For B2B companies, payment terms are long and getting longer.
You have to pay your vendors, employees and fixed expenses now. You can’t afford to wait 60+ days for the cash your business has earned. Harper’s solutions accelerate your revenue into immediate cash flow so that you can focus on growth.
HOW INVOICE FACTORING WORKS.
EASY TO SET UP AND DRAW FUNDS
Once approved for funding, you’ll be given a credit line and access to our online portal. Draw from the credit line by submitting invoices of your choice through the portal.
UPDATE YOUR CUSTOMERS WITH YOUR NEW HARPER ACCOUNT
Send your customers the account information assigned to you (PO Box and bank account) to accept checks and electronic payments. Harper is a non-notification factor, so the accounts can be under your business name.
RESPONSE WITHIN 24 HOURS FOR YOUR FIRST ADVANCE
Submitted invoices are approved within 24 hours if it’s the first time with a particular customer. Afterwards, invoices with familiar customers are approved within a few hours. Once approved, up to 90% of the invoice value will be wired to your business account for same or next day availability.
INVOICE IS PAID BY THE CUSTOMER
Once the customer pays off the invoice, Harper releases the remaining 10% of the invoice value to your bank account net of a small factoring fee. It’s really that simple!
WHAT WE OFFER.
| Funding From |
|---|
| $25k - $5mm |
| Cash Advances Up to |
|---|
| 90% of Invoice |
| Funds Reach You in |
|---|
| Less than 24 hours |
HOW WE COMPARE.
| Source | Funding Size | Interest and Fees | Process |
|---|---|---|---|
| Harper Partners | $25k – $5mm | 1.0% – 3.0% per month, paid only when invoice is paid by your customer | No minimum operating history required. Credit lines set up within 2-5 business days. Once set up, funds reach your account within 24 hours |
| Banks & SBA’s | Typically over $1mm | Annual interest rates starting at 5% | Low approval rate for small businesses – require 3 years of operating history and profitability. Process can take months |
| Equity Investors | $50k to well over $1mm | Angels and VCs underwrite to 5x-20x returns, significantly diluting your ownership, and taking seats on your company’s board | Months of fundraising, negotiation, and diligence. Occupies significant company time and resources |
| Cash Advance Lenders | Up to $250k | Annual Percentage Rates (APRs) regularly exceed 100%. Payback drawn daily from bank account regardless of when your customers pay you | 1-7 days for diligence and funding. Typically paid back daily within 6-9 months |
BENEFITS OF WORKING WITH US.
CASH BALANCE OF ACTUAL HARPER CLIENT
Cash balance of growing advertising agency with 75 day average payment terms. Agency partnered with Harper to use invoice factoring to fund operations while experiencing 3x revenue growth. They maintained the cash flow needed to pay employees and vendors on time without raising additional equity. Founders today still retain vast majority of equity.