You’re not short on billing. You’re short on net-60.
Billable Capital funds professional-service receivables with facilities up to $5,000,000, advancing up to 90% of an approved client invoice within 24 hours. There is no minimum credit score, because the credit decision is about the client who owes you — a corporation, an insurer, a developer, a hospital system, a municipality — not about you. A facility opens in 3 to 5 business days.
What are the criteria?
Receivables funding — criteria
- Facility size
- Up to $5,000,000
- Advance rate
- Up to 90% of the approved invoice face value
- Speed
- 3 – 5 business days to open a facility; 24 hours per invoice once open
- Minimum credit score
- None — your client’s credit is what’s underwritten
- Minimum time in business
- 3 months
- Minimum receivables
- $20,000 in open, invoiced B2B receivables
- Invoice age accepted
- Current through 90 days
- Recourse
- Recourse and non-recourse facilities both available
- Documents
- Application, A/R aging report, sample invoices and engagement letters, client list, 3 months of business bank statements
- Not eligible
- Consumer clients, unbilled work in progress, contingency fees before the matter resolves, disputed invoices, retainers held in trust
- Underwritten
- In-house by Billable Capital
Who is receivables funding actually for?
It is a B2B product for firms that invoice business clients on terms and wait. That is most of professional services.
- Law firms billing corporate, insurance-defense and institutional clients hourly or flat-fee on net-30 to net-60 — the matters where the client’s AP department sets the pace.
- Accounting and CPA firms with monthly close, outsourced-CFO and audit engagements billed in arrears to business clients.
- Management and IT consultancies on milestone or time-and-materials contracts with 45- and 60-day payment terms.
- Marketing, advertising and PR agencies billing retainers and project fees to brands whose payment terms run 60 days or longer.
- Architecture and engineering firms paid on phase invoices by developers, general contractors and public owners.
- Recruiters and HR consultancies with placement fees invoiced on the start date and paid a month or two later.
If your firm bills consumers — estate planning, family law, individual tax returns — or your cash problem is between retainers rather than between invoices, the product you want is working capital or a line of credit. Consumer receivables and unbilled work cannot be funded.
How does receivables funding work, step by step?
- Do the work and invoice your client. The month closes, the milestone is hit, the matter is billed. You invoice as you always have, on your terms, from your own system.
- Upload the invoice. Once the facility is open, you submit invoices as you raise them. There is no re-application per invoice, and you choose which invoices to fund.
- Up to 90% is advanced within 24 hours. The advance lands in your operating account against the approved face value of the invoice.
- Your client pays on their normal terms, and you get the reserve less the fee. The remaining balance is released when the client settles.
A facility opens in 3 to 5 business days. After that, each invoice funds in 24 hours. Many firms run a receivables facility alongside working capital — they are complementary, not competing.
What does it cost to fund a $60,000 client invoice?
A consultancy invoices a corporate client $60,000 for a completed phase on net-45 terms. We advance 90% within 24 hours of invoice approval, and release the rest, less the fee, when the client pays.
Illustrative only. Your actual amount, cost and term are set by underwriting your file. Nothing on this page is an offer.
Representative invoice — $60,000 on net-45
- Invoice
- $60,000
- Advance (90%), within 24 hours
- $54,000
- Fee
- 2.5% per 30 days — illustrative
- Fee at 45 days
- $2,250
- Released when the client pays
- $3,750 ($6,000 reserve less the fee)
- Status
- An illustration, not an offer
What a firm needs to qualify.
Every number below is a real criterion. If you clear these, apply. If you don’t, call us and we’ll tell you what would change it.
| Minimum monthly revenue | $15,000 in business bank deposits |
|---|---|
| Minimum time in business | 6 months |
| Minimum credit score | None for working capital or receivables funding. 600+ for a line of credit. 650+ for a term loan. 680+ for SBA. |
| Funding range | $10,000 to $2,000,000 for working capital. Up to $5,000,000 for term loans, SBA, and receivables facilities. |
| Time to a real offer | About 4 business hours on a complete file. |
| Time to funding | 24 hours. Same day if a clean file is signed before 11:00 AM ET. |
| Documents required | Application plus your 3 most recent months of business bank statements. 4 months if your billing is seasonal (tax season, contingency fees, year-end retainers). |
| Contract length | 2 pages. |
| Repayment | Fixed daily or weekly ACH from your operating account. No split funding. No holdback percentage. No lockbox on your operating account. |
| Prepayment discount | Up to 30% off the remaining cost of funding when a working capital advance is paid off within the first 30, 60, or 90 days. |
| Retainers & client billing | Counted. Retainer deposits, recurring client payments and lump-sum settlements all count toward your approval. Client trust (IOLTA) accounts are not underwritten as revenue — send the operating account. |
| Billing system requirement | None. Any practice-management, time-and-billing or invoicing system, or none at all. Underwriting is from bank statements. |
| Firm types approved | Law firms including contingency-fee practices, accounting and CPA firms, bookkeeping and tax preparers, management and IT consultancies, marketing, advertising, PR and creative agencies, architecture, engineering, surveying and environmental firms, HR consultants and recruiters. |
| Not required | Collateral for working capital. A business plan. Tax returns under $500,000. A minimum headcount or number of partners. A specific billing system. An audited financial statement. |
| Open to | U.S. businesses with a U.S. business bank account. All 50 states. |
Four minutes. Three bank statements. No credit impact to apply.
Receivables funding questions, answered.
Does my client know I am using receivables funding?
On a notification facility, yes — they remit to an account in your name that we control. Non-notification facilities exist for larger, well-established client relationships; ask when you apply and we will tell you which structure your receivables support.
What if my client doesn’t pay?
On a recourse facility, the invoice comes back to you and you repay the advance or substitute another invoice. On a non-recourse facility, Billable Capital carries the credit risk of the client’s insolvency, which is priced accordingly. Both structures are available.
Can a law firm factor contingency fees or settlements?
No. A contingency fee is not an invoice until the matter resolves and the fee is earned and billed. Receivables funding applies to billed, undisputed invoices to a business client — hourly and flat-fee work, retainers billed in arrears, corporate and insurance-defense matters. For case costs on a contingency matter, see working capital.
Is there a minimum volume to open a facility?
$20,000 in open, invoiced B2B receivables and 3 months in business. Facilities run up to $5,000,000, so a two-partner firm with a handful of corporate clients can open one.
Can I factor only some invoices?
Yes. Most firms fund the slow payers — the large client with a 60-day AP cycle — and leave the prompt ones alone. There is no requirement to run every invoice through the facility.
How is receivables funding priced?
As a discount off the invoice face value, held back in the reserve and released when your client pays. Pricing depends on the client’s credit, the invoice ageing, and whether the facility is recourse or non-recourse. Your facility agreement states the full schedule before you sign — see disclosures.
What does it cost to fund a $60,000 invoice?
On a $60,000 corporate invoice on net-45, we advance $54,000 (90%) within 24 hours. At an illustrative 2.5% per 30 days, the fee for 45 days is $2,250, and the remaining $3,750 is released when your client pays. Your rate is set by your client’s credit and your volume; this is an illustration, not an offer.
Your invoices are good. The timing isn’t.
Facilities up to $5,000,000, up to 90% advanced within 24 hours of invoice approval, no minimum credit score. A facility opens in 3 to 5 business days.