7/3/2023 0 Comments Invoice factoring template![]() “We will work with banks and other creditors through intercreditor agreements to make sure can get funded,” said Chambers. “They need to be upfront with the GC before factoring the invoice.”Ĭhambers also notes that CapitalPlus has a range of funding options, with invoices being factored for as low as $10K and as high as $10M. “A customer has to approve that the invoice is valid,” Chambers told Levelset. Other than that, CapitalPlus has no fees, which means there are no early termination charges.ĬapitalPlus encourages subs to communicate openly with the GC, and to factor invoices only for work that has already been completed. CapitalPlus does charge a $25 wire transfer fee on all transactions. When invoices are above half a million dollars, there’s a fee scale that depends on the size of the facility. According to Executive Vice President Brent Chambers, any invoice under $500K is not subject to an application fee. ![]() With CapitalPlus Construction Services, the application process takes between 48 hours and 72 hours for both spot and contract factoring. Our rates are lower than most competitors and we have no contracts.” CapitalPlus Construction Services “You don’t have to do your entire client ledger. “We offer contractors spot factoring services,” according to BlueVine. BlueVine also has no administrative costs and no additional fees. ![]() Applications can be processed within 24 hours, and if the sub accepts their offer, they can receive their funds that day. We’re trying to fund as many small business as fast as possible.”īlueVine’s application process takes as little as 10 minutes online. We’re trying to move the application as fast as possible. Once the application goes to underwriting, we might need a tax return. Contractors just need to submit documents as fast as possible. “We try to get in the system as fast as possible. “Once the invoice is paid, contractors will get the other 15% of the advance rate minus the fees that we charge,” a BlueVine representative told Levelset. While the initial minimum amount is $5,000, repeat customers are only required to have a minimum invoice of $500 per month.
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