Renewals: how paying one down can get you more
Your repayment history is one of the most valuable things you bring to a funder. Here's how renewals work and how to use your track record.
What a renewal is
A renewal is a new advance offered after you've paid down a good part of your current one. The new advance pays off the remaining balance of the old one, and you receive the difference.
When you can renew
Many funders consider a renewal once a meaningful share of the current advance is paid, often around half, though every funder sets its own rules. On-time payments and ongoing deposits are what they look for.
Why your track record matters
A funder that has watched you pay on time has proof you follow through. That's why renewals are often larger, and sometimes come with better terms, than first advances. The same goes for a history with other funders: if you've paid off an advance or a loan before, tell us on the application so funders see it.
Be smart about it
Renew because it helps your business, not just because it's offered. Compare the new total payback against what you still owe, and make sure the new payments fit your cash flow. We'll lay out every number side by side.
General information only, not financial or legal advice. Every funder sets its own terms; your offer shows the exact numbers before you sign.