Disclosures
The page every number on this site points back to: who funds which product, what a working capital advance actually is, a representative example in full, fees, prepayment, liens, and state disclosure notices.
Who funds what
Timecard Capital underwrites and funds invoice factoring facilities, working capital advances and lines of credit directly, from its own capital, through in-house underwriting.
SBA 7(a) loans, SBA Express loans, and term loans above $500,000 are packaged by Timecard Capital and placed with bank and SBA-preferred lending partners. Timecard Capital does not make SBA credit decisions. Where a file is placed with a partner, the partner is identified to you in writing before you sign.
What a working capital advance is, and is not
A working capital advance is the purchase of a specified dollar amount of your business’s future receivables at a discount. It is not a loan. There is no interest rate, no amortization schedule, and no annual percentage rate, because there is no term of repayment in the sense a loan has one. You repay a fixed total amount through fixed daily or weekly ACH debits until the purchased amount is delivered.
Representative example
Representative example — working capital advance
- Amount funded
- $150,000
- Total payback
- $190,500
- Cost of funding
- $40,500
- Daily payment
- $756 across 21 business days per month
- Weekly payment
- $3,664
- Expected duration
- 12 months
- Status
- An illustration, not an offer. Your amount, payback, and payment depend on underwriting.
This is an illustration, not an offer. Your amount, payback, and payment depend on underwriting. The same figures appear on the working capital page.
Representative example — invoice factoring
Representative invoice — $60,000 on net-45
- Invoice face value
- $60,000
- Advance (90%), within 24 hours
- $54,000
- Fee
- 2.5% per 30 days of face value, prorated by the day — illustrative
- Fee at 45 days
- $2,250
- Released when the client pays
- $3,750 ($6,000 reserve less the fee)
- Status
- An illustration, not an offer. Your advance rate, fee and facility limit depend on underwriting of your clients’ credit and your receivables.
Invoice factoring is the purchase of specific, invoiced business-to-business receivables at a discount. It is not a loan to the agency. The fee accrues only for the days an invoice is outstanding and is deducted from the reserve when the client pays. On a recourse facility an unpaid invoice is returned to you; on a non-recourse facility the funder carries the credit risk of the client’s insolvency. The structure is stated in your facility agreement before you sign. The same figures power the factoring estimator on the home page, which is likewise illustrative.
Fees
Timecard Capital charges no application fee. An origination fee may apply and, if it does, it is disclosed on your offer and deducted from the funded amount before disbursement. Returned-payment and default fees, if any, are stated in your contract. There are no hidden fees and no fees added after signing.
Prepayment
Working capital advances carry a prepayment discount of up to 30% of the remaining cost of funding when paid off within the first 30, 60, or 90 days. The exact schedule is stated in your contract. In-house term loans up to $500,000 carry no prepayment penalty. Partner-placed term and SBA loans follow the partner’s and the SBA’s prepayment terms, which are disclosed in the term sheet.
Personal guarantee and liens
Working capital advances require a personal guarantee of performance. Term loans and lines of credit require a personal guarantee and a UCC-1 filing.
State disclosures
Commercial financing disclosure statements are provided as required in California, New York, Utah, Virginia, Georgia, Florida, Connecticut, Missouri, and Kansas, and in any other state that adopts a commercial financing disclosure requirement. Where a state requires a specific disclosure format and an estimated APR, that disclosure is delivered with your offer before you sign.
Timelines
“24 hours,” “same day,” and “about 4 hours” describe typical outcomes on complete files during business days, Monday through Friday, 9:00 AM to 7:00 PM ET. Holidays, incomplete files, bank verification delays and third-party response times can extend any timeline.
Trademarks
All marks referenced on this site are the property of their respective owners. Reference to a payroll, timekeeping, applicant-tracking or vendor-management platform is descriptive and does not imply any affiliation, sponsorship, or endorsement in either direction.
See also: Compliance & Responsible Funding · Terms of Use · Privacy Policy · the five products.
Questions about any of this?
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