Palo Alto, CA Nov 8, 2016 – Payplant announced today that it recently provided a $3MM Invoice-based line of credit to an IT staffing & consulting company that has a large public company as their main customer. “We were able to offer incredibly competitive rates given the account debtor and existing payment history”, said Co-CEO and Co-founder, Neerav Berry.
Payplant is able to offer services that traditional factoring companies cannot offer due to our advanced and unique setup featuring no monthly minimums, no requirement to factor every invoice, no origination fees and no termination fees.
Payplant provides growth financing for entrepreneurs, by entrepreneurs. Its Pay Me NowTM digital invoice-financing service provides cash to businesses when their customers pay too slowly. Payplant helps businesses with PO and Invoice Financing, Asset Based Lending, Term Loans and Customer Financing products. Payplant works with companies that don’t currently qualify for traditional bank financing, have grown too quickly for their current lender or are at the point in their evolution where an influx of working capital can elevate their business to achieve rapid growth. Payplant delivers fast and reliable funding, at very attractive rates and is completely on demand. For more information, visit www.payplant.com.