Santa Monica, CA, January 31, 2017 --(PR.com
)-- Funding and payment portal provider QuickFee has announced a drop of several points on its popular Fee Financing product. Now the clients of professional service firms can take out a loan for as low as 7.5% to pay for outstanding and even upcoming invoices. The rate cut reflects increased scale provided from the firms that have already signed on, making QuickFee one of the few finance companies in the country to be lowering rates rather than increasing them.
QuickFee’s services were introduced in the U.S. as a way for accounting firms to provide clients more flexible payment options, but this week QuickFee has announced that their offerings are now available to law firms and other professional service firms. Said Bruce Coombes, CEO of QuickFee, “Law firms need the right tools to fuel and support growth, and QuickFee is a powerful one to do so.” QuickFee is the only company in the U.S. providing law firms Fee Financing options for their clients.
Fee Financing has just started to take off in the U.S., but has been popular for years in other countries such as the UK and Australia. Fee Financing is a loan service whereby firms are paid in full by clients using the financing as their payment option, meaning clients can pay immediately regardless of cash flow. It’s similar to borrowing money from a 3rd party lender at your dentist’s office to pay for dental work. The clients can then pay off the fees in monthly installments to QuickFee. Firms benefit from their outstanding receivables being drastically reduced, and clients benefit from spreading out large bills across many months.
Firms have also used Fee Financing as a tool to draw in new clients, using the monthly payment option to those that want more flexibility, or by providing fixed-fee packages paid monthly where QuickFee is the intermediary.
Review a summary of how Fee Financing works here:
Visit QuickFee’s homepage here: