Rather than being subject to the fixed monthly payments and interest rates of a loan, Lightspeed Capital offers you a simple, seamless process with repayments at the speed of your business and a single flat fee for each offer. Capital and the flexibility it provides can be make-or-break for a business, and this service is intended to make accessing that capital easier.Statements are emailed to the email address used on your application. You can view your repayment process on an advance by navigating to Financial Services > Capital within Lightspeed Retail.Īdditionally, you will receive a monthly statement showing your repayment progress including a breakdown of payments received and the total balance remaining. Checking your Lightspeed Capital statements Accounts are automatically reviewed for additional offers on a monthly basis and we will reach out to you via email if you qualify for any additional offers. Please note that repaying early does not guarantee subsequent financing offers. To do so, contact us to request a manual payment. If you would prefer to pay down even faster, you can arrange to make manual payments in addition to the withheld amounts. The more card sales you process, the faster you'll pay down your financing. This repayment process will begin automatically 1-2 business days after the funds have been deposited into your account. You process sales as normal, and after your daily processing batch has settled, Lightspeed will debit your account a percentage of that batch according to your repayment rate. The total card sales you process in a day will determine how quickly you pay back the advance. You’ll repay the amount owed automatically over time at the speed of your business. There is no deadline to pay down the advance and there is no accrued interest or late fees. Regardless of how long it takes you to pay down the total amount owed, you will never be charged more than the financing amount and the flat fee. Eleven percent of your daily transaction total would then be debited from your account until you've paid down the total amount owed of $34,200 (the $30,000 advanced plus the $4200 flat fee). If you accepted the example offer above, you would receive $30,000. Repayment rate, or the percentage of your daily card transactions that will be debited to pay down your financing.įor example, you may receive an offer that looks something like this:.Total amount owed, or the sum of the financing amount and the flat fee.Flat fee, or the fee you'll pay over time in exchange for the advance.Financing amount, or dollar amount that will be deposited into your bank account.If your business is eligible for Lightspeed Capital, you will be contacted via email with your personalized offer. If you have questions about your eligibility or the amount you are eligible for, please email us at Accepting an offer However, our eligibility requirements are frequently updated, so check back regularly if you’re interested in a cash advance for your business. If there are no offers presented on the Capital page of your account, your business is not currently eligible for funding.
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