how to up broker commissions and referral fees with a single introduction
Brokers: introduce your small business clients to thornmoney’s invoice financing service so they can increase cashflow and you can boost your commission.
At thornmoney, we work with brokers from all over Australia who are seeking competitive, flexible asset finance solutions for their clients. We appreciate every partnership, and just like brokers, we want to help the people we work with in as many ways as we can.
This is why we offer bonuses and commissions to brokers who refer their clients to our invoice finance service.
how invoice finance helps small business
Invoice finance or ‘line of credit’ isn’t the same as an asset finance loan because it isn’t paid off in installments.
Thornmoney has invoice finance clients from all over Australia. The strategy works by connecting our system to the clients’ MYOB, Xero or other invoicing platforms. When the business issue an invoice, thornmoney pays up to 85% of the amount within hours. Once the client has made the payment, we recoup our share of the funds (plus a small fee), and the debt is resolved.
The benefit of invoice finance for business owners is having fast access to the cash they are owed from their clients. It’s a low-risk prospect because they have already done the work. The product simply fills the gap between an invoice being issued and the time it takes to be paid (which can often be up to 60 days). The arrangement is also ongoing; there is no need to make a fresh application for funds when the business issues a new invoice.
Let us help you reach your revenue target with our invoice finance
connect your clients to thornmoney and earn trail commission
Many of our broker clients do not realise we pay commission for successful invoice finance referrals.
If you refer one of your clients to us and they come on board, we will pay you 50 per cent of the establishment fee, which is usually 0.5 per cent of the limit the client signs on for.
For example, if a client signs up for invoice finance with a million-dollar limit, we would charge an establishment fee of $5,000. Of this, $2,500 will go to you.
In addition, as the referring broker, you will earn a monthly trail of 7.5%* of the income we make from your client. This isn’t the income we earn from interest, but from the net we generate.
*This rate may change from time to time.
all it takes is an introduction
As a broker, you earn a commission from coordinating asset finance loans but you do have to work for it by gathering documents from your clients, submitting applications etc.
With invoice finance, the only thing you need to do is make the introduction. If the client is approved for invoice finance through thornmoney and stays with us for the long term, it’s an excellent opportunity to boost your income.
Want less work and more money through your business? There are probably several clients you can think of who would benefit from the flexibility invoice finance can give them. The strategy is an excellent, cost-effective way to stay on top of cash flow without larger credit card or loan fees.
As an independent lender in Australia, we take the time to walk each client through the invoice finance establishment process. We are proud to have 92% positive reviews on TrustPilot. Feedback praises our “excellent service, fast response and friendly staff.”
When it comes to our invoice finance integration with Xero. Users give the thornmoney platform the thumbs up, saying that “The installation process was simple and done in no time at all. The system is so easy to navigate and use and funding is immediate.”
We’ve invested a great deal into this service so you can refer your clients with confidence. We are so pleased to pay commission and referral bonuses in return for your support as a valued broker partner.
If you would like to know more about connecting your clients with a low-touch invoice finance solution, reach out to thornmoney today.
Disclaimer: This information is for general information purposes only. Therefore, the information contained herein does not constitute financial or professional advice or a recommendation. Ultimately, it has not been prepared with reference to your financial circumstances or business and should not be relied on as such. You should seek your own independent financial, legal and taxation advice as to whether or not this information is appropriate for you.
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