Whole Ledger Funding

Lending Strategy operated by Credit Originator, Apxium.

Funding for accounting and law firms against their work-in-progress (WIP) and receivables ledgers, repaid as their clients pay. The facility revolves against both ledgers, subject to annual review; WIP funding is rebalanced monthly on 90-day rollover periods, and no invoice is funded beyond 120 days, after which the full amount is automatically charged back to the firm.

All invoice payments flow into the firm's Collections Bank Account and a daily cash sweep repays funded invoices; automated chargebacks apply if funding exceeds covenant levels; and if a chargeback cannot be met, all invoice collections are redirected to the Credit Originator under its Right of Offset until the debt is repaid. Security and recourse include: Guarantee and Indemnity, Partners' personal guarantees (exceptions apply), Equitable Assignment over the receivables and WIP ledgers, Right of Offset, Step-in Rights and the right to pursue the firm's client debtors directly.