We offer two services, a revolving line of credit and net terms on business purchases. This article applies to the net terms service.
If both you and your vendor have approved Fundbox accounts, you can make business purchases through Fundbox to get net terms, for purchases of at least $100, and up to your limit.
If a vendor sends you a request for payment through Fundbox for an invoice
1. The invoice will appear in your dashboard.
2. Click Review and Accept to review your payment terms for this invoice.
3. Accept or decline the payment request from your dashboard. If you accept the payment request, we will send funds from your Fundbox account to your vendor. You will not need to pay us anything until your net terms end.
Depending on your account, you might be able to initiate a payment to a vendor
1. If you see a “Send funds to vendor” link on your dashboard, you can click on it to initiate a payment.
2. You will be asked to fill in a few details like your vendor’s email address to make sure the funds are sent to the right account.
3. Your vendor can accept the payment from their dashboard. They can also decline payment. If they do nothing, the request may expire. If your vendor does not confirm within a few days, we recommend that you contact them directly.
They can expect to receive the funds within 2 business days. You will not need to pay us back until your net terms end.