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Frequently Asked Questions
Q: How long would it take to set me up with an AllBizFund account? A: Once we receive your application, we can have an answer to you within 24 hours, and you can be set up within 24 hours of us receiving the requested information. Q: With my AllBizFund account, will I be able to check credit on my customers? A: Absolutely. This is a "value-add" with your AllBizFund account at no additional cost. Simply notify us of a customer you are planning to bring on, and we will give you a thorough run-down on the customer's credit condition. This information can help you make good business decisions and keep you from entering into dangerous business relationships. Q: How much would my AllBizFund account cost? A: The primary factors on determining your AllBizFund fee is the credit strength of your customer(s) and your own business experience. We will quickly analyze your business and your customer base to determine a rate. The discount fee can start as low as 1%. Q: Do I have to advance against all of my invoices? A: No. AllBizFund allows you to simply select the invoice(s) you would like to advance on. You have total freedom in managing your advances with no charge on invoice(s) you do not advance against. Q: After I submit an invoice to advance against, how long do I have to wait to get my money? A: We process advances on the same day they are requested. No lag time at all. Q: What do I have to put up as collateral for my AllBizFund account? A: Inova offers both a non-recourse AllBizFund product and a recourse AllBizFund product. Both products require a first lien position on all accounts receivable. The recourse product also requires a personal guarantee. Q: How do I track the costs of this product? A: The strength of AllBizFund is our attention to detail. For each check received, you will be able to access online, on a real-time basis, an itemized report indicating the recovered advance amount and our deducted fee. AllBizFund has no hidden fees, and you are charged only for invoices you select to advance on. Q: Is there an application fee to apply for an AllBizFund account? A: There is no fee to apply. Q: How do I get my invoices to Inova Capital? A: From your secure client interface, you can upload your invoices to Inova Capital directly from your accounting package. Q: What if I am not very computer savvy? A: No problem. Inova Capital provides training and on-going support and will walk you through each step. Additionally, if you are more comfortable, you can send or fax Inova Capital copies of your invoices. |
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