Just Quick Facts!
What is it, how does it work, what does it cost?
AddCash Invoice Financing gives you cash quickly, against your unpaid invoices for which you would normally wait 30 – 90 days before your customers pay. You can use the cash to expand your business, pay suppliers & taxes and many other purposes.
You send us copies of the invoices you choose (they can be up to 30 days old), and we advance you up to 75% of their value immediately, or when you ask for the funds. The customer pays by cheque to you, which you send to us, or by EFT to an anonymous AddCash account, and the 25% balance is paid to you.
It costs 0.5% - 1.0% per week of the value of the invoices, depending on your facility. For example, if your rate was 0.8% per week, a $100 invoice which you fund with us for 5 weeks, would cost you $4 ($100 x 0.8% = $0.80 per week x 5 weeks). It typically costs less than a prompt payment discount that you might otherwise offer to your customers to get them to pay you quickly.
Click on FAQ for more detailed information on AddCash Invoice Financing.
