Get an advance of up to $50,000 in just one day with this fully automated platform.
FundThrough takes the legwork out of invoice financing. Its fully automated platform is easy enough to use on your phone. And its website is simple to navigate, making it easy to understand what you’re getting into before you sign up. However, it’s still more expensive than your typical business term loan and comes with weekly repayments.
|Product Name||FundThrough Express Invoice Financing|
|Loan Term||Up to 3 months|
|Requirements||Considers your business’s invoicing and banking history|
- Considers your business’s invoicing and banking history
First, do I qualify?
FundThrough is in the process of reworking its eligibility requirements. However, it typically considers your business’s invoicing and banking history when you apply.
What makes FundThrough invoice financing unique?
FundThrough is one of the more user-friendly invoice financing options out there. By connecting with your business’s accounting software and bank account, it can process your application and transfer funds in as little as a day. And you can keep track of your account through its mobile app.
It’s also more up front about the cost than its competitors. FundTrough even offers a calculator you can use to get an estimate of how much your business might pay before you sign up. If the payment plan doesn’t work for you, it’s possible to come up with one that does by reaching out to the customer service team.
What is FundThrough invoice financing?
FundThrough Express Invoice Financing is an advance on unpaid invoices from other businesses or government agencies. It’s designed for businesses struggling with cash flow that need an extra boost.
It can advance up to 100% of the value of your company’s unpaid invoices that are less than 90 days old — from $500 to $50,000. Advances come with a 12-week term and a 0.5% fee on your balance per week. You can repay them as soon as your customers pay you — there’s no penalty for paying them off early.
FundThrough invoice factoring
With Pro Invoice Factoring, you can get an even larger advance by selling your unpaid invoices to FundThrough. This option allows you to get up to 100% of the value of your business’s unpaid invoices, no matter the amount. You can also get your funds as fast as the next day.
The downside is that FundThrough will collect payments directly from your customers, meaning they’ll be aware of your cashflow problems.
What are the benefits of FundThrough invoice financing?
From its transparent costs to its automated application, here are a few perks of FundThrough invoice financing:
- Mobile-friendly platform. You can sign up, manage your account and take out another advance by using the app.
- Transparent costs. Unlike most invoice financing companies, FundThrough’s pricing is easy to understand. It even has a calculator to help you determine exactly how much you’ll pay.
- 100% advances available. You can borrow the full amount that your customers owe you through this service.
- No contracts. Unlike other companies, you don’t have to commit to a minimum number of months of invoice financing when you sign up.
- Automated application. FundThrough can sync with your accounting software to analyze your eligible invoices and get you funding in just one business day.
What to watch out for
Consider these potential drawbacks before signing up for invoice financing with FundThrough:
- Weekly repayments. Unlike with standard business loans, repayments are due each week.
- Financing capped at $50,000. You might want to consider factoring or other options if your business needs a larger advance.
- Must connect your financial accounts. FundThrough connects with your business’s accounting software and bank account. This might make you more vulnerable to hacks — even with the additional security measures it uses on these transactions.