep her company going.
Being a business to business finance relationship organisation finding reviews on Fifo Capital as a whole or by business partner may be hard to come by as many businesses do not want their customers, friends or family to know that their business is having cash flow problems.
Fifo Capital Reviews – Data:
– Facebook Reviews: 5 Reviews, 5 Positive Reviews, 0 Neutral Reviews, 0 Negative Reviews – Average Score 5.0 *based on individual Facebook Business Partner pages
Analysis of Client Reviews:
With little to no public reviews of Fifo Capital it leaves one to believe they are operating their business with little to no complaints from their customers. Many people equate cash flow problems with failure, and this is just not the case. Businesses could be selling products and services like crazy but allowing their customers to pay on terms can create a financial crunch. Looking for businesses to claim that they were not able to get funding could make others think that their business couldn’t get financing therefore they must be in trouble. No business owner wants their clients to ever think they are struggling even if it is only with cash flow.
Having outstanding invoices that customers need to pay does not mean a business is failing. Fifo Capital understands this and works with their customers in a professional manner to which leaves many of them satisfied or even returning customers.
Fifo Capital Loan Compatibility
Startup: No, Fifo Capital works with businesses that have business to business credit through invoicing.
Bad credit: Yes, Fifo Capital generally does not pull credit.
Sole trader: Yes, Fifo Capital will work with Sole Traders as long as they operate business to business for their clients.
Established business: Yes, Fifo Capital will work any established business that does business with other businesses as their client base.