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Now® Invoice Factoring Fees

What do you charge? What are the costs? 

We charge an annual membership fee of $750. On each invoice, we charge a one-time service fee of 3-5% of the invoice total. This fee is determined based on net terms, as shown below.  

We know that your customers may not pay on the exact due date. This a flat fee based on the invoice terms and will not change based on when customer actually pays. 

  • 30-day terms are 3%  
  • 60-day terms are 4%  
  • 90-day terms are 5% 

*Add 1% for invoices to international customers.  


Do you advance 100% of the invoice?

We pay 100% of the invoice less our 3-5% service fee.  


Can I use international customers? 

Yes, for an additional 1% transaction fee per invoice. We require all the invoices to be paid in US dollars.  


Are there hidden fees? 

No hidden fees. Our goal is to be as transparent as possible with our clients.  


What happens if my customer doesn’t pay? 

By verifying the invoice and creditworthiness of your customers, we take on the risk of non-payment with no recourse on you or your business.  


What happens if customer disputes an invoice after it is accelerated?

If any invoice is disputed, the full amount of the invoice will be charged back to your business.  


Does applying for NowAccount affect my credit score? 

No. We do not pull personal credit scores. We only look at qualifying SBFE-powered business credit scores as reported by Dun and Bradstreet and Equifax. Checking business credit will not impact your business or personal credit score.    


Do my customers know you’re checking their credit? 

No, it is a soft credit pull and your customer will not be notified. It’s free to check. Our clients use this service to vet new customers and check the health score of current customers to manage risk for their business.  


How can I improve my SBFE score? 

Small Business Financial Exchange scores are reported by SBFE verified vendors. The fastest way to improve your score is to use a business credit card provided by a verified vendor, such as Capital One. Positive pay history on your card will result in an increased score. 


Do you contact my customers? 

Yes, we understand how important your customer relationships are and will coordinate communication with you. We contact your customers to ensure a change in remittance address and to confirm the invoice (receipt of goods/service) prior to accelerating your payment. We will also reach out to your customer to collect payment if not paid upon the stated due date.  


How do I get paid? 

We will ACH payment directly to the bank account you add to the Merchant Service Agreement. We can wire the money for an additional fee of $25. 


How long does it take for me to get paid? 

Once your account is set up, and your customers and invoices have been added, it takes 1 day to receive your funds. Once we receive confirmation from your customer, you will receive the funds within 24-48 hours.  


What if my customer doesn’t get approved? 

There are many reasons why a customer would initially be declined. Your business advisor will guide you through the process if additional information is needed. Eligibility can also change frequently, so we recommend checking back in with us in 30 days.  


Can my customer pay with a credit card? 

Most customers pay through ACH or check at no additional cost. If your customer prefers to pay via credit card, we charge you the credit card processing fee associated with the credit card used.  


Do you accept past due invoices? 

No, past due invoices are not eligible for invoice acceleration.   


Do I have to put all my customers through? 

No, you can choose which customers you add to your NowAccount for invoice acceleration. Additionally, you can choose which invoices you accelerate. Once you add a customer to your portfolio and issue a remittance change, all invoices will flow through your NowAccount.  


How do you confirm invoices? 

We work with you to email and/or call your customer to confirm receipt of goods or services.  


 What if you don’t get in touch with my customer? 

We will work with you to get in touch with your customer but won’t be able to accelerate invoices without confirmation from your customer.  


Do I have to pay the membership fee? 

Yes, all of our clients pay the annual membership fee.  


What makes you different than other factors? 

Unlike traditional factoring companies, Now offers flexibility, transparency, and flat pricing. Now pays your business your invoice amount upfront, less a one-time service fee. We do not require that you add all of your customers to your portfolio. We are also non-recourse, meaning if your customer doesn’t pay, we absorb the loss.  


What happens if payment is late? 

It’s not uncommon for customers to pay invoices late or after the due date (one of the reasons Now exists). We know how valuable your customer relationships are to your business. Our processing team will work with you to reach out to your customer to secure payment. 

We recognize that invoices are rarely paid within the terms stated on the invoice—that’s why we exist! If the customer doesn’t pay through no fault of your own, Now will absorb the loss. 

If an invoice becomes 90 days past due, Now will not be able to process new invoices to that customer until payments are collected. We often lean on the client to reach out to their customer if an invoice is disputed or a payment is largely delayed.  


What happens if my customer doesn’t pay the full invoice amount? 

If a customer doesn’t pay the full invoice amount due to a legitimate dispute they have (i.e., products/services were not delivered as agreed) our client is responsible for resolving the dispute by delivering the products/services or issuing a credit memo to the customer. If a credit memo is issued, the client is responsible for repaying Now the amount credited.  


Do I have to put all invoices through your system?   

No, you can pick and choose which invoices you accelerate with NowAccount. Once you add a customer to your portfolio and change the remittance address, all future invoice payments from that customer will flow through your NowAccount. If you don’t want to accelerate a customer invoice, we charge a $5 admin fee for processing the invoice.  


How long does this take to sign up? 

The application takes about 15 minutes to complete.  


How long do credit requests take? 

1-3 business days depending on the nature of the request.  


Do I have to put Now on the invoice? 

No, your customer still makes the payment out to you. We simply have the remittance information changed (address and bank account). 


How do I invoice my client? 

The same way you do today, the only difference is the remittance address and payment details need to be changed.  


Can I remove a customer after they’ve been added to my NowAccount? 

Yes, you can remove customers at any time from your NowAccount.  


When do you charge me the $750? 

Upon activation of your NowAccount, and each year upon renewal. 


What if my customer sends me the money? 

If your customer pays you directly and does not pay through NowAccount, we ask you to directly ACH or forward the check to us.  If this happens and we do not receive payment from you, it will impact your eligibility to use NowAccount.  


Do I get charged less if my customer pays early? 

No, but you also do not get charged more if you customer pays late.  


How do I qualify? 

  1. We check your business credit score (SBFE score) 
  2. We verify your company information (bank statements, P&L statements, balance report, aging report) 
  3. We check your customers eligibility and credit worthiness  
  4. We do a lien search and evaluate what other financial institutions you are working with. Depending on your situation, we might need additional information.


Why do my customers have to get approved? 

To determine their ability to pay in a timely manner and to allow us to accept the risk of non-payment.   


Do you check my personal credit score? 

No, we do not check your personal credit score. 


Is this PO Financing? 

No, but we do have some Purchase Order (PO) financing partners, please reach out to our business advisors to learn more.  


Will my customers know that I’m using a third-party service? 

Yes, we understand how important client relationships are to your business and let you drive the conversation. Our clients let their customers know they are partnering with Now to help them process their invoices.  


Can I use Now alongside a line of credit or loan? 

Yes, typically we can work alongside your bank facilities.  


How do I get started? 

Create your account here. It’s free to apply, takes less than 15 minutes, you have no obligation to work with us.  


Is my business a good fit? 

If you are a business who sells to other businesses and are experiencing the pain of invoicing with net 30,60,90 day terms, you are a good fit.  


How does it work? 

  • Your company delivers the goods/services to your client. 
  • You submit an invoice for acceleration, which is processed, confirmed & approved. 
  • Now pays your business 100% of your invoice amount, less the service fee (3-5% of invoice amount). 
  • Your client pays Now after 30 to 90 days.
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