It's your cash. Put it to work.

Imagine the process you’re already doing, only cheaper, centralized, and automated. It’s not a dream. It’s the power of Silo's modern financing solutions.

It's your cash. Put it to work.

Can you see your business in any of these real-world examples?

“I typically sell to Customer X once per month but, since I now get paid more quickly, I have the capital to buy and sell to this customer 2-3 times per month.”

“My customers typically pay me in 21-30 days, but I have to pay my vendors in 15-21 days, so the more I sell and the faster I grow, the larger the gap in cash that I need to cover. Instant Pay covers that gap by paying me in 3 days, giving me the consistent, reliable cash flow I need to grow my business with confidence.”

“Since starting with Instant Pay I've been able to acquire two new customers by providing them with more favorable payment terms since I know I can rely on Instant Pay for funding upfront.”

“Since starting with Instant Pay I've been able to strengthen my relationship with several vendors, while securing product at discounted rates due to my ability to pay them more quickly and/or increase the volume I purchase.”

Funding that's approachable... Case Study

“Instant Pay bridged the cash flow gaps and acted as a booster to accelerate our growth potential.”

 – Xavier Ponce |Operations Manager |Carcione's Fresh Produce Company

Funding that propels growth... Case Study

“With Silo's financial backing we could, overnight, negotiate better purchasing prices with our suppliers and expand profit margins.”

- Manny Concepcion | CEO | NYC Tropical House

Silo Instant Pay FAQs

What does the initial review and approval process look like?

Getting approved is fast and can be completed in three easy steps: First, we will review the last 12-24 months of your sales and customer payment history via a simple, automated account linking process. Second, we’ll help you notify your customers that you are updating the address and bank account for customer payments (they will still address payments to your company name, only the mailing address and bank account number change). Last, you’ll provide Silo with your company’s bank account info so Silo can send funding directly to your account.

Can I select which invoices go through Silo Instant Pay?

Invoices are qualified and automatically funded at the customer-level. You can let us know if you’d like to add new buyers or pause / resume funding on an existing customer.

What rates do you offer?

Our standard rate is 2% per invoice funded. This drops to as low as 1.5% if you are a Silo software customer.

What percentage of the invoice will Silo fund initially?

Silo will initially fund up to 90% of the invoice. This is based on a buyer qualifying through our underwriting process and can range from 70%-90% based on your history with that customer, their timely repayment rate, whether they are paying you through Silo, and whether there are any open claims against that customer.

How quickly will I receive money from Silo?

You will receive funding for an invoice within 3 business days of fulfilling the invoice.

Will my customer send money to Silo’s bank account or to mine?

Customer payments are received into a Silo custodial bank account, where the payment is matched and reconciled against your invoice. Then 100% of your customer’s payment amount is transferred to your business bank account, typically arriving within 1  business day of receiving the customer’s payment.

When a customer pays me, will my business name be on the check or will Silo’s name be on the check?

Your business name will be on the check and/or ACH payment and your customers will continue to pay you (just to a different address and bank account). Silo operates a custodial bank account where we are authorized to deposit and transfer funds on your behalf.

How many days until the repayment is due to Silo? What is a Expected Payment Period?

Each time Silo approves a customer for Instant Pay, Silo will assign a specific Expected Payment Period based on the customer’s prior payment history to your business. The Expected Payment Period determines the date on which the repayment of the advance on any invoice for the approved customer is due to Silo. For example, if your customer is approved for a 35 day Expected Payment Period, the repayment to Silo is due 35 days from the Invoice Date.

How does Silo get reimbursed for funding?

Silo will schedule the automatic repayment of your Instant Pay advance directly from your bank account. The date of the repayment will be scheduled, based on the number of days in the Expected Payment Period your customer is approved for (e.g., 35 days from the invoice date). If Silo is unable to collect the amount due during the scheduled payment, customer payments will be used to cover your payment to Silo to help you avoid or minimize any late fees.

What happens if my customer pays late? What if they don’t pay at all?

If your customer does not end up paying the invoice, you will still be responsible for reimbursing Silo for the balance owed. This will occur with the scheduled repayment at the expected payment date. Silo’s payment processing and reconciliation service will still process customer payments even if Silo has already been reimbursed for the funded invoice.

What happens if my customer rejects some, or all, of my product after Silo has advanced me funds?

The repayment amount and fees will continue to be based on the invoice balance at the time of advance.

If the adjusted invoice balance is still greater than or equal to the advance amount and the fee, no action is needed and Silo will collect the amount due at the scheduled repayment date.

If the adjusted invoice balance is less than the advance amount and fee, Silo will withhold from any inbound customer payments until the balance is equal to the advance amount plus the fee, or you can always send Silo an ACH to clear any difference.

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