Here’s How It Works

When you invoice your customers, simply e-mail a copy of the invoice to Chesapeake Bank. The next day, you’ll have the cash in your checking account (minus a percentage held for you in a money market savings account to cover non-payment). It’s as simple as that.

Costs and Fees

The fee for Chesapeake Bank’s Cash Flow Program is a small percentage of each invoice. Usually less than what it would cost you to accept credit cards for payment. As long as your customer pays you within 90 days (by mailing payments into a bank-controlled lock box), there are no additional costs. If the invoice is not paid within 90 days, it is simply charged back to your savings account while you continue your collection efforts. Chesapeake Bank does not attempt to collect from your customers. We remain an “invisible partner” while you run your business on a cash basis. Use your cash to pay off lines of credit, catch up on accounts payables, and invest for further business growth. We’re certain you’ll agree with our other satisfied customers that the efficiency and profitability you gain from operating your business on an all-cash basis easily justifies the small fee involved.

Qualifications:

• Commercial receivables only
• $100,000 minimum request
• No bonded receivables
• No third-party medical receivables
• No general contractors