Invoice finance from Waddle

Eligible small businesses can access business finance from Waddle, based on unpaid invoices within Xero.

An office manager sends invoices from Xero.

Smooth out cash flow with funds from Waddle

A revolving line of credit

Waddle is a revolving line of credit that offers businesses to access money tied up in unpaid invoices.

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    Access the money you’re owed when you need it
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    Smooth out cash flow bumps
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    Use funds to cover expenses
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    Free up working capital for pursuing new opportunities
A screen showing a quote for funds for a business and a menu list of other Waddle options

Flexible finance when needed

Waddle can help businesses that would benefit from a larger overdraft or need an alternative finance option.

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    Works for businesses with 30-day or longer payment terms
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    Suits businesses that have regular and reliable customers
A mouse hovers over an Apply button

Check if you’re eligible

Waddle assesses applications against their eligibility criteria. Businesses need to:

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    Invoice other Australian businesses
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    Have been trading for a minimum of six months
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    Have at least $10,000 in unpaid invoices
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    Have Australian-based directors
A checklist of the eligibility criteria for invoice finance.

How it works

Waddle uses data from unpaid invoices in Xero to determine the amount of funds available at any time.

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    Unpaid invoices issued to overseas businesses aren’t counted
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    Draw down against invoices aged no more than 90 days
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    Draw down the amounts you need, as often as you need
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    Repayments are made automatically as invoices are paid

Hassle-free and confidential

Share information from Xero directly with Waddle to support your application.

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    Apply and get a quote to see your interest rate
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    Get an ongoing live view in Xero of how you’re using Waddle
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    No fixed-term contract or obligation to use the service
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    Waddle is confidential: your customers aren’t contacted

How fees and costs are calculated

Pay interest only on the amount of credit used, for the time you use it.

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    Your interest rate is based on your risk & credit assessment
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    An annual account fee is charged monthly
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    The annual account fee is a % of your maximum credit
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    There are no exit or drawdown fees

More about Waddle and Xero

Xero acquired Waddle in August 2020. While Waddle is part of the Xero family, it runs as a standalone company. Waddle is the financial provider, while Xero makes it easier for you to apply and access working capital to help manage cash flow.

Read the blog announcing Xero’s acquisition of Waddle

Get your books up to date before you request an indicative quote and make an application to Waddle from within Xero. Waddle uses the data in Xero to assess the application. If it’s approved and you’ve set up Waddle, the funds could be in your account within 24 hours.

Indicative quotes for the amount a business could access are made up of roughly 80% of unpaid invoices. The available funds vary over time as unpaid invoice amounts change. So the level of funding could increase as your business grows, offering you the flexibility to continuously access the cash if and when you need it. Not all invoices are eligible, and Waddle’s eligibility requirements apply.

Note that Waddle registers a general security interest in the business and requires personal guarantees from directors.

When you consent to sharing your Xero data, Waddle can access your business information and related financial information to assess your application, to provide you with a live view of available funds, and to manage your drawdowns. This information is treated as per Waddle’s privacy notice.

View Waddle’s privacy notice

Any debtors who pay an invoice contribute to paying off the outstanding balance. As long as debtors keep paying their invoices and your business’s outstanding balance doesn’t exceed the maximum credit limit, the facility keeps revolving even if some debtors don’t pay their invoice within 90 days.

Read more about Waddle in the answers to frequently asked questions.

Waddle FAQs

Use Xero with Waddle

Access all Xero features for 30 days, then decide which plan best suits your business.

Connect your Waddle account

If you’re already using Xero, set up Waddle from the Xero App Store.