Chesapeake Bank has made available its Cash Flow program, which provides next-day cash advances to a client for a portion of a carrier’s accounts receivable invoice for a fixed fee
April 10, 2006
Chesapeake Bank has made available its Cash Flow program, which provides next-day cash advances to a client for a portion of a carrier’s accounts receivable invoice for a fixed fee.
Cash Flow, said Chesapeake Bank, provides next-day funding for accounts receivable enabling immediate and steady cash flow along with financial flexible for clients.
A portion would be held in a savings account to cover non-payment with no additional non-payment fees for 90 days. As invoices come in, checks would be payable to the carrier and mailed to the bank’s P.O. Box.
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