Vendor Payment Program
The Vendor Payment Program is a simple process and takes just a couple minutes to sign up.
Enter basic company information. Once registered, we will work with you and the State to help get your eligible receivables.
Our systems will alert you when invoices are ready to assign, and will guide you through the assignment process.
VAP will advance 90% of your invoice value, paying the remaining 10% upon final state payment.
Partner of the State of Illinois' Vendor Payment Program
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 and Affiliates currently have offices in Chicago, Philadelphia, Orlando and San Juan, Puerto Rico.
- VAP has financed over $3.5 billion in accounts receivable with $2.5 billion repaid to date.
- VAP has worked with over 1,000 businesses to aid in expediting State payments through the program.
- VAP and its principals have managed in excess of $9 billion with over 100,000 individual transactions.
What is the Vendor Payment Program (VPP)? The Vendor Payment Program or “VPP” is a State program started in December of 2012. The voluntary program is designed to expedite the time frame of payments to State vendors and service providers. Participation is simple, secure, and vendors receive 100% value of their receivables free of cost.[…]
VAP FOUNDER DONATES $25,000 TO WOLCOTT SCHOOL SCHOLARSHIP FUND Chicago, IL, May 4, 2018– VAP Founder, Brian Hynes, donated 25K towards the Wolcott School Scholarship Fund, a Chicago high school focused on the special needs of students with learning differences. Wolcott School serves over 120 students as it grows to its capacity of 150, all[…]
Contact Sol Solis VAP FOUNDER DONATES $25,000 TO DACA STUDENTS AT BENITO JUAREZ COMMUNITY ACADEMY. Chicago, IL, September 15, 2017– VAP Founder, Brian Hynes, donated $25,000 to assist Dreamers applying for their Deferred Action for Childhood Arrivals (DACA) status. Hynes joined 25th Ward Alderman, Daniel Solis, to jointly contribute $30,000 to the Resurrection Project to[…]
HYNES FAMILY SCHOLARSHIP PLEDGED $600,000 TO ST. LAURENCE HIGH SCHOOL Burbank, IL, June 16, 2017– VAP Founder, Brian Hynes and his mother, Kathy Hynes, pledged $600,000 to create the Hynes Family Scholarship Fund for tuition to students attending St. Laurence High School. St. Laurence is a Catholic college preparatory high school rooted in the Essential[…]
“Vendors doing business with the state can turn to “qualified purchasers” for money when Illinois does not pay.” “When the state of Illinois spends money it does not have, who makes up the difference?” News-Gazette.com News-Gazette.com http://www.news-gazette.com/opinion/editorials/2016-12-01/operating-borrowed-m…
“The one-of-its-kind, bill-payment program seeks to avert the nightmare scenario for a state in the worst financial shape in the country: a shutdown of essential services such as employee health insurance, a disruption of prison food supplies or mothballing of state trooper cars in need of fuel and maintenance.” Reuters Dave McKinney – Karen Pierog[…]
VAP FOUNDER HOSTS DWAYNE WADE AND WADE’S WORLD FOUNDATION AT HIS CHICAGO HOME. Chicago, IL, November 3, 2015– Yesterday VAP Founder, Brian Hynes, and NBA super-star, Dwayne Wade, hosted a private fundraiser for Wade’s World Foundation (WWF) at Hynes’ Chicago residence. This event raised over $15,000 for the local non-for-profit. WWF provides support to community-based[…]
VAP FOUNDER DONATES $50,000 TO NOAH’S ARC FOUNDATION. Chicago, IL, July 29, 2014– VAP Founder, Brian Hynes, donated $50,000 to Noah’s Arc Foundation, a non-for-profit founded by former Chicago Bulls player, Joakim Noah and certified art therapist, Cecilia Rodhe. This Chicago-based foundation prides itself in providing diverse opportunities for kids to become more aware and[…]
“I had heard about this (Vendor Payment Program), and I’m very leery because I don’t want to give up a penny. I think, ‘What is this going to cost me?’” Martin said. “I checked into it and met with the people and really it didn’t cost me anything.” Before trying the Vendor Payment Program, Martin[…]