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Lender
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

FundThrough

Finanso.Multilogin™

About lender

FundThrough is a Canadian funding platform designed to extend growth opportunities to businesses via its invoice financing program. The company was founded in 2014 to ensure small businesses always have access to enough working capital. FundThrough has already helped more than 5,000 small businesses.

FundThrough helps business owners navigate their cash flow challenges by accessing the working capital tied up in accounts receivable due to slow-paying customers. The company offers two options: Velocity Invoice Factoring and Express Invoice Factoring. These solutions have different requirements and conditions.

Features

One of the most significant features of FundThrough is that it assists Canadian businesses in paying their invoices via its two programs: Velocity Invoice Factoring and Express Invoice Factoring.

One of the features of the Velocity option is that it provides unlimited funding based on the size of the invoice and 100% advance rates, minus a single fee. The funding is completed within 24 hours. This alternative is designed for businesses that make credit sales with a value ranging from $15,000 to $10 million.

The second option would be helpful for businesses whose credit sales value ranges from $500 to $15,000. You pay this amount back in 12 weekly installments.

The difference between these two solutions lies in the repayment terms: Velocity Invoice Factoring suggests your customer pays directly to FundThrough. At the same time, Express Invoice Factoring implies your customer’s paying back to you, and you later refund to FundThrough.

Invoices must be less than 90 days old to be eligible for funding. Also, as FundThrough integrates with the most popular accounting and invoicing apps, it’s essential to automatically pull invoices that are eligible for financing onto the customer’s dashboard.

Pros and cons

It is worth analyzing FundThrough’s strong and weak sides.

Pros

  • FundThrough ensures Canadian businesses have sufficient cashflow;

  • The company provides two different invoice factoring options so that customers can choose the most suitable one;

  • The conditions and requirements are clear and straightforward;

  • Customers do not have to upload their invoices manually;

  • If customers don’t see a payment plan that suits the needs of their business, they can connect with the support team, who will help them to find a solution that fits their business.;

  • Creating a FundThrough account doesn’t affect clients’ credit scores;

  • FundThrough uses secure, bank-grade, 256-bit encryption to protect the data;

  • Usually, funding and approval don’t take more than 24 hours.

Cons

  • The loan must be repaid in weekly installments;

  • Not all invoices can be paid via the company.

The company provides services that would be helpful for small businesses. Also, they have two invoice factoring options so the customers can find the best solution. Moreover, they can help the customer create a personalized payment plan in some cases.

On the other hand, there are some disadvantages. For example, the company’s specialization is too narrow, and its services will not suit people who need a loan for equipment purchases. Also, some invoices can be denied.

Loan conditions

To take advantage of FundThrough’s services, business owners must register on the company's platform and download their invoices manually or connect to other services that download invoices automatically.

The company will need business formation documents (LLC certificates, Articles of Incorporation, or some other proof of business), a government-issued photo ID, a void check from your business checking account, and authorization to review your business’ tax history. Also, they may ask for some additional information to verify the company and your customers.

Velocity Invoice Factoring provides unlimited funding based on the size of the invoice and 100% advance rates. The fees work this way:

  • 1-30 days = 2.5%

  • 31-45 days = 3.75%

  • 46-60 days = 5%

  • 61 days and up = 7.5%

Express Invoice Factoring loan is repaid via withdrawals from your bank account. Typically, there are 12 weekly installments with a 0.5% weekly fee.

Methods of loan funding

After approval, the customer will receive the borrowed amount by direct deposit or electronic transfer.

FAQ

What is FundThrough?

FundThrough is a Canadian lending company specializing in financing businesses by paying their invoices. The company allows its customers to upload their invoices. They offer two solutions - Velocity Invoice Factoring and Express Invoice Factoring. The difference between these two solutions lies in repayment terms: Velocity Invoice Factor suggests your customer pays directly to FundThrough, and you later refund.

Who owns FundThrough?

Steven Uster is the CEO of FundThrough. The company is funded by more than a dozen investors: Northleaf Capital Partners, Intercap, ScaleUp Ventures, Klister Credit, etc.

How do you qualify for FundThrough?

To be approved by FundThrough, a customer must provide the company with such documents as business formation documents (LLC certificates, Articles of Incorporation, or some other proof of business); government-issued photo ID; void check from your business checking account; authorization to review your business’ tax history. Also, they may ask for some additional information to verify the business and the customers.  

How much can you borrow from FundThrough?

The borrowable amount depends on the invoice factoring option a customer chooses. According to alternative sources, the loan range is $500-$50,000.

Is it a legitimate company?

FundThrough is a legitimate company. It has an A+ accreditation from BBB.

Company documents

Privacy Policy
Terms and Conditions

Our Mission Is to Empower Small Businesses to Thrive

© FundThrough

Calculate loan payments in FundThrough

FundThrough calculator will allow you to calculate an approximate payment schedule for the loan

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What to pay attention to when applying for a loan from FundThrough

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes FundThrough from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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