Rates will vary on a number of factors, but in general Velocity invoice funding fees are 2.5% per 30 days. This is cheaper for Express clients who follow a typical weekly repayment schedule (0.5% per week interest for 12 weeks). For example: On a 30 day invoice, you can save 3.5% with Velocity.

As always, the total cost of funding is clearly communicated before any funds are advanced. In the event of delinquency, we may charge additional fees. Clients should refer to their funding agreement for more information.

Sometimes customers don’t pay on time. As long as there’s a clear expected pay date, FundThrough will wait for your customer to pay. If the invoice remains unpaid for an extended period, FundThrough may ask you to substitute another invoice for the value of the missing payment or pay the outstanding balance.

FundThrough contacts your customer for the initial setup, and to confirm any invoices you wish to fund – that’s it. In the event of late payment, we work with you first to resolve any issues before contacting your customer. Learn more about how we preserve your reputation when working with your customers. 

A lot more businesses factor than you think, and there are a lot of reasons people use factoring that don’t involve cash flow problems. Companies also use factoring to fund new business ventures or contracts, hire talent, invest in new equipment, and more. The fact is that many large companies are used to working with suppliers who use invoice factoring solutions, and have entire departments set up to handle these payments.