Please read the following list of terms and the explanations of them:
Advance Amount:
This is the funded amount you would receive in your bank account.
Fixed Fee:
This is the extra that is applied to he Advance Amount, which when added together makes the total you will need to repay.
Amount Due:
This is the total amount to repay. It is the Advance Amount and the Fixed Fee added together.
Repayment Percentage:
This is the percentage that we will be deducting from your sales until the Amount Due has been repaid in full. This method of repayment may not be applicable to your contract, see this Help Centre entry for information on this.
Minimum Repayment:
The minimum amount you must pay us on a weekly basis, which goes towards
repaying the Amount Due. If you go below the minimum for one week then it would not be a concern, however consistent or non-consecutive repeated weeks below the minimum may result in internal action to get the account back on track.
Expected Repayment Amount:
The amount we reasonably expect to be paid from your sales to the YouLend funding each week. It is calculated based on information you have given about your past business performance.
If your repayment method is fixed Direct Debit or we have lost the Open Banking connection then this figure will be the amount your Direct Debit will be. For more information check the Direct Debit Frequency section below or this Help Centre entry
Payment Processors:
This refers to the companies or institutions that facilitate payment transactions (for example sales) and process them on your behalf. Importantly, when a company is present in the next column, then they will be taken into account for the particular funding whose contract you are reviewing. As an example, when a particular company is specified then we will be using a percentage of the sales made to pay back this contract's funding (if applicable).
Direct Debit Frequency:
This will be either weekly or daily, depending on the type and size of the funding. How this is charged and calculated is explained here.
Please note this information applies to the UK and Ireland YouLend contracts and may not be applicable to your contract outside of these countries. If you need further explanation or you need help with a term that is missing then please contact us instead.