Also known as receivables financing, it is a small business financing option that frees up cash flow from unpaid invoices. This strategy allows a small business to receive up to the full invoice value as an advance with a very low turnaround time. Giving you immediate cash injection to help weather a slump or finance a short term project.
Invoice Financing
Features
Max Amount
Up to 100% of invoice value Term
Until the customer pays the invoice Rates
Starts at 1.02% FICO
500+ Speed
As fast as same day The biggest advantage of using invoice financing as a strategy is that lenders consider the unpaid invoices as collateral, meaning that they are more concerned about the amount of the invoice than your credit history.
Invoice Factoring
Where you sell the unpaid invoices to a lender in exchange for an advance of 70% to 85% of the invoice value. The lenders will then deal with your customers directly. Once your customer paid off the outstanding invoice to your lender, you will get the remaining amount.
Invoice Discounting
Similar to factoring with the exception that your customers don’t know that you are using invoice financing.
Getting Qualified
While what matters is your invoice amount, lenders also look at the quality of these invoices to see if it makes sense for them to finance it. That being said, there are lenders who look at your credit report as well.
Application Process
Apply and upload the required documents using our application platform. You can quickly see your options from over 80 lending partners in. To speed up the process, we advise that you gather the following documents prior to applying:
Driver’s License
Bank Statements
Unpaid Invoices