What Is Fee Financing? - QuickFee - Payment Portal & Fee Financing For CPAs, Law Firms, and More
QuickFee's Fee Financing option offers clients the choice to pay their owed professional fees with monthly installments while we pay the professional firms within days of invoicing. Learn more about the benefits of this fee financing option. Inquire today.
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What Is Fee Financing?

Past due invoices are a major problem for CPAs and accounting firms. Nearly 30% of the accounts receivables owed to firms outside of the “Big Four” are more than 90 days past due.

 

The solution isn’t angry phone calls or threatening letters. It’s fee financing.

 

Fee financing is an arrangement where a “silent middle-man” like QuickFee gives your clients the opportunity to pay their invoices in monthly installments, while you get paid in full upfront. You get paid within days of invoicing, providing the cash flow you need to grow your firm.

 

How Does Fee Financing Work?

 

QuickFee’s fee funding process involves three steps:

 

Step #1: Sign Up

 

Reach out to QuickFee for a free consultation to determine whether or not our services are the right fit for your firm.

 

Step #2: Enroll Your Customers

 

Once you’ve signed up, you’ll be able to offer clients and prospects the option to pay your invoices over a 3-12 month period. Fee financing assistance can be arranged in several different ways:

 

  • Manually direct clients to the fee financing payment option through QuickFee’s cloud-based system.
  • Add a link to your new fee funding option to your client invoices.
  • Use QuickFee’s payment portal, which includes not just our fee financing arrangements, but credit card and EFT/ACH payment options as well.

 

Step #3: Get Paid

 

Sit back, relax and – within 4 business days – you’ll have full payment from your clients, while we handle collecting their monthly payments.

 

How Fee Financing Makes You Money

 

We’re not just talking about putting the money you’re owed into your pocket. By improving your cash flow with QuickFee’s fee financing program, you can:

 

  • Attract new customers who need a large volume of work, but don’t have the cash to pay for it upfront.
  • Earn more work from customers who have been putting off new projects as a result of past-due invoices.
  • Free up extra cash for new marketing and advertising campaigns.
  • Grow your base of referrals from satisfied customers who appreciate the flexibility of payment terms you offer.

How Can I Get Started with Fee Financing?

 

QuickFee makes it easy to collect the money you’re owed. Contact us today with any questions or to get started with fee financing.

Top Questions About Fee Financing

 

Fee financing is such a recent development in the accounting world that our solution was named one of Accounting Today’s Top New Products of 2017.

 

But since it’s so new, we understand that you might have questions (we would too!). A few answers to the questions our new customers commonly have are below, or you can visit our FAQ page for more information.

 

Do you offer fee financing to everyone?

 

To keep our program sustainable, we run a credit check on all companies that apply for fee financing through QuickFee.

 

How much can clients pay using fee financing?

 

Fee financing loans start at a minimum of $2,000 ($5,000 in California). We don’t have any upper limits in place, although we set loan terms based on your firm’s exposure. Our payment portal can process payments of up to $100,000, though you can contact us to arrange payment on larger invoices.

 

What will fee financing cost me?

 

To keep costs affordable, we base our fees on both the size of your firm and the volume of credit card payments you process.

Companies win more work with QuickFee

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