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What happens when I am fully repaid?

Updated over 6 months ago

When you are fully repaid we would automatically not take anymore payments, and in most circumstances you would be eligible for more funding also. If you wish to apply again you can most likely do so via your Dashboard, if you have another funding after the one that was repaid this would effect your eligibility.

In the event you need further assistance, then please select your repayment method below for more information.

You receive my sales and take a percentage

Please note payments do not automatically revert back to your business bank account after you have repaid your loan. We would receive the money and send the full amount back to you.

If you would like to receive the payments directly from your processor, all you need to do is contact them and ask them to change their pay out details back to your business bank account. The reason why the request needs to come from yourself is because we are unable to make changes to your account with the payment processor.

We do in the suggest leaving it as is if you wanted to get further funding however, as this would make the renewal process much quicker.

I pay using Direct Debit

The Direct Debit should stop when fully repaid, if not then you can cancel it. In the event of any overpayment, then the overpayment will be sent back to the source the same day we receive the payment.

My payment processor/platform sends YouLend the percentage payment

You would not be required to do anything, we and our partner (such as Stripe or eBay) will ensure no more payments are taken.

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