Why was my invoice declined or not approved?

Why wasn't my invoice approved for funding?

An invoice may not be approved for funding if it triggers one of Fundtap's eligibility rules — such as an overdue balance, an exceeded facility limit, or an invoice that does not meet minimum requirements. The ten most common reasons are listed below.

1. Overdue balance — you have an existing overdue amount that needs to be cleared first. To see an up-to-date amount of what you have owing today, from your My Invoices dashboard select the Funded tab, then Due Now.
2. Facility limit exceeded — funding this invoice (or a portion of it) would push your total funded amount over your credit limit. To resolve this, wait for existing funded invoices to be repaid, or contact info@fundtap.co to discuss increasing your facility limit.
3. Due date too far out — Fundtap does not fund invoices with a due date more than 60 days away, however you can apply for an exemption by emailing info@fundtap.co
4. Below minimum size — Fundtap does not fund invoices under $300.
5. Voided or deleted — the invoice has been voided or deleted in your accounting software after submission
6. Duplicate invoice - the invoice submitted is a duplicate of one that has already been funded
7. Conditional invoices — Fundtap advances funds against an existing receivable. Invoices must be issued for work already completed where payment in full is guaranteed.
8. Related parties — FundTap cannot fund invoices raised to related parties, such as companies owned by the same directors or shareholders.
9. Updated documents required — your account needs updated documentation. Contact info@fundtap.co to find out what is required. 
10. Credit requirements — your account does not currently meet our credit requirements. Email info@fundtap.co for more information. 

If you are not sure why a specific invoice was declined, contact us and we will help you resolve it.