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We know you probably have questions about FundThrough, and the FAB Partnership Program in particular. That’s why we’ve put together a list of the 10 most common questions we get, to help our Financial Managers, Accountants and Bookkeepers get the most out of our Partnership Program.
What Is the FAB Partnerships Program?
FundThrough’s FAB Partner Program is a way for you to start, continue, or expand your journey into offering advisory services and tapping into revenue. We provide a clear place to start, and the resources to help your small business clients take control over when they get paid.
How Does FundThrough Add Value to My Accounting Advisory Tech Stack?
There is a huge need for cash flow advisory services! In fact, 85% of SMBs are invoicing large companies who set the payment terms, leaving them to accept a high value customer and either:
- Have their funds tied up in AR for the next 30 days (or more)
- Forgo working with them (a decision many SMBs can’t afford to take)
By showing them ways to unlock funds they’ve already earned, you look like a cash flow hero!
Additionally, clients see you as someone who has the knowledge and experience to help them make the right decisions when it comes to their business. Becoming an advisory professional in your space is more important and valuable than ever.
Offering Advisory Services to Your Clients:
- Distinguishes you from other firms
- Allows you to provide more value to your clients
Which, In Return:
- Helps you to justify raising your prices
- Increases the number of clients you can attract and keep
How Does My Client Sign Up?
Get your client to sign up using your FAB referral link and one of our expert onboarding representatives will take care of the rest! It’s really that easy. Our team will work closely with your clients to guide them through the funding process and ensure that their businesses are well-equipped to address the unique challenges that will arise as they grow.
How Long Does it Take to Get Set Up?
Creating a free FundThrough account takes just a few minutes. We’ll request a few documents to confirm business information. After that, we’ll review your client’s application and make a decision as soon as possible.
What Promotions Can My Clients Access Via the Partnership?
As a perk for your clients, FundThrough offers a 75% discount on QuickBooks Online for the first 3 months, and will reimburse the funding fees on their first funded invoice (invoice value up to $50K.)
Are There Any Bonuses for FAB Partners?
As a bonus for our fabulous FAB Partners, we offer a generous referral fee for each client you refer to us and we fund.
What Happens if My Client’s Customer Doesn’t Pay?
Sometimes customers don’t pay on time. As long as there’s a clear expected pay date, FundThrough will wait for their customer to pay. If the invoice remains unpaid for an extended period, FundThrough may ask them to substitute another invoice for the value of the missing payment or pay the outstanding balance.
We know that the relationship between a business and its clients is one of the most important aspects of running a business. FundThrough’s team will make sure to work with your clients and their customers to find a solution while maintaining all sides of the relationship.
How Do You Work With QBO?
FundThrough is fully integrated with QuickBooks Online (and other popular accounting and invoicing apps) to help save time during setup. Our integration allows us to automatically pull invoices within QBO that are eligible for funding onto your FundThrough dashboard. If you’re not a QuickBooks user or your software isn’t supported, don’t worry – you can manually upload invoices onto the platform.
What Are Your Fees?
Opening and keeping an account doesn’t cost a thing! We don’t charge annual fees and there’s never an obligation to advance invoices. Rates will vary on a number of factors, but in general our invoice funding fee is about 2.5% per 30 days.
The total cost of funding is clearly communicated before any funds are advanced. In the event of delinquency, we may charge additional fees. Clients should refer to their funding agreement for more information.
Do You Lock My Client Into a Contract?
Absolutely not! There’s no long-term contract to use FundThrough’s services. We have clients who fund all their invoices for a reliable cash flow solution, while others simply enjoy having FundThrough in their back pocket, ready for a rainy day cash flow gap.
You also don’t have to fund all your receivables. Simply pick and choose the invoices you want to fund, when you want to fund them. Once the invoice is paid to FundThrough, there’s no further obligation.
Become a FAB Partner
Want to learn more about our partnership program or become a FAB partner? Contact our partner team today!