Pay App Advance*
Traditional Invoice Financing
Pricing
Advances up to 100% of the total pay app
less a purchase fee
Advances 70-95% of the total pay app
No wire or transfer fees
$15-$25 Wire and transfer fees
Relationships
Serviced through the subcontractor
(subcontractor pays Billd)
Serviced through the GC, taking the subcontractor out of the payment chain (GC pays financing company)
No contact with GC during pay period
Ongoing contact with GC throughout the pay period
Servicing
Payments and approval as quickly as same-day
Average of 3.4 days to approval
Use on a pay app-to-pay app basis
Must be used for every pay application on a project