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Rapidfire Pay

Turn unpaid invoices into cash without adding debt.

Rapidfire Pay helps small and independent service companies get paid now instead of waiting 30 to 60 days. Approval is based on your customers' credit, not yours.

  • Paid within 24 hours of invoice submission
  • Free credit checks on your customers
  • Full back-office and collections support
  • Not a loan: no debt, no monthly payments

Prefer to talk? 800-709-7393

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The process

How our invoice factoring process works

  1. Submit your invoice

    • Send invoices through the secure client portal
    • Include proof of delivery or completion
    • Submit as often as you invoice, verification is completed quickly
  2. We verify and fund

    • We confirm the invoice with your customer
    • Get paid within 24 hours of submission
    • Funds deposited directly to your account
    • Track every invoice in real time
  3. We handle the back office

    • Full receivables management and invoicing
    • Collections and payment follow-up
    • Free credit checks on your customers
    • You stay focused on the work
  4. You get the balance

    • Remaining balance paid when your customer pays
    • Custom rate and fee schedule, not a template
    • No debt, no monthly payments
    • Funding grows as you invoice more

Asset-Based Lending

Borrow against more than your invoices

Asset-based lending (ABL) is a revolving line of credit secured by what your business owns: its receivables, inventory and equipment. The line is sized to the value of those assets, so it grows as your business does.

Unlike factoring, ABL is a loan. You keep collecting from your own customers and draw on the line when you need cash.

  • One line, several assets

    Receivables, inventory and equipment can all count toward what you can borrow.

  • Draw when you need it

    Use the line for payroll, inventory or a new contract, and pay it down as your customers pay you.

  • Room to grow

    As your receivables and inventory grow, your borrowing base grows with them.

How your line is set

Your accounts receivable, inventory and equipment add up to your borrowing base, which is the size of your line of credit.

Each asset counts toward the line at a percentage of its value. As those assets grow, so does what you can borrow.

Client Testimonials

What our clients say

Rapidfire Pay has transformed our invoice. Their quick factoring services ensure we maintain cash flow and focus on growth. The team is professional and responsive. I highly recommend them for small businesses!
K. Jenson
Partnering with Rapidfire for factoring has been awesome. The team is super helpful and knows their stuff! Operations have improved since we started working with them!
S. Patel
I know Rapidfire Pay has protected my trucking business from fraud. They have helped me avoid so many missteps as a new trucker.
A. Dandrige

Step by step

How does the application process work?

We look at what you invoice and who you invoice, then build terms around how your business actually runs.

1

Contact us

Call and reach a person, or start the form. Tell us what you invoice and who you invoice.

2

Submit your application

Send the documentation we ask for: invoices, customer list and the basics about your business.

3

Get approved

We run free credit checks on your customers and build a rate and fee schedule around how you actually operate.

Get started

It's free to apply, or call 800-709-7393

Frequently asked questions

Is factoring a loan?

No. You are getting paid for work you have already done, so there is no debt, no monthly payment and no impact on your balance sheet.

Do I need good credit to qualify?

Approval is based on your customers' credit, not yours. New businesses and low credit scores can still get funded.

How fast do I get paid?

You get paid within 24 hours of invoice submission.

Do I have to factor every invoice?

No. You choose which accounts to submit, and Rapidfire Pay approves or rejects submitted accounts at its discretion.

What does it cost?

Rates and fees are customized to your business model rather than a fixed schedule, and are set out in your Discount Schedule. A minimum fee of $10 per invoice applies.

Who chases my customers for payment?

We do. Receivables management, invoicing, collections and payment follow-up are all included.

What industries do you fund?

Our core industries are transportation, staffing, commercial services, security and managed I.T. We also fund medical supply, repair services, B2B recurring services, property-management contractors and commercial HVAC, plumbing and electrical.

Do you check my customers' credit?

Yes, and it is free. We vet your customers before you take the work, which is how you avoid bad debt rather than chase it.

Ready to stop waiting on your invoices?

Apply in a few minutes, or call and talk it through first.