OpenInvoice has partnered with FundThrough to make it fast, streamlined and hassle free to turn your outstanding invoices into cash once your work is done. You can pick and choose which customers and what invoices you want to advance. There are no minimum requirements or long-term contracts forcing you to factor all of your invoices.
Getting set up is easy. Once you create a FundThrough account and authorize OpenInvoice as your accounting software, we’ll begin securely syncing your invoice data from OpenInvoice so we can provide you both a quote, and approve your individual invoices for funding.
This differs from traditional factoring in a number of ways; you will have one simple rate which is your all-inclusive cost. No additional interest costs or hidden fees. We will typically advance you 95-98% of your outstanding invoices that we can see in Workbench, as soon as your work is either in "Submitted", “Received”, or “Approved” state in Workbench – depending on who you're selling to. The remaining percentage is our fee, and there’s nothing more to it. We get paid by your customer when their terms are due, and that’s the end of the transaction. You get cash upfront when your work is done and can put it good use to grow your business!