TL;DR: Sole traders can use invoice finance. If you invoice your customers on credit terms, FundTap lets you access the cash the same day you’re approved. No minimum turnover and no lock-in contracts.
Invoice Finance Works for Sole Traders
Many traditional invoice finance providers set a minimum annual turnover, which excludes most sole traders. FundTap has no minimum turnover requirement. If you invoice your customers on terms, you can use the service.
When It Makes Sense
- You invoice your customers on 14–60 day terms
- Slow payment limits your ability to take on new work
- You have regular outgoings that cannot wait for customers to pay
- You want to avoid credit cards to cover the gap
How It Works
- Connect your Xero, MYOB, QuickBooks, Reckon account to FundTap
- Select the invoices you want to fund
- Get funded the same day, once approved
- When your client pays, the advance is settled
No Minimum Turnover, No Lock-In
FundTap charges a single fee from 4% per invoice, quoted upfront before you commit, plus a daily rate for the funding period. There are no monthly fees, no minimum volumes, and no lock-in contracts. Use it when you need to, and not when you do not.
Yes. FundTap has no minimum turnover requirement. If you invoice your customers through Xero, MYOB, QuickBooks or Reckon, you can use FundTap.
Yes. FundTap funds registered businesses in Australia and New Zealand that invoice their customers on terms.
It depends on what the cash enables. The fee starts at 4% of the invoice plus a daily rate for the funding period, with a minimum fee of $40 on invoices under $1,000, and the exact fee is quoted before you commit. The minimum invoice value is $300.
A personal credit check forms part of approval, and that check is recorded on your credit file.