When funding an invoice, your account will be set to pay back the advance in 12 equal weekly instalments. Each payment will include a portion of the principal amount as well as a small funding fee. The weekly funding fee is calculated at 0.5% of the face value of the invoice. The repayments are done through automatic withdrawals from your bank account every Wednesday.
You fund an invoice with a total face value of $1200.
For the next 12 weeks you will repay $100 + $6 (0.5%) Weekly fee.
FundThrough will always display the full cost breakdown for any funding request for you before you fund so that you have full visibility of the costs. You also have the option to pay your advance back early and save on weekly fees.
Given the example above if you decide to pay off the advance in full after 5 weeks you will have paid a total of $1200 (principal) + $30 (5*$6) Weekly fees. You saved $42 !
Looking for more funding than what Express offers? Check out the “Can I fund amounts over $30,000?” article.