How to Solve Small Business Invoicing and Cash Flow Issues
Insight Having money tied up in accounts receivable can put the brakes on your small business., but invoice factoring from FundThrough is here to help!
Angie Hayden, CEO at Woodland Enterprises, had a cash flow timing issue. Her pipeline utility business often relied on subcontractors, and Angie prioritized paying them on time, which sometimes meant doing so before customers paid her invoices. As a result, a significant amount of capital was tied up in the company’s accounts receivable.
FundThrough's uniquely flexible model puts business owners in complete control over when they get paid.
Angie chose to factor her invoices, a process in which a business sells their accounts receivable to a third party. She chose FundThrough, a technology-enabled invoice funding platform that offers small business owners immediate advances for their unpaid invoices.
With FundThrough, Angie quickly solved her cash flow problem. “Getting funded for the holidays was a huge relief, and all in all it was a 100 percent satisfactory experience,” she said. Payment wait time was reduced by an average of 86 days, giving Woodland Enterprises the working capital it needed to take on larger contracts.
Cutting-edge technology and customer-centric philosophies are essential to FundThrough’s exceptional client outcomes
Steven Uster, co-founder, and CEO of FundThrough, says that the key to FundThrough’s success is a combination of data-driven technology and a diverse, client-focused team — many of whom are entrepreneurs themselves.
“You can get unlimited access to capital simply by doing what you do best, which is selling,” says Uster. “Every time you sell, you issue an invoice and generate accounts receivable, which you can then fund so you can grow your business. All you’re doing is accelerating the time it takes for you to get paid by your customer.”
Quick and straightforward onboarding thanks to a tech-enabled platform
Part of what separates FundThrough from competitors is the agility of its platform. “We use technology to expedite the onboarding process, so our platform requires less upfront work and due diligence for the business owner, relative to our competition,” says Rebecca Weizenecker, Director of Sales & Client Success. In other words, the experience couldn’t be more distinct from the arduous process of getting a bank loan.
FundThrough customers can choose exactly which invoices to fund, when they want to fund them — all with no obligation and no annual fee. This uniquely flexible model puts business owners in complete control over when they get paid.
A commitment to diversity
FundThrough has over 20 languages between its team members, a 50 percent female leadership body, and 40 percent female staff across the board. Rebecca Weizenecker says that the company’s commitment to diversity and the advancement of women in FinTech is not about tokenism — on the contrary, it’s a major part of what makes FundThrough a leading industry player.
“There is a difference between tokenism and actual representation and inclusion. I’ve been one of the few females in an organization before, but when you’re in a company that actually has equal representation and real inclusion, it creates an environment where you can be comfortable being yourself and sharing ideas. That environment is essential for a high-growth startup and a strong, innovative team,” says Weizenecker.
Ultimately, it’s all about client success, says Uster. “We have a very flat organizational culture, as opposed to a bank where you’ve got layers and layers and no one person can make a decision. Everyone in our company is empowered to make the right decision to help our clients, at all levels.”