If you run a contractor business in the telecom and wireless industry these days, you may be worried. Payment terms have pushed out to 60, 90, even 120 days. You’ve earned the money, but you can’t use it for months.
Within the industry, contractor advocates are trying to work through the issue, but what if you need money today?
Lines of credit, personal savings and invoice financing are possibilities. However, if you don’t want to take on debt, drain your life savings or pay high interest rates, none of these are attractive options.
Now there’s a better choice.
Capital One® Invoice Advantage™ gives you fast, low-cost and flexible access to the money you’ve earned. You can enjoy the peace of mind of having cash in the bank, without the worry of what that peace is costing you.
You can apply quickly with a simple application process (no financial statements needed). With access to your online invoice history, your Invoice Advantage account and easy-to-use dashboard are set up in just a few days.
Once you’ve chosen the eligible invoices you’d like to advance, you’ll receive the funds in about one business day.
You pay only 1% of the invoice per 30 days of advance. That’s it. No annual fees, no monthly use requirements, no sign-up costs or commitments. You only pay for what you use.
You can advance 90% of the invoice amount, less the fee. You receive the remaining 10% when the invoice is paid.
You have complete control. If you need to increase your cash flow, you decide which customer-approved invoice(s) you want an advance on and whether you want a 30-, 60-, or 90-day advance. And, if you don’t need an advance for a while, there are no penalties.
You aren’t taking on debt either because this is not a loan. It is an asset purchase tied to your incoming cash flow. Invoice Advantage simply helps you get the money you’ve earned on a timeline that works for you.
As a bonus time saver, you can see all of your invoices in one place on the Invoice Advantage dashboard—even if your customers use different invoicing platforms.
Don’t let slow payment terms slow down your business.
What could you do with predictable cash flow: Hire another crew to take on more work? Invest in some new equipment? Or maybe just sleep a little easier?
Invoice Advantage was designed to help companies like yours manage the money you’ve earned. You can be up and running quickly, with easy-to-understand fees, in a program that gives you control over your cash flow.
Stop worrying about long payment terms and regain control. Fill out the short application for Invoice Advantage today.