Frequently Asked Questions

If you prefer to speak directly with someone just give us a call (855-717-6400) or send us an email (info@cashflowprogram.com) to discuss your needs.

1. Do I have to fund all Accounts Receivables?

No, you have the option of funding all customers of your company, or a select few to meet your working capital need.

2. What is the cost?

The cost depends on the following: 1. The total size of the working capital facility needed to fund your company 2. The financial quality of your company 3. The average collection cycle of your accounts receivables. Our Cash Flow programs fit the niche between traditional bank financing and alternative markets (factors). The fee is a percentage of the funding volume. The rate depends on your financials and terms. Once we have your complete financial package, we can have a proposal to you within 48 to 72 hours.

3. How does it work?

The simple example is if you have a $1,000 invoice, we advance $900 to your company and place $100 in a bad debt reserve. When the invoices pays, the $100 is released to your company, less the fee.

4. How are payments and collections handled?

Your customers make their checks payable to your company but mail them to our payment remittance lockbox. We apply the payment to your account the same day that it is received. Additionally, your company maintains and continues its own collection procedures with your customers.

5. How does my company qualify?

We collect a standard Bank financial package along with current Account Receivables and Account Payable reports. If we determine that we can help your company, we will provide a proposal with the pricing and basic structure of the program. If accepted by you, we start the underwriting process toward gaining approval to give you better “Cash Flow!”.

6. How long does it take?

Our credit team meets every Monday morning; thus, we can generally have your company funding with Cash Flow in approximately seven days.

7. How quickly can I get my invoices paid once I sign up with Cash Flow?

Once you are up and running on the Cash Flow Program, we typically fund invoices within 24 hours of receipt – often the same day.

8. What is your maximum facility limit?

Our working capital credit facilities range from $100,000 to $5,000,000. We also have peer banks that do participations with us on working capital facilities that exceed $5MM. Thus, we can grow with you for a long time. The companies we work with generally have sales revenues ranging from $1,000,000 to $50,000,000.

9. How do I request funding?

Once approved and your account is set up, you’ll import a funding spreadsheet and copies of your invoices. Generally, we try to fund the same day or within 24/48 hours.

10. Do I change banks?

No, you keep your checking and operating account with your local bank. We deposit into your local bank account by ACH (free of charge) or by Fed Wire ($10).

11. What happens if I terminate my relationship with Cash Flow?

If you terminate within six months, the termination fee is minimal. After six months, the termination is $0.

12. Do I have a long-term contract with Cash Flow?

No, we do not have long term contracts. Your working capital facility renews every year on your anniversary date. Since we do not have long term contracts, you’ll never be charged “unearned fees or minimum commissions” if you no longer need Cash Flow.

13. Why should I use Cash Flow and not another factoring company?

Cash Flow is a Subsidiary of top-rated Chesapeake Bank. We are a safe, federally regulated, low-cost option for company’s who need improved cash flow. Because of our excellent pricing and customer service, our average customer stays with us for over five years.

14. How long has Cash Flow been in business?

Cash Flow started offering financing options to businesses in 1995.

15. Are you MemberFDIC insured?

Yes. We are also members of the International Factoring Association and the American Factoring Association.

16. What do your existing customers like about Cash Flow?

We keep it simple! Once approved and funded, the only expense you have is the interest expense. Unlike many funding sources, Cash Flow does not surprise you with hidden and crazy fees. Our customers like us because of our easy and straight forward approach of doing business together.

When the Banks Can’t Lend, Cash Flow is Here

The problem

It’s a beautiful thing when your business has grown in such a way that there is a demand for your product or service. But when that demand exceeds what you can provide in a timely manner, it can become a real frustration point for the client and you as the business owner. Often a business will have to wait for payment on existing accounts before they can acquire or satisfy new ones.

When this happens, most companies will reach out to someone they know, an investor, or their bank to inquire about a loan to fund the gap.

Traditional options aren’t always a fit

The truth of the matter is, there isn’t a ‘one size fits all’ solution for every business in this situation. Borrowing from family, friends, and investors can bring unnecessary strain upon relationships too.

While we always try to guide customers toward a lending solution, there are times that a bank isn’t even in the position to help out.

For a variety of reasons, sometimes a bank may be forced to tell a business ‘no’ either because it is “too new” or “too small.” You can even grow ‘too quickly’ or become ‘too leveraged’ to satisfy the requirements of lending regulations. Even if you’re only stretched thin because you purchased new equipment to sustain your expansion. 

Other times, if a bank can help at all, it’s not nearly for the amount that you needed.

We understand your pain, and that’s exactly why we have ‘Cash Flow.’

Our Cash Flow division brings a unique solution to the table

You see, most banks are required to look backward at your credit history to determine if you qualify, but the Cash Flow model is built around your assets and receivables. This structure provides a track that measures for future growth opportunity.

So even if you’re paid slowly – 120 days out, or if you don’t have hard assets to borrow against, you may still be a good fit for this type of funding. In fact, B2B receivables, or a strong customer base, may be all you need.

Making the assessment

Just to be clear, Cash Flow is not for businesses who need money in 48 hours to stay afloat or to take advantage of a quick offer. We are here for companies who manage their business well, and who could do so much more, with greater profitability, if only they could get paid the day they invoice, rather than waiting.

In as little as 24 hours, our team can assess your needs and let you know if we can help. If for some reason, we aren’t able, we do have other resources that we can provide.

The underwriting process can take several days to complete, but when you meet our team and get a taste of the benefits, we believe you’d find it worth that wait.

You know as well as we do that growing is a good thing. Even if you’ve had a rough spell, if you’ve been able to turn things around, you’ll need better cash flow more than ever.

Let’s make your story a success! Contact Cash Flow now.

Meet Travis: The True Small Business Advisor

By Reggie Connaughton

Travis Reynolds

Travis Reynolds joined our team this spring as the District Sales Manager of Virginia and Maryland. He came to us with seven years of previous bank experience that includes lending, management, retail banking, and business development. He also graduated from VCU with a degree in Economics.

While most of his days look like anyone else’s in the nine-to-five world; full of meetings, phone calls, and email, he is excited to educate others about ‘alternative lending,’ the most common type being factoring.

What this means is that if your company has accounts receivables, we can ‘purchase’ your invoices; paying you what your customers owe. In most cases, we can provide funds the next day too! This frees up the 90-120 day period that you would have to wait for payment from the customer, and allows you the funds to keep ’handling business.’ Then we accept payments from your customers on their invoices and apply them to your account with us.

What excites Travis the most, aside from the success stories, is the enthusiasm from others when they learn about the program. Many people don’t know, and are surprised to learn, that that there is an honest, local, and bank-owned, alternative to traditional lending. It just so happens that networking with other bankers is also a key opportunity. While it would seem like competition, we can take a business that another bank had to turn down and get them on their feet. Then return them to the bank that they started with if the client chooses to do so. That becomes a triple win.

Because this solution allows us to use what the business already has in place, it feels more like a holistic approach with sustainable growth. Even when our service is not a good fit for someone, Travis still enjoys making other connections between people and the resources that they need.

Travis was also married in the spring and purchased a new home. He is a bass-fishing enthusiast visiting lakes and rivers as much as he can. Drop him a line. He may be able to help you make a catch worth talking about.

Connect with Travis | Travis’s LinkedIn Page | 804-432-6740 | treynolds@chesbank.com | Apply Now

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