The State of Illinois created the Vendor Payment Program to address the issue of delayed payments to its vendors.
Payplant pays 90% of the invoice amount upfront. The remaining 10% is paid when the State pays Payplant.





How It Works


Step 1. You Register

Takes a minute & there is no obligation.



Step 2. Consent to work with us

Sign a consent form so that the State can share your eligible invoices with us. All invoices that are 90 days past due are eligible, except Medicare invoices.


Step 3. 90% upfront. Remaining when State pays us.

Get 90% once the State confirms the invoice.

Remaining 10% (net of offsets) is paid in two parts:
1) 10% less penalty when State pays the invoice
2) Remaining when State pays the penalty          

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What are Eligible Invoices?
1) Invoices that are eligible to receive the Prompt Payment Penalty according to the Illinois Prompt Payment Act
2) At least 90 days past due
3) Free of liens or encumbrances
4) Medicare invoices are not currently eligible
When does my business receive cash?
Once registration is complete, eligible invoices can be assigned to Payplant. You then receive 100% of the invoice amount in the following 3 payments:
1) 90% of the invoice amount once State approves the assignment
2) 10% less 1% per month penalty when State pays the invoice
3) Remaining balance when State pays the penalty
How does Payplant make money?
Payplant makes its money from the 1% penalty paid by the state. It is redirected to Payplant on assignment of an eligible invoice. There are no additional fees or charges in the program.
What is an Assignment?
An assignment in the Vendor Payment Program is a sale of the eligible receivable from the Vendor to Payplant. Vendor is selling the rights to the receivable, including the Prompt Payment Penalty, to Payplant in exchange for 90% of the invoice amount upfront and balance when the State pays. The "Assignment Agreement" is the legal document that governs the terms and conditions of the assignment.
Do I have to assign all my State invoices to Payplant?
No. Assign only the eligible invoices that make sense for your cash flow needs.
Am I signing my life away?
No, there are no personal guarantees required. We will qualify based on Company Financials and Contracts with the State.
What is a Qualified Purchaser?
A Qualified Purchaser is a firm that has partnered with the State of Illinois to provide funding and administration of the program for vendors. Payplant has met the State's requirements for infrastructure, service, security, and capital.
How does this benefit my business and my employees?
Every business has day-to-day cash needs for payroll, bills, materials, and new projects. The program gets cash to you faster than waiting for months for the State. You can operate your business with more certainty knowing that you have access to 90% of the invoice amount now and the remaining 10% when the State pays us.
What is an offset?
Offset is the amount by which the State of Illinois short pays the invoice. The reasons for an offset include, but are not limited to, taxes, child support, contractual fees or other money you owe to the government. Offsets may occur prior to assignment, prior to invoice payment or prior to penalty payment. The offset amount is deducted from the remaining balance due to a vendor by Payplant. If the offset is greater than the sum of the reserve amount (10% of the invoice amount) and the penalty, then the vendor must pay Payplant the difference directly or via another assigned invoice. For additional details, please see the Assignment Agreement.