Fundbox Launches New Payment & Credit Solution For Small Businesses Serving Other Businesses “Fundbox Pay”

Fundbox, a cash flow optimization tool platform for small businesses, announced last week it has launched a new payment and credit solution for small businesses serving other businesses called Fundbox Pay. The platform reported that it purposefully designed Fundbox Pay to help make business transactions between SMB2B buyers and sellers a dynamic, frictionless, and most important, a fast experience.

“If you sell products or services using Fundbox Pay, you will get paid once a buyer confirms the payment, funds arrive as soon as the next business day, similar to how business-to-consumer (B2C) merchants get paid at the point of sale. When you accept payment through Fundbox Pay, you no longer have to extend net terms or trade credit, and you won’t have to deal with chasing unpaid invoices in order to reconcile your accounts receivables. Instead, simply invite your customers to begin transacting with you on Fundbox Pay. Fundbox will take care of the rest by providing your approved customers with convenient, flexible financing and net terms.”

Fundbox also noted that if the user is a buyer approved for credit on Fundbox Pay, then they will have faster access to products or services with 60 days of interest-free financing right out of the gate. After those 60 days are up, they can select extended payment terms that work best for their business and cash flow. Buyers paying with Fundbox Pay can extend terms up to a year with a flat weekly fee.

“Our goal with this new product is simple: to make all your SMB2B business transactions as simple and as fast as purchasing a cup of coffee.Often the greatest challenge of running a small business is keeping cash flowing in order to operate or grow their businesses over time. The situation for smaller businesses is very difficult, with a lack of cash flow killing more than 50% of small businesses annually.”

Fundbox then went on to add:

“Fundbox Pay brings the B2C commerce experience to the SMB2B market to make transactions between small businesses as simple as buying a cup of coffee. And we think that’s pretty neat.”

 

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