Invoice Finance – Progress Claims

Discovering the right assets

Hermes has a number of innovative capital solutions to help your client stay afloat and in control in times of turbulence. Does your client have an urgent funding requirement, and the right assets to support the funding? Sometimes the “right assets” means a debtors ledger of progress claims for a small business in the construction, civil engineering or mining services business. A Hermes Progress Claim Finance Facility tailored for progress claims ensures that contractors and project-based businesses can access cash flow tied up in staged invoices, keeping projects moving without delays.

What is Progress Claims Invoice Finance?

Progress Claims Invoice Finance provides businesses with access to capital by funding invoices raised under progress claim structures. This allows contractors to maintain steady cash flow even when payments are received in stages over a project’s lifecycle.

Who is it for?

  • Sub-contracting businesses that have a bright future, but with a credit history and historical financials that don’t tell the full story.
  • Cash flow challenged SMEs that operate on a progress claim billing structure.
  • Contractors and subcontractors in construction, engineering, and other project-based industries.
  • Businesses in need of cash to negotiate with the ATO, impatient creditors, obstructive banks or simply to win new projects to grow.

How it Works

  • Submit progress claim invoices to Hermes Capital for funding.
  • Receive up to 70% of the claim value is paid with Hermes’ unique approach within 24-48 hours.
  • You receive the balance less retentions and a small fee after your customer pays.
  • Draw up to 70% of your outstanding invoices up to 90 days at settlement!

Security & Collateral

  • Secured against approved progress claims.
  • Other collateral requirements are subject to the client’s circumstances – available on the discussion.

Why Choose This Solution?

  • Ensures steady cash flow – funding available as progress claims are raised helping you keep your subcontractors, suppliers and workers up to date.
  • Supports ongoing projects – helps businesses take on multiple contracts without cash flow stress.
  • Flexible limits – financing scales with the size of projects and claims.
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Typical Use Cases

  • Paying out the ATO – in full or as part of a repayment plan.
  • Covering supplier payments while waiting for customer payments – keep within terms to ensure supply and the support of your subbies as you grow.
  • Funding business expansion or taking on larger contracts.
  • Managing large contracts that require upfront investment in resources and other mobilisation costs.
  • Ensuring uninterrupted project completion by bridging cash flow gaps.

A Stand-Alone Solution, or in Combination?

  • As a stand-alone solution: Ideal for businesses that rely on progress claim payments and need continuous access to cash.
  • In combination with other products: 
    • Combine a Hermes Progress Claim Finance Facility with a Hermes TermPlus facility to refinance the bank or ATO, or to buy equipment for new projects and to grow the business to leave your cash flow strong.
    • Combine a Hermes Progress Claim Finance Facility with a Hermes Tradeline when you need to pay suppliers ahead of being able to make progress claims your customers.

Why choose Hermes?

Specialists in financing progress claims

We understand the complexities of progress claims.

Speed and flexibility

With a lean management structure made up of experts with years of experience, funding solutions can be tailored to your needs, and a term sheet provided within 24 hours.

Commercial approach to credit

As a managed fund with a unique capital structure of its own, Hermes is not constrained in the way banks and other credit providers are, allowing a pragmatic approach to structuring and approving credit facilities.

Quick approvals

Funding often available within 24-48 hours.

Broker-focused partnerships

Tailored solutions that support brokers and their clients.

No rigid banking criteria

Alternative lending with flexible structures.

Transparent and competitive terms

Clear pricing with no hidden fees.

How to Apply

  1. Submit an enquiry online or speak to a Hermes Capital specialist at (02) 9690 0611 or email admin@hermescapital.com.au.
  2. Provide project details and progress claim invoices.
  3. Get approved and receive funding in as little as 24-48 hours.