Vendor Assistance Program (VAP) is a specialty finance company based in Chicago, founded in 2010, that partners with the State of Illinois to offer the Vendor Payment Program. As the program's first Qualified Purchaser, VAP has financed over $5.7 billion of Illinois receivables, aiding more than 1,000 businesses in expediting state payments.
With offices in Chicago, Philadelphia, Orlando, and San Juan, VAP and its affiliates have managed over $11 billion in deferred payments through more than 100,000 individual transactions. Through their simple registration process, VAP advances 90% of invoice value, with the remaining 10% paid upon final state payment.
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