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How it Works?

Why wait 30, 60 or 90 days to get paid for your invoices? Aberdeen Funding can get you cash now to improve your cashflow and grow your business.

 

We deliver the money you need in 3 easy steps!

 1.  Send the invoices
Fax or email us your invoices and supporting documents (time sheets, ad rate sheets, trucking bills, etc.)

 2. We send you cash!
Once approved, we’ll advance funds directly into your bank account in 24 hours after we receive your invoices. Advances range from 70% to 90% of the invoice.

 3. We send you the reserve
The reserve is the portion of the invoice not funded in the advance. When the check arrives in our office, we’ll apply it to your account and make the reserve available the same day.

Still need more info?  Check out our FAQs

Other factoring companies nickel and dime you with so many fees you never quite know what you’re paying to finance an invoice. Aberdeen Funding is different! With our easy-to-understand discount plans you’ll know exactly what your cost will be—each and every time you fund an invoice. There are no other fees! We’ve taken all the guesswork out of what you’ll pay to speed up your cashflow.

Getting started is easy!

Just fill out our concise Application and fax or email it back to us with the requested documents. You’ll be approved quickly and we’ll send you an Account Completion Package containing the contract and all accompanying documents. Your initiation with us will proceed to the Underwriting department. Your account is opened and we commence funding once we receive the Account Completion Package, duly signed by you.

It’s quick and easy!

 

 

Examples

 

These examples are for illustration purposes only. Actual rate structures will vary from client to client, depending on circumstance. Negotiate your own!

Example 1:

Once your account is open, you fax or email a $1,000 invoice to Aberdeen for funding. Here’s what will happen: The same day we receive the invoice and the backup documentation we’ll advance 85% or, in this example, $850 directly into your bank account; this advance is yours to do with what you’d like. Make payroll, pay taxes or take advantage of a cash discount; the choice is yours. We’ll then wait for the invoice to be paid directly to us. When it is, we’ll make available the 15% (reserve) we held back when the invoice was submitted, minus the discount for the number of days the invoice was outstanding. 

Here’s how the fee structure works:

If the invoice is paid within the first 15 days, your discount will only be 1% or, in this example, $10. Your reserve refund would be $150 – $10 = $140.

If the invoice is paid in 31 days your discount will be 1% + .089 X 16 days = 2.42% or, in this example, $24.20. Your reserve refund would be $150 – $24.20 = $125.80.

If the invoice is paid in 60 days your discount will be 1% + .089 x 45 days = 5.01% or, in this example, $50.10. Your reserve refund would be $150 – $50.10 = $99.90.
Example 2:

Once your account is open, you fax or email a $1,000 invoice to Aberdeen for funding. Here’s what will happen:

1. The same day we receive the invoice and the backup documentation we’ll advance 90% or, in this example, $900 directly into your bank account. This advance is yours to do what you’d like.  Make payroll, pay taxes or take advantage of a cash discount the choice is yours.

2. We’ll then wait for the invoice to be paid directly to us.  When it is, we’ll make available the 10% (reserve) we held back when the invoice was submitted, minus the discount for the number of days the invoice was outstanding.

Here’s how the Fee Structure works:

Sixty Day If the invoice is paid within 60 days your discount will only be 4.9% or, in this example, $49. Your reserve refund would be $100 – $49 = $51.00.

Ninety Day If the invoice is paid within 90 days your discount will be 5.9% or, in this example, $59.00. Your reserve refund would be $100 – $59 = $41.00.