New IFP web portal speeds up payments to State of Illinois vendors

CHAMPAIGN, Ill., Feb. 20, 2018 /PRNewswire/ -- If you're a vendor of goods and services for the State of Illinois, getting paid just got easier.

Illinois Financing Partners (IFP), the premier Qualified Purchaser of Illinois receivables under the State's Vendor Payment Program and Vendor Support Initiative, has launched the Illinois Financing Partners web portal. Developed by Chicago-based Solved Systems, Inc., the portal (www.illinoisfp.com) provides vendors a simple, streamlined process to sign up, assign and monitor eligible State of Illinois receivables, and receive 100% payment.

"We want to make engaging with IFP as easy as possible," said Andrew Greta, IFP Services president. "Introducing the portal was the natural next step in our commitment to strengthening and expanding Illinois businesses."

Since May 2015, IFP has purchased nearly $1 billion of invoices from vendors who provide goods and services to the State of Illinois. By stepping in to pay the State's backlog of unpaid bills so vendors don't have to wait to get paid, IFP helps power the economy and expand businesses by providing them with immediate cash flow, clearing their balance sheets, and improving their credit standing.

IFP prides itself as a knowledgeable, trustworthy team dedicated to seeing both innovative businesses, and the State, succeed. The firm's deep expertise in Illinois public service and the private sector has allowed for direct experience in funding the State's receivables to help address its backlog of unpaid bills.

Formed in 2013, IFP consists of Illinois business owners, seasoned finance professionals, and political leaders, including former Governor Jim Edgar and Congressman Jerry Costello.

To learn more, contact Andrew Greta, president of IFP Services, at 217-239-1694 or [email protected].

SOURCE Illinois Financing Partners

Related Links

http://www.illinoisfp.com