This Startup Bridges Cash Flow Gaps, One Invoice at a Time
Chasing down late payments from clients was par for the course for Martin Stevens. Diversified Technical Support, his IT company in Portage, Ind., regularly carried up to $5,000 in outstanding balances per year. That is, until Stevens signed up for Fundbox—a financial-technology company that doles out low-cost advances on invoices of $100 to $20,000.
Gone are his days of sending Net 7 invoices and praying for payment. Since late 2013, Stevens has used Fundbox to clear $22,000 in accounts. He finds that by extending payment terms to customers to 90 days and using Fundbox to pick up the slack, he gets paid faster and more often.
4th of July Subscription Sale - Unlock this subscriber exclusive article and more for 20% off today.
Access all Entrepreneur content with no ads, unlock discounts, and get exclusive advice only available to our subscribers. Plus, our magazine delivered straight to your door.
Get 20% off an annual subscription today. Just use code SAVE20 at checkout.
Entrepreneur Editors' Picks
A 115-Year-Old Startup? The Leaders of This Family Business Are Honoring the Past and Building for the Future.
Turn Your Managers Into Your Biggest Asset for Winning the Great Resignation
'It Was Like a Drug': How Dave's Hot Chicken Grew a Cult Following in an East Hollywood Parking Lot
This Goldman Sachs Alum Launched an App That's Helping Young People Manage Their Finances and Healthcare (And She's Raising Millions of Dollars to Do It)
One of America's Richest Women Took Zero Outside Investors. Here's How Aviator Nation Founder Paige Mycoskie Did It.
4 Expert-Backed Strategies for Improving Your Communication Skills
This Couple Escaped Arranged Marriages in Pakistan. Now They Run a $14 Million Brooklyn Shoe Brand.