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, no monthly fee, and no penalty for repaying early.
| 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.
Repay early, pay less
Clear it at any time by paying what is outstanding. Interest stops that day — no penalty for repaying early, and no minimum amount of interest.
Questions the page does not answer live on the financing page FAQ.
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