WE BUY RECEIVABLES
"Receivable Advance™" Program
"Rent Advance™" Program
Our investor clients will purchase receivables/invoices that meet the following criteria:
- Open invoice is for a service provided in New York or a product delivered to a New York resident
- Business Debt: If the receivable is due from a business (i.e. a product or service provided to a corporation or LLC for a business purpose), the company/debtor that owes the money must be in business for over 5 years
- Consumer Debt: If the receivable is due from a consumer (i.e. a service or product sold to an individual for household or personal use .... ex: home repairs, medical services), the person responsible to pay the bill or invoice (the receivable) must live outside New York City
- Face value of receivable: $300.00-$4,000.00 *
- Receivable is less than 120 days past due
- Proof and documentation of the service provided or of the product delivered by your company that led to the invoice or bill is required
- Debt seller to agree to cooperate with buyer in any legal process required for collection
- Will pay approximately 50% of face value (final amount depends on circumstances, invoice age, and the payor/debtor profile)
- Approximately 20% of the collected amount is paid to the debt seller upon a full collection (less collection costs). Specific terms and conditions to be provided at time of purchase
* Will purchase a receivable in any amount, but will pay a maximum of $2,000.00 for any receivable.
Will not purchase receivables for construction/contracting work
Businesses with receivables for sale may be located anywhere in the U.S. provided that the payor/debtor is in New York State.
We will buy up to 3 months of future rent obligations due from your residential tenant at approximately 70% of amounts due (the final purchase price depends on length of tenancy, tenant profile, payment history). See the "Rent Advances" page of this website for the specifics of our "Rent Advance™" program.
If you need debt collection services instead of selling your receivable outright, see the "Commercial Debt Collection" page on this website.
Call or email today to discuss the receivable(s) you'd like to sell.