SPS Invoice Financing is powered by Kanmon, a commercial financing company we’ve hand-selected to enable our customers to use invoice financing.

Kanmon is a licensed commercial lender founded by a team with deep lending experience and backed by FIS Global, a Fortune 500 financial technology business. For more information about Kanmon, visit www.kanmon.com.

Kanmon Approved credit limits are based on a variety of factors related to your business, including your outstanding debt balance, business expenses and income, account history, payment frequency and more.

Along with your credit limit, Kanmon provides you with simple options for repayment terms and transparent fees associated with each repayment time frame. If you take an advance on an invoice that is due in up to 30 days, you’ll repay your funds in 30 days. If your invoice has longer terms, you may be able to select whether you’d like to repay your advance on a more flexible timeline.

For an invoice advance with repayment in 30 days, Kanmon’s fees typically range from 2%-4.5%. We are here to help you accelerate payments across any retailer you work with, while keeping you in control over your relationships with customers.

Once you’ve started, Kanmon periodically reviews your credit limit to help support any need for growth.

No! The application process itself does not impact credit. Kanmon conducts a soft pull of your credit report, which does not affect your personal credit score.

Securely connecting your business bank account allows Kanmon to review your cash flow and determine your best invoice financing offers. Kanmon also automatically deducts repayment from the account you’ve connected.

Yes! Simply click the “Get Started” button to sign up for your own credentials, which will not be included in your license count with any other SPS services according to the current parameters of the program. Once you’ve accepted an offer, SPS will link your credit line to your business’s activities within SPS. Additionally, you can grant permission to selected team members who are more frequent SPS users to manage and advance invoices on your behalf.

Yes! After your credit line is active, you can submit valid PDF invoices that you’ve sent to other customers, even if they were not generated through SPS. This allows you to expand your financing options beyond SPS-generated invoices.

Details of your invoice financing agreement, including your available credit limit and fees, are typically presented to you within one business day; however, in rare instances it can take up to three business days.

Repayment terms are determined upfront and are structured as fixed payments that are automatically deducted from your bank account. Each time you select an invoice to finance, you will have the option to select the duration of your repayment terms.

Yes! You can repay early without penalties.

You can track your outstanding balance, payment history and other useful information in your funding portal on the SPS Commerce platform. This information will begin to update as soon as you receive your funds.

Kanmon does charge a $25 fee for any late payment. Also, if a payment gets returned because of insufficient funds in your business bank account, Kanmon charges a separate $35 fee.

Invoice financing and factoring are both methods of obtaining funds based on outstanding invoices, but there are a couple of distinct differences. With factoring, you give up control over collecting payments from your customers, and the factor company takes over this task. This can sometimes lead to a less direct relationship with your clients, and they may be less inclined to pay promptly to a third party. Also, with factoring, you typically don’t have the option to select which invoices you would like to finance. It’s all or nothing.

With SPS Invoice Financing, you have total control over which individual invoices you want to get paid early on. You continue to collect payments from your retail trading partners, allowing you to preserve those valuable relationships. You have fast access to funds to support your growth, without giving up control over your business.

SPS Commerce has chosen Kanmon as its trusted partner to help bring unique financial solutions to our valued customers. Kanmon provides relevant, cost-competitive financial solutions to help SPS Commerce customers grow and run their businesses more efficiently. Kanmon provides a streamlined, intuitive onboarding experience and serves financing offers back to qualified borrowers within 1-2 business days. Consider Kanmon the growth partner, hand-selected by SPS Commerce, to solve the unique challenges that business owners face today.

Kanmon is a licensed commercial lender founded by a team with deep lending experience and backed by FIS Global, a Fortune 500 financial technology business. For more information about Kanmon, visit www.kanmon.com.