First-time funding follows five steps: submit the invoice, its invoice submission form, and its supporting paperwork, Charter Capital confirms the invoice with your customer, you receive your advance, your customer pays within their normal terms; and the residual is released to you once that payment clears.
The first funding takes a little longer as we work to get everything set up in our system and connect with your customer.
Step 1: Complete and Send the Invoice
Submit the invoice exactly as you would send it to your customer directly, with the correct invoice number, amount, and payment terms, along with Charter Capital’s invoice submission form. If you are submitting more than one invoice at once, this is referred to as a schedule of invoices. Your account manager will confirm the preferred submission method for your account during onboarding.
Step 2: Attach the Required Backup Documentation
Backup documentation confirms the work was completed or the goods were delivered, and it is the single biggest factor in how quickly your first invoice gets funded. Depending on your industry, this typically includes a signed delivery confirmation, a completed purchase order, or a signed acceptance from your customer. Submitting this alongside the invoice itself, rather than after, is what keeps the process moving.
It helps to think of backup documentation as answering one question for Charter Capital: can this invoice be independently confirmed without relying on your word alone. A clear, complete document that answers that question the first time avoids a follow-up request, which is one of the most common reasons a first submission takes longer than expected.
Step 3: Charter Capital Verifies the Invoice With Your Customer
Charter Capital contacts your customer to confirm the invoice amount and terms are accurate and that the work or delivery is acknowledged. Verification is a key step in the funding process and protects both you and your customer. It can take a little longer on the first funding since your customer has not gone through the process before. Letting your customer know in advance that this call or email is coming makes it go faster.
Step 4: You Receive Your Advance
Once verification is complete, Charter Capital advances a percentage of the invoice amount based on your agreement. Funds typically arrive within one to two business days of a clean submission.
Step 5: Charter Capital Collects Payment and Releases the Residual
Your customer pays Charter Capital directly on the invoice terms already in place. Once that payment is received in full, the remaining residual, the portion of the invoice value held back at the time of the advance, is released to you, less the factoring fee.
What Slows This Down
The most common reasons a first invoice takes longer to fund are incomplete backup documentation, a customer who is difficult to reach for verification, an invoice amount or terms that do not match what the customer expects, and account setup details still being finalized on a brand-new account. Nearly all of these are avoidable. Submitting complete documentation on the first attempt and giving your customer a heads-up about the verification step remove the two biggest delays entirely.
A less obvious delay comes from invoices submitted late in the day or right before a weekend or holiday, since verification depends on your customer being reachable. Submitting earlier in the business week, when possible, gives verification the best chance of wrapping up before the weekend rather than carrying over into the following one.
Tips for a Faster First Funding
Submit your invoice, its invoice submission form, and every piece of backup documentation together in a single submission rather than sending pieces separately as they become available. Confirm your customer’s contact information is current and let them know Charter Capital will be reaching out to verify the invoice. Double-check that the invoice amount and terms match exactly what your customer has agreed to, since any mismatch triggers a hold until it is resolved. After your first invoice is funded, subsequent submissions from the same customer move noticeably faster, since verification and account setup are already in place.
What to Expect During Onboarding, Before Your First Invoice
Before your first invoice ever reaches the funding stage, your account goes through the application process, a short setup where your account manager confirms your submission method, walks through the specific documentation your industry and customer base typically require, and sets your advance rate and factoring fee based on your agreement. Getting this groundwork right upfront is what makes the actual invoice submission process fast and repeatable going forward, rather than something you have to relearn each time.
What Happens After Your First Invoice Funds
Once your first invoice has gone through the full cycle- submission, verification, advance, and residual release- your account manager will typically walk through what worked well and what could be smoother next time. Many businesses find that the second and third submissions take a fraction of the time the first one did, simply because the customer relationship is already verified and the documentation pattern is established. From that point forward, submitting invoices becomes a routine part of how you get paid, not a process you have to think through step by step.
Questions to Ask Your Account Manager
If anything about your first submission is unclear, your account manager is the fastest way to resolve it. Useful questions include what backup documentation is expected for your specific industry, what advance rate and factoring fee apply to your agreement, how you will be notified once verification is complete, and what the typical turnaround time looks like for your customer base specifically. Getting clear answers to these before you submit your first invoice removes most of the uncertainty that tends to slow first-time funding down.
FAQs About How Do I Submit My First Invoice with Charter Capital
How long does it take to get funded on my first invoice?
Most first-time submissions fund within one to two business days once the invoice, invoice submission form, and customer verification are all complete, though the exact timing depends on how quickly your customer responds to verification and whether your documentation is complete on the first submission.
What documents do I need to submit with my first invoice?
You need the invoice itself, Charter Capital’s invoice submission form, and backup documentation confirming the work or delivery, such as a signed delivery confirmation, a completed purchase order, or a signed customer acceptance.
Why does Charter Capital contact my customer before funding my invoice?
Verification confirms the invoice amount and terms are accurate and that the work or delivery is acknowledged, which protects both you and your customer and is a standard part of the factoring process.
What percentage of my invoice do I receive as an advance?
Charter Capital advances a percentage of the invoice value, as specified in your agreement, directly to your account. This is usually around 90 percent, but can be as high as 98 percent.
Will every invoice after my first one take just as long to fund?
No, subsequent invoices from a verified customer typically fund faster than the first, since customer verification and account setup are already in place.
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