As a young entrepreneur, what lessons about the financial management of a firm can you learn from
Question:
As a young entrepreneur, what lessons about the financial management of a firm can you learn from the actions taken by the three cofounders of Fundbox?
Fundbox is an entrepreneurial start-up that offers 12-
and 24-week loans to small businesses. The loans are tied to specific invoices that the businesses have outstanding. Payment for the loans (including principle, interest, and fees) is deducted from a company’s bank account in 12- or 24-equal amounts on a weekly basis.
Once the money for the invoice comes in, the loan can be paid in full. There is no penalty for early payment.
Fundbox was launched in 2012 by Yuval Ariav, Eyal Shinar, and Tomer Michael, who are technological innovators and financial professionals. The firm’s mission is to offer small businesses a common-sense approach to cash-flow management.
Step by Step Answer:
Entrepreneurship Successfully Launching New Ventures
ISBN: 9781292255330
6th Global Edition
Authors: R. Duane Ireland, Bruce R. Barringer