Fundbox offers access to capital either by purchasing your outstanding invoices and advancing you those funds or by establishing a business line of credit for you. If you are offered access to capital through Fundbox you will be presented with the appropriate legal agreement which communicates this information prior to your commitment.
When you access capital by selling us your invoices, you must clear those invoices to access your Fundbox Credit™. We purchase your invoice, advancing you 100% of the invoice value, and you collect on our behalf from the customer that you invoiced and remit the payments to us, along with our transaction fees.
When you access capital through a loan made on a business line of credit, those funds may be originated either by our partner, First Electronic Bank, or directly by Fundbox. First Electronic Bank is an FDIC-insured, state-chartered industrial bank headquartered in Utah. Note that your business line of credit will still require you to clear invoices through our web interface to access your Fundbox Credit™.