Invoice financing for small businesses

Invoice financing for small businesses

Invoice financing with ZipBooks

Invoice financing gets you paid faster

Get paid before your client even opens their email! Are you sending out an invoice that’s due in the future, but would like to get paid now? ZipBooks can advance you the cash you need and you can say goodbye to cash flow worries.

Simply choose the “Send and get paid now” option, and we’ll credit 100% of the cost of your invoice to your bank account immediately. It typically arrives within 1 business day. You’ll have more cash freed up, and you’ll be able to pay us back on low, straightforward terms.

Payment scheduling for easy repayment

In ZipBooks, you’ll never have to worry about forgetting to pay back your advance to us. It’s invoice financing at its most convenient.

We’ll automatically schedule a plan of 12 equal payments for you to repay the instant payment. Only need the advance for a few weeks? Reduce the cost of interest by paying us back early—we never penalize for prepayments!

Lower costs than our competitors

ZipBooks provides competitive rates for invoice financing. We charge only 0.5% per week. Please note that our invoice financing feature is currently only for businesses incorporated within the United States.

We’ll start you off with limited advance options ($300-$2500), but as you continue to use Invoice Instant Payments, your limit will increase. We love rewarding our customers; if you’re sending good invoices, we’ll get you the cash you need.

Quick application process

Applying for invoice financing from ZipBooks is fast and easy. Simply fill out your company details and submit your application right in the app. One of our underwriters will review your application and get back to you within 2 or 3 business days.

We provide invoice financing for a diverse group of companies, from small startups to enterprise level clients.

Invoice financing popular articles

Invoice financing FAQS

What is invoice financing?

Invoice financing is a term that refers to cash advances given to a company based on invoices that have been sent but not paid, in other words, accounts receivable financing. Invoice financing allows you to get paid by a lender for the amount of the invoice, then pay back the amount of the cash advance over time plus interest. ZipBooks typical interest rate for invoice financing is .5% per week. This means, if you pay off an advance on an invoice within 30 days, you’ll end up paying 1% less than you would if you had gone through a credit card company. We spell out how invoice financing can help you avoid expensive credit card fees, while still allowing your company to move forward with consistent cash flow in our blog post, “4 Reasons to Ditch Credit Cards for Invoice Financing.”

Does ZipBooks invoice financing include any hidden fees?

ZipBooks doesn’t need to stuff a lot of information in our fine print to make invoice financing look good. The only fee you will pay for the invoice financing process is an origination fee (currently 1% of the total credit limit). The fee for originating the invoice financing credt limit is a charge for the work it takes to underwrite your invoice. That means if you finance a $20,000 invoice, you’ll be paying $1,766.67 / week on a principal of $19,800 (the origination fee is usually automatically taken out of the loan amount before funds are issued). ZipBooks is setup to allow you to pay back the loan any time after the first week and there is never any pre-payment penalties.

How does repayment work?

When ZipBooks makes an ACH transfer to your bank account, we automatically schedule repayment over a 12-week period. Going back to the example of a $20,000 invoice, we would debit your connected business checking account for $1,766.67 per week every week for 12 weeks. After the first week, you have the option to go into the invoice history a pay back the loan early to avoid additional interest on the cash advance.

How do I apply for invoice financing?

Applying for invoice financing is easy, just follow the steps below:

  1. Create a ZipBooks account and log in.
  2. Fill out the Instant Payment application inside the app.
  3. Recieve email from ZipBooks with underwriting determination after 5-7 business days.

In some instances, our underwriting team might request more information such as bank statements. When possible, it is ideal to integrate your business checking account with ZipBooks before your invoice financing application is submitted.

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