Below are the most frequently asked questions about Advance services and processing. We’re happy to answer any question – contact us today!
- What is your advance rate?
Up to 95% for Funding Only clients and 100% for Full Service clients.
- Do you require a long-term contract?
Each agreement is customized to meet individual growth goals. Our typical agreement term is 12 to 24 months.
- Do you require personal collateral in addition to company collateral?
No. We request a personal guarantee.
- What is required to process receivables?
We require an invoice register, sent via fax, email, or on-line, with back-up invoices and time sheets.
- When do I receive credit for a payment received?
Cash is posted daily. Payments receive at our office by 2:00 p.m. EST are credited within one business day. All profits and reserves are released weekly.
- Are volume discounts available?
Yes. Customized solutions are available for clients of all sizes.
- What is an eligible invoice?
Any invoice under 90 days old for service performed to an approved customer.
- How are timesheets and invoices submitted?
Full Service clients enter timesheet data online. Paperless Timekeeping is now available.
- Can I have deductions, such as health insurance, taken out of an employee’s pay?
Yes. We administer a wide array of payroll deductions such as health insurance premiums, garnishments, levies, uniform charges, etc.
- Do you require that all invoice be funded?
Typically, yes. We can, however, create multiple rates to allow our clients to use more of their own capital if desired.
- How often can I run a payroll?
Our routine payroll cycle is weekly, however, we can accommodate a wide variety of payroll cycles.
- Do you offer direct deposit of payroll?
Yes. We also offer traditional paper checks as well as a paycard program and Paperless Paystubs as a part of our Paperless Funding service.
- Can we pay employees a set amount each pay period instead of hourly?
Yes. We understand the need for flexibility and work with the individual needs of each client.
- What is your processing error rate?
Less than 1% -- any errors are remedied through our research department promptly.