The Employee Retention Credit (ERC) has been a lifeline for many businesses during these challenging times. It’s designed to encourage businesses to keep their employees on payroll during the COVID pandemic, even when operations have been impacted due to COVID-19. However, navigating the waiting period and understanding the role of advance payments of an ERC credit can be quite complex. In this comprehensive guide, we will provide insights on how to navigate this process, and how services like Finance ERC can help you get your ERC loan paid upfront.

What is the Employee Retention Credit (ERC)?

The Employee Retention Credit is a tax credit that can be received in the form of a check from the IRS against certain employment taxes. The purpose of the ERC is to reward employers who kept their employees on payroll during the COVID pandemic by offering a credit against the employer’s share of payroll taxes. The amount of ERC an employer can receive is based on the wages paid to the employee during the period of eligibility.

The Waiting Period

After filing your claim for the ERC, there is typically a waiting period before the IRS processes the claim and issues the credit. This waiting period can vary greatly from a few months to over a year depending on several factors, including the volume of claims the IRS is processing and whether there are any issues or questions regarding your claim. The IRS announced on September 14, 2023 that they would be not accepting new ERC claims until 2024 and slowing down existing claims.

While it is understandable that there might be a delay in processing due to the sheer volume of claims, it can create cash flow issues for businesses that are counting on these funds. This is where advance payments come into the picture.

The Role of Advance Payments Against The Employee Retention Credit

Advance payments are basically a way for businesses to get access to their ERC funds before the IRS has finished processing their claim. This can be crucial for businesses that are struggling with cash flow and need the funds as soon as possible.

However, obtaining an ERC advance payment is not always straightforward. There are specific criteria that a business must meet in order to be eligible for an advance payment. Furthermore, the process of applying for an advance payment can be quite complex and requires a detailed understanding of the rules and regulations surrounding the ERC.

How Can Finance ERC Help?

This is where Finance ERC comes into play. Finance ERC is a company that specializes in helping businesses receive their ERC money today rather than waiting a few months to over a year for their ERC checks to arrive from the IRS.s. 

Best of all, when Finance ERC purchases your ERC today giving you access immediately to your ERC funds, there is no additional cash flow strain on your business from repayment.  There are no cash repayments in Finance ERC’s refinancing program as repayment is made by the ERC seller when the checks arrive from the IRS down the road.  

In other words, Finance ERC takes on cash flow wait, so you don’t have to. This can be a game-changer for businesses that are struggling with cash flow issues and need access to their ERC funds as soon as possible.


Navigating the Employee Retention Credit waiting period and understanding the role of advance ERC payments can be challenging. But with the right guidance and support, it doesn’t have to be. Services like Finance ERC can help businesses navigate this process and get their ERC monies due from the IRSupfront, easing cash flow issues and helping businesses obtain liquidity during this challenging economic environment.