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 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 the same day we receive your invoices. Advances range from 85% to 90% of the invoice.
3. We send you the reserve refund
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.
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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! There are no long-term contracts and you'll even save money on your FedEx bill by simply faxing or emailing your invoices to us. We've taken all the guesswork out of what you'll pay to speed up your cashflow.
Just fill out our one-page Easy-APP and fax it back to us with the requested documents. You'll be approved quickly and we'll send you an Account Completion Package. Your account is open when we receive that package back. Once your account is opened it'll be only a short day or two to get your first funding.
Example 1: Fee-Free Daily Plan
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 85% or, in this example, $850 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 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-Free Daily 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.
It really is that easy!
Example 2: Fee-Free Flat Sixty Plan and
Fee-Free Flat Ninety Plan
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, minusthe discount for the number of days the invoice was outstanding.
Here's how the Fee-Free Flat Sixty and Ninety work:
Fee-Free Sixty
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.
Fee-Free Ninety
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.
Simple, straightforward and easy to understand!