iCREDIT Pricing

iCREDIT pricing

iCREDIT Pricing

A solution is not a solution if it is not affordable. iCREDIT provides demonstrable value that offers immediate opportunities to increase profits and eliminate liabilities and risks for B2B businesses and CRE properties no matter what stage of life they find themselves in.

Pricing is simple:

  • Basic Subscription. The monthly subscription is priced based upon receipts received into the customer’s account (sales, loan proceeds, capital contributions, etc.) for that calendar month for Basic Services:
    • On the first $50,000 per calendar month the fee is 2% of receipts.
    • On the next $50,000 per calendar month the fee is 1.5% of receipts.
    • All additional receipts are assessed a fee of 1.00% of receipts.
  • Additional Users. Two (2) authorized users are provided access under the Basic Services Program. Each additional user requires payment of a fee of $25.00 per month, per user.
  • Onboarding Fees. Onboarding fee is no less than $5,000.00 to no more than $50,000 (the more complex transactions and/or transactions with a large number of vendors being assessed the higher fees). Onboarding additional users requires a fee of $250.00.
  • Third-Party Fees. iCREDIT requires the services of a separate fiduciary who manages the account. iCREDIT licensed fiduciaries agree to charge the following fees under the Basic Services section of the iCREDIT Licensing Agreement:
    • Bank Transfers – direct cost of wire transfer or ACH transfer.
    • Escrow Fees – 1% on first $5,000,000 in receipts into account per annum and 0.50% on all additional receipts per annum.

Affordability Analysis

Here follows is a simple demonstration of the potential savings and affordability owing to the iCREDIT Basic Services program.

iCREDIT is designed to support any B2B business or commercial real estate property that anticipates having more than $550,000 in receipts pass thru their account in a given 12-month period. For the purposes of illustration, we will use an example of a business that is already in operation and receiving approximately $50,000 a month in receipts into its business accounts.

  • Total Monthly Receipts of Test Case Per Month: $50,000
  • Total Base iCREDIT Fee Paid: $1,000.00 (2% of Receipts)
  • Savings Analysis. The following charges are based upon national averages for these costs that create more than $4,000 per month in potential profit for the Test Case Business:
    • Bookkeeping & Accounting Services Savings: $400/Month (Source: www.growthforce.com)
    • A/R & A/P Position Eliminated: $3,329 (Source: www.salaries.com)
    • Reduced Operating Cost by Switching from 55 Day A/P Average to 2-Day A/P (imputed at 2% of 40% of Receipts): $400/Month

Additional savings include subjective items that YOU MUST PLACE A VALUE UPON:

  • Fraud Risk. You are systemically eliminating vendor invoice fraud, embezzlement and fund diversion from the business. What is that worth to you? (the average fraud cost for companies making complaints to the FBI was imputed at $83,000+ in 2017).
  • Financial Reporting. Your financial and management reports are now going to be run automatically and distributed automatically to you, your investors and lender(s). What would the time saved on this task be worth to you and your business?
  • Capital Financing. You are seeking capital and your lender and/or investor(s) are going to be concerned about default risk management and your plan of action. What would it be worth to potentially increase your odds of success by choosing to be an iCREDIT customer?
  • Business Intelligence. You are being given a completely new financial risk assessment each month you are an iCREDIT customer to make you informed about pending market changes and opportunities. What is that worth to you?

If the savings add up to a winning idea for the smallest company we can serve, imagine what they could be on a CRE construction project or other developing B2B business with larger receipts. Contact us to get all the facts today. Additional terms and conditions apply.