Progress Payment Product
This product’s use is limited to certain conditions in all industries except ATM and Bankcard.
TimePayment understands that not all industries can have next day delivery and installation of equipment. We also understand the cash flow crunch you would experience if you had to wait until the leasing process was complete in order to receive funding.
Our Progress Payment Product is a funding product that allows you to receive 50% of the leased amount upon TimePayment receiving a completed Lease Funding Package and the rest upon delivery and acceptance of the equipment by your customer.
We offer this product in the following industries:
- Automotive Repair
- Point of Sale
- Security
- Sign
These are industries in which a significant delay between the lessee singing the lease agreement and your final installation of the equipment.
A “Vendor Dependent” Progress Payment means you guarantee to pay TPC the 50% funded under any circumstance in the event the lease does not start.
Getting Started
A Vendor Progress Payment Agreement form must be completed to use this product.
Please speak with your Business Development Manager for more details.