Customers who purchase with Fundbox will get free net terms. Most vendors offer net-60. Customers will not need to pay anything until net terms end.
There is no fee for purchasing with net terms — the amount due at the end of the net terms is exactly the same as the amount of the original purchase. Vendors pay an interchange fee to accept payment with Fundbox.
After net terms end, in most U.S. states, extended terms will begin. The extended terms are 52 equal weekly payments which include a weekly principal amount and a flat weekly fee. Customers can pay the outstanding balance in full anytime and we will waive all remaining fees.
In states where extended terms are not available, the entire amount of the original purchase will be debited when net terms end.