We offer two services, a revolving line of credit and net terms on business purchases. This article applies to the net terms service.
Before you confirm that you'd like to pay through Fundbox, for an invoice from your vendor, you'll be able to review your payment terms.
When you confirm invoice terms from your vendor or when your vendor accepts your request to send payment through Fundbox, your net terms begin.
You will not need to pay anything until net terms end.
What happens after net terms end?
Depending on the terms you applied for, your account might have extended financing. (If you're not sure whether you have extended financing, you can reach out at email@example.com.)
If you have extended financing, and payment is not made in full by the end of the net terms, weekly payments will begin automatically. Weekly payments carry a flat weekly fee.
To make sure that payment is debited in full at the end of net terms, before weekly payments begin, you can turn on autopay. Autopay can be turned on from your dashboard, or whenever you confirm a request for payment with Fundbox from a vendor. It can also be turned back off anytime before the payment is processed.
If you do not have extended financing, payment will be due in full at the end of net terms.