Rates, fees and terms
Everything financing costs, written out. These same numbers appear in your closing statement and your debit mandate before you sign anything — this is just the version you can read first.
The whole price list
Your interest rate is set by assessment: 12.99% to 17.99% annualized, and most approved businesses are written at the 14.99% standard. A longer trading history, real payment coverage, security and a personal guarantee are what earn the lower rungs — the rate is priced, not negotiated, and every business with the same facts gets the same rate.
Pick a length and the origination fee follows from it. It comes out of the advance rather than being billed to you, so nothing is due before you are funded. On top of it there is a $1.05 servicing fee on each weekly debit, taken with the payment. Nothing else: no application fee, no access fee and no monthly fee.
| Length | Origination fee | You receive | Weekly debit | Total you repay |
|---|---|---|---|---|
| One month | 0.99% · $247.50 | $24,752.50 | $6,296.16 × 4 | $25,184.64 |
| Three months | 2.99% · $747.50 | $24,252.50 | $2,123.63 × 12 | $25,483.56 |
| Six months | 5.99% · $1,497.50 | $23,502.50 | $1,080.67 × 24 | $25,936.08 |
| Twelve months | 9.99% · $2,497.50 | $22,502.50 | $559.50 × 48 | $26,856.00 |
The weekly debit is the note payment plus the $1.05 servicing fee, shown here at the 14.99% standard — a stronger file pays less, down to 12.99%. Interest is paid to the investors who funded you, not to Backers. A month means four weekly payments. Larger amounts work identically — the origination fee is still a percentage of the amount and the note payment scales with it, while the $1.05 stays $1.05.
Nothing to apply
No application fee and no access fee. No money leaves your account before you are funded, and if we decline you have paid nothing.
If a payment is returned
We contact you and re-present it, and there is a $15 returned-payment fee — charged no more than four times over the whole note, however many are returned. After that the consequences stop being financial: we can call the balance due and report the default.
The term is the price
The schedule is fixed and runs to the end of the term, so the length you pick is what decides the cost. One month carries a 0.99% origination fee; twelve carries 9.99%. Choose the shortest your weekly cash flow can carry.
Questions the page does not answer live on the financing page FAQ.
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