Capital Solutions Bancorp's Financial Services Rates and Fees
When taking advantage of Capital Solutions Bancorp's financing services, there are three types of fees involved: set-up fees, on-going fees and expenses. All of Capital Solutions' fees are among the lowest available in the industry.
Your Financing Service Options
Whether you require invoice financing or purchase order financing, you will receive detailed information about the range of fees listed below. Some things we discuss with you include one-time fees vs. recurring, whether you have domestic or international operations and risk of returns.
The variables for purchase order financing are too many to cover here. Instead of overwhelming you with more information than you need, please contact us to discuss the variables that apply to your business. The following describes the fees for invoice financing services.
Initial set-up expenses
To set up a new client involves costs, such as preparing and filing UCC-1 forms, courier fees and other initial expenses. We pass on these costs to the client with no mark up, so you pay the exact amount for the service you get.
These fees rarely exceed $250 and they're only a one-time fee that occurs when setting up your account.
There's also a $350 one-time initiation fee to open an account with Capital Solutions. The initiation fee is fully refundable when you decide it is time to end your relationship with Capital Solutions. All you need do is ask.
Best of all, you do not have to write a check to get started. Instead, you'll keep your cash and we'll simply deduct the amount from your first Capital Solutions funded invoice.
On-going Fees
For most of the financial services offered, Capital Solutions charges fees from 2.45% to 2.95% per month. So for example, if we agree to fund $50,000 in invoices in one month, we take between $1,225 and $1,475 for servicing you and for taking the risk.
The following factors affect your final rate:
- The number of active customers you have and how much of your business is spread amongst them.
- Your customers' credit ratings.
- Probability of return. Customers generally never return services, but goods often are.
- The value of the invoices you want funded. In many cases, the more invoices you want funded, the lower the rate.
- Average amount of an individual invoice.
- Your business experience and history.
- The amount of documentation you have of your sales. This is for verification purposes.
We do not charge any other ongoing fees like line fees, monthly maintenance fees or line renewal fees.
Miscellaneous Expenses
From time to time, we incur expenses as part of our work with you. We'll ask you reimburse us for the expenses. These expenses may include wire transfer fees, FedEx charges and so on. We bill you for these expenses at cost, thus we don't any extra money from these charges.
If you agree that our rates and fees are one of the most reasonable in the industry, then get started using one or more of the financial services designed to help your business grow. Contact us for more information about financing, the costs of the financial services available to you or any questions you have about growing your business.
