Earlypay Review (formerly known as Skippr)

Skippr (now EarlyPay) was founded in 2016 by Patrick Crivelli and Alistair Lamond out of Sydney, NSW when they saw an opportunity to assist SMEs in Australia in getting a better understanding of their cash flow situation. In the meantime, some things have changed a bit. They have rebranded to EarlyPay. But they kept the same vision of helping SME’s run their businesses as easy as possible.

EarlyPay operates as an online debtor financing solution. As a new company in the Fintech world, EarlyPay offers solutions for SMEs to meet and understand cash flow needs.

This review of EarlyPay will help you better understand your options for debtor financing for your businesses cash flow problems. When your business has a cash flow shortage it is important for businesses to understand what their choices are outside of traditional financing with banking institutions.

🌐 Website:https://www.earlypay.com.au
®️ Logo:earlypay new logo
📝 ABN:88 098 952 277
📝 Credit License:098 952 277
💰 Loan Amount$50k – $15 million
⏲️ Loan TermVaries
💸 Unsecured Loans?No, loans are secured by invoice financing
⌚ Lender RequirementsAustralian Business with Invoicing
📃 Required:Present an ABN or ACN and the outstanding invoices with other businesses from Australia.
⏱️ Response Time:Approval within 24 hours and funding within 48 hours
🌝 Easy to Apply:Yes

The Nitty-gritty

💌 Online Reviews:4.8 / 5 – Based on 158 Trustpilot Reviews
🏆 Awards and Recognition:EarlyPay is a company listed on the ASX with the ticker EPY
💳 Minimal Interest Rates:From 4.95% to 11.95% p.a
⚖️ Advantages
  • Big range of funding amounts
  • They don’t require assets or real estate as security
  • No lock-in contracts
  • No minimum monthly turnover
⚖️ Disadvantage’s
  • Relatively few client reviews online
  • Smaller in size than competitors like Prospa
  • Fund facilitator / commercial aggregator and not lender
Compare EarlyPayCompare EarlyPay with 30+ Australian Lenders on Lend.com
Review Table of Contents

EarlyPay Alternatives in Australia – Compare your Best Options


Short Summary:

earlypay logoEarlyPay finances SMEs in Australia who need funds for cash flow management. EarlyPay goes above and beyond for its clients by offering a free cash flow forecasting tool. This tool is instrumental in aiding businesses in seeing when they cash flow will be short and when funds may be needed. This not only helps their clients know when they are going to be short on cash but know when they need to apply for additional funding through EarlyPay. Giving their customers foresight is key in helping SMEs across Australia understand their companies’ finances.

Company Story

The goal at Earlypay is to be the alternative to a traditional bank. No more endless paperwork and exasperating phone calls. Quick and easy, online onboarding clients to save them time and focus on growing their business.

Started as a small business itself in 2001, Earlypay has grown to be an ASX-listed company (ASX:EPY) and a market leader in providing tailored financing solutions to businesses of all shapes and sizes.

EarlyPay Client Reviews

The 158 reviews on Trustpilot with an average rating of 4.8 / 5 shows that the company is really helping many businesses in Australia. It’s not one of the other similar companies that have just recently come to life and no reviews can be found online.

The big number of positive reviews let us believe that their services are in line with what they show on the website.

As for the negative reviews, most of them are from people that didn’t fully understand the terms of their loans or how and when the repayments are made and so on. One negative review is just from a person frustrated that their loan request has been declined.

On every single negative review, a representative from the company has chimed in to offer explanations or to provide further support.

Client Reviews – Data:

– Trustpilot Reviews: 158 Reviews, 149 Positive, 4 Neutral, 5 Negative – Average score 4.8 / 5

Analysis of Client Reviews:

Overall great reviews meaning that the company offers a good service. The few negative reviews are not about the product they offer.

EarlyPay Compatibility

  • Startup: Yes, young companies are allowed to use EarlyPay.
  • Bad credit: Yes, while it is not stated, nothing is stated against working with businesses with bad credit.
  • Sole trader: Yes.
  • Minimum Monthly Turnover: No minimum monthly turnover.
  • Established business: Yes, EarlyPay will accept any established business.
  • Maximum Loan Amount: $15 million is the maximum loan amount.