Qualified Purchaser
State of Illinois
Vendor Payment Program

Vendor Payment Program

The Vendor Payment Program is a simple process and takes just a couple minutes to sign up.
Register

Enter basic company information. Once registered, we will work with you and the State to help get your eligible receivables.

Sign Agreements

Our systems will alert you when invoices are ready to assign, and will guide you through the assignment process.

Get Paid

VAP will advance 90% of your invoice value, paying the remaining 10% upon final state payment.

About US

Partner of the State of Illinois' Vendor Payment Program
Accounts
Receivable
Financing

Vendor Assistance Program is a specialty finance company founded in Chicago in 2010. In partnership with the State of Illinois, VAP helped launch the Vendor Payment Program in 2012, and was the program’s first Qualified Purchaser. To date, VAP has financed $3.5 billion of Illinois receivables and has been repaid $2.5 billion by the State. In total, VAP Companies and its principals have financed $9 billion in deferred payments.

VAP currently has offices in Chicago, Philadelphia, Orlando and San Juan, Puerto Rico.

Receivables Funded

$3.5 billion

  • VAP has financed over $3.5 billion in accounts receivable with $2.5 billion repaid to date.
Vendors Assisted

1,000+

  • VAP has worked with over 1,000 businesses to aid in expediting State payments through the program.
Experience

$9 billion

  • VAP and its principals have managed in excess of $9 billion with over 100,000 individual transactions.

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