FundThrough invoice financing review

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 $10,000,000. 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.

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FundThrough reviews and complaints

FundThrough only has a handful of reviews and complaints from customers. In addition to being rated on the Better Business Bureau (BBB) website and Trustpilot, it also scores a 4.8 out of 5 rating on the QuickBooks App Store based on 29 reviews. And over 130 customers gave 4.9 out of 5 stars on Google Reviews.

Customers are mainly pleased with how fast they were able to get their funds and how easy it was to apply. The one negative reviewer complained about the pricing — who FundThrough denies working with.

How do I sign up?

You can sign up by creating an account with FundThrough, either on its website or through the app.

Follow these steps to sign up online:

1. Go to the FundThrough website and click Create an account.
2. Fill out the required fields and create a password. Click Get paid faster with FundThrough.
3. Follow the directions to connect your accounting software.
4. Enter basic information about your company and check the box confirming it’s correct. Click Next.
5. Provide details about your company’s revenue and customers. Click Next.
6. Follow the directions to link your business’s bank account.
7. Follow the directions to set up direct deposit with your bank account.

If approved, you’ll typically receive the funds in your bank account the following business day.

What documents do I need to apply?

It depends on the amount of funding you need and your business’s financial history. There’s a chance you won’t need to provide any documents at all. But larger advances might require a personal guarantee.

I got FundThrough invoice financing. Now what?

It’s time to pay it back. FundThrough typically deducts repayments from your business’s bank account automatically each week, plus the 0.5% fee. However, you might want to make additional repayments to cut down on the cost — which you can do at no extra charge.

Need more funds after the 12 weeks are up? You can fund more invoices by logging into your account online or through the app. If you have any questions or concerns, reach out to customer service through the live-chat feature on its website or by calling 800-766-0460.

Bottom line

FundThrough could be a good option if your business just needs a few thousand dollars to optimize performance. And it’s especially helpful if you’re short on time — thanks to its hands-off application. But while it’s more transparent than many other invoice financing companies about costs, it’s still a relatively expensive product.

You can find out how it compares to other options with our guide to business loans.

Frequently asked questions