Finding the Right Funding for your Clients with Fundbox

Nov 3, 2020 | Featured App

Helping your clients to find funding can feel changeling for both you and your client. Clients are often asking me if I have a funding preference and where should they start looking for funding. Businesses need funds to operate, and with so many obstacles, lending can feel like a daunting task.

A typical funding conversation starts with, “what do you know about loans,” and “can you help me.” The way I usually answer these questions is by exploring their needs. Some examples are; What do you want to accomplish, what is your time frame, do you have an idea of how much you need.

Because accountants are analytical, we honestly are an excellent place for our clients to begin. We are also less scary than lenders. People often fear asking for money, and they are terrified of rejection.

So how can we help our clients? One simple place to begin is a good bookkeeping, which creates good financials. We also understand the time value of money and have empathy for our clients.

We also understand a good business cash flow needs to include:

    • Payroll obligation
    • Expansion
    • Marketing campaigns
    • Investing in R&D
    • Purchasing goods
    • Investing in new technologies
    • Reinvesting in your business in general

When cash is tight, where can businesses go to find funding?

There are several types of funding, for example:

    • Traditional term loans
    • Lines of Credit
    • Invoice Factoring
    • Trade Credit
    • Capital Leases
    • Merchant Cash Advance
    • Crowd Lending

Keeping the funding risk in mind is ideal. You must weigh-in factors like short-term versus long term, calculating the total cost of additional debt, building and evaluating cash flow forecasts, understanding compounding interest grows quickly, and late payments affect credit and future borrowing opportunities. By keeping in mind that the future is uncertain and preparing yourself



and your company with efficient guidelines, funding can be a less stressful task.

Fundbox joined us to share how they are helping businesses gain access to funds and reduce risk.

Leslie Olsen, Chief in Marketing Officer for Fundbox, walked us through the Fundbox journey and how they are serving the small business community.

What is Fundbox? 

  • Fundbox is a financial technology company dedicated to powering the small business economy with innovative payment and credit solutions.
  • Offering fast, easy access to business credit, equipped with the tools, resources, and customer experience small businesses deserve.

Their goal is to push the potential of a small business by offering superior financial dexterity.



With loans being so time-consuming, businesses often face a credit dilemma with banks; having a host of fees and frequently denied creates embarrassment and frustration for the client. One of the significant contrasts when businesses search for fintech for funding solutions, is that financial technology is used to improve and automate financial institutions’ delivery. Using Fintech for lending ensures the ability to have flexibility.



Fundbox has created a process for business funding by utilizing an integration with QuickBooks Online. QBO customers can sync their data directly to Fundbox for approval and funding. Each week an auto-draft pulls funds to repay the loan.

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To learn more about the show sponsor, follow the link to: Fundbox

Click here to view The Appy Hour with Fundbox episode.