Why finance my invoices?
CDL Training Schools
Do you use various forms of contract-training, whether it’s with carriers, municipalities, even the GI Bill? How about pay-as-you-go tuition programs? If you do, you have to train students at your expense, then wait weeks, even months to get paid.
Trade and Career Schools
If you have accounts receivable, you have to wait to get paid. Our invoice financing program is designed to help you manage your cash with certainty and maximize working capital.
Any school with receivables can apply. We look for schools and business owners with an established history of paying on-time. You may need to obtain permission from your lender to sell your invoices if your receivables are pledged as collateral.
How do I get funded?
Once we’ve established the payment terms, you upload your documents (invoices, applications, etc. that evidence the receivable) to a secure, shared folder. We’ll review them (occasionally confirming with the recipient) to make sure everything is correct. We’ll send your money electronically to the bank account you provide.
How long does it take to get funded?
The process from upload to funding generally takes only 2 business days.
How much does it cost?
$10 per $1,000 in receivables, charged every 15 days.
Example: $5,000 invoiced, due in 45 days: We send you $5,000 on day 1. You pay us $5,150 on day 45.