New and not sure where to start? Let’s walk through all the basics.
Crowdz’s invoice auction is unlike any other, allowing your business to control its cash flow on your terms. Our platform utilizes invoice financing to enable you to sell unpaid receivables to third-party funders in exchange for instant cash. In other words, you can bypass those net 30 terms and get your money right now. Here is your guide to using Crowdz:
What are the perks of auctioning with us?
- There’s no limit on how many invoices you sell
- Every funder bid is available for you to review
- You decided which bid to accept
- Post invoices to sell whenever you like
You can learn more about invoice factoring here. If you’ve already decided to turn unpaid receivables into instant cash, here are your first to-dos, what to expect, and when you’ll get paid.
4 Things To Know When Creating Your Account
- We’re here to get behind your business and get the cash rolling. For us to do just that, it helps to know about your company and yourself. After all, no two businesses (or owners) are alike.
- Your personal and business information is confidential—always.
- If you’re wondering and worrying about credit pulls, don’t. We’ll never run a credit check; that’s not how we play.
- Connecting your accounting software is easy. We did that on purpose so you can focus on what you came for: $$$.
How Funding And Timelines Work
Everyone’s cash flow could use a boost asap. Fortunately, Corwdz can make funding happen in as little as 72 hours. All you have to do is submit your business information and specify auction parameters when uploading invoices—we’ll take care of the rest. Once bids are available, you’ll have a chance to size them all up and select the most favorable offer. And boom, your money is on the way!
Invoice Auction Rates and Percentages
With Crowdz, you can expect rates as low as 2% for 60 days. We’ve made repayments pain free—think quick, easy, and straightforward—thanks to one-click payment submission. Log into your dashboard to get started.
Our 5-Step Bidding Process
- Step 1: You post an invoice on our auction. You can fund one or all of your receivables—it’s your call.
- Step 2: Funders bid on posted invoices
- Step 3: Compare bids and choose the most favorable
- Step 4: Accept a funder’s offer with o
- Step 5: Your money is on its way!
About Cash Flow Solutions
Knowing more allows you to do more, but learning about business financing options can be confusing. Enter the Crowdz blog. If you’re interested in how invoice financing, factoring, and lines of credit stack up against each other, check out these articles below.
Invoice Financing Vs. Invoice Factoring
The big differentiator between factoring and financing is who does the collecting. When it comes to financing, the customer retains control over collecting the unpaid invoice. In factoring, the factoring company that bought the invoice also takes over the collection. Read How To Choose Between Invoice Financing And Invoice Factoring to learn more here.
Lines of Credit
In a nutshell, LOC is a loan from a financial institution from which you can access a limited amount of funds. Borrowers can tap into their lines of credit on demand until they reach their credit limit. Paying the loan back increases funds, so as long as you keep up with payments, you can keep drawing against it. Our article on financing options touches on why a company might consider this option for short-term needs.
Where does our invoice auction fit in all of this? Good question. We’re about simplifying and maximizing business financing. It’s about taking the money you already have (your unpaid invoices) and making it work as hard as you do. If you’re curious about how we got started or why our logo is a pair of dolphins, dive into our story here.