You’ll be working with a dedicated financing team that will ensure your Cash Collect process is seamless.
When an approved invoice Cash Collects/Invoice Factors; you can sit back and not have to worry about collections.
Leveraging existing accounts receivables provides you upfront capital, an alternative to traditional financing.
By linking your accounting software, we’ll monitor your accounts receivables to find opportunities for Cash Collect.
You’ve likely already fronted materials for projects and need more for the next job. Cash Collect unlocks your materials funds so you can use it for other jobs.
Ply offers a product called Cash Collect, which is commercial invoice factoring. This product allows you to exchange your aging accounts receivables for cash for a small fee. We work with several financing partners that will offer invoice factoring on approved invoices. The way this works is: 1) by linking your QuickBooks account, we will analyze all of your outstanding commercial invoices 2) the ones that qualify are sent to our finance partners for decisioning 3) once a decision has been made, the offer is accepted, and we deposit funds to the bank account that was linked.
Ply works with several lenders that will approve and disburse funds to you. The criteria may vary, but that will largely depend on your business, the type of invoice being approved, and the business customer that you’ve worked with. For further questions about our process, please feel free to chat with us or contact us at: hi@getply.com.
Right now, there are two ways to process an invoice for approval on Ply: 1) linking your account provides you the best and most proactive way to uncover Cash Collect. By linking your accounting software, we save you time by not having to upload or enter the data manually. We can show you invoices you can submit 2) you can manually upload the invoice to send to our network of lenders.
The time varies, but in the best case, you could see approval that day. In some cases, you will be required to provide additional information from our team.
