Upgrade Your Advances
Add flexibility to your advance offering, while reducing costs.
In this example, we'll discuss a book royalties advance company called Bookworm. Historically, Bookworm has used wire transfers to fund its advances, but they're looking to add more flexibility to their offering.
1. Bookworm creates an Enterprise in the Nerve dashboard. Nerve assigns Bookworm an account at our bank partner. Bookworm is able to fund their account via wire or ACH.
Nerve Enterprise Dashboard
Nerve Enterprise Dashboard
2. Bookworm adds a Nerve payment option to their web app. Bookworm links to or embeds Connect so their authors can open a Nerve account, or link to their existing bank via ACH.
Tape Daddy's creator web app
Nerve Connect
3. Bookworm issues advances to their artists using the Nerve API. Because of Nerve's capped pricing for instant transfers, Bookworm is able to offer their authors with Nerve accounts a new weekly payout option.
Tape Daddy's Funds Flow
Nerve Enterprise Dashboard
By adding a flexible advance option to their platform, Bookworm:
- Helped its authors find free business banking tailored for creators.
- Created a more flexible option for authors that eases their cashflow.
- Reduced its advance costs — even for artists who still choose to use ACH.
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Last modified 1yr ago