Your company sells a product or performs a service, and you get paid. That’s how it’s supposed to work. However, payment terms can vary widely depending on the client. With more companies introducing longer payment terms, businesses often have to wait 30, 60, even 90 days or more to get paid. That’s why Mtivity is excited to announce our partnership with Fundbox, an on-demand service designed to help companies get paid in advance on their invoices.
Here’s how it works:
- Create an account and connect your accounting system. There is no paperwork or credit check required.
- Select an invoice to get paid in advance.
- See the full invoice amount in your account the next business day.
That’s it! No more waiting to collect the money you’re owed.
It’s easy to get started, but here are some answers to common questions:
Does it work with my accounting system? Fundbox integrates with popular accounting software such as QuickBooks Online, Harvest, Freshbooks, Xero, Wave, Clio and InvoiceASAP and Sage One.
Is it secure? The Fundbox servers are housed in a bank-grade facility, and all interactions are protected with state-of-the-art data encryption and transfer protocols.
How much does it cost? You only pay for what you use. Your account will be debited weekly 1/12th of the principal amount + 1/12th of the total fee for 12 weeks. The weekly fee is approximately 0.6% of the invoice total.
Can I repay early? There is no penalty for early repayment. You can repay early at any time and all remaining fees will be waived.
Who can use it? To use the service, you must be a business based in the United States with a US bank account and have at least 6 months of invoicing history.