With Lightspeed Capital, you may become eligible to receive additional funding, before your current advance is paid off.
Additional funding allows you the flexibility to quickly access more funds. If an additional funding offer is accepted and approved, your previous Lightspeed Capital advance will be settled, with the outstanding balance transferred to your new advance, and the additional funds deposited to your account. The fee on your new advance will be calculated based on the additional funding and the outstanding balance transferred.
Just like when receiving a new offer, there is no deadline to pay and no interest -- only a flat fee that gets paid back at the speed of your business. Once you’ve been approved and accepted an offer, you’ll typically see the funds in your bank account within one to two business days.
Applying for additional funding
Lightspeed merchants using Lightspeed Capital are automatically reviewed for eligibility. The criteria for eligibility are based on several factors, including your transaction volume and current Lightspeed Capital balance.
If your business qualifies for an offer, you can find details about the offer in the Financial Services tab of your Lightspeed account.
Accepting an offer for additional funding
To accept an offer for additional funding:
- Navigate to Financial Services > Capital.
- Choose your offer by selecting the amount of the advance via the slider.
- Click Continue.
- Review your offer information and business details, then click Submit to complete your application.
Once your application has been reviewed, you can expect to receive your additional funds in one to two business days.
Viewing additional funding statements
You can review your repayment progress on all your advances by navigating to Financial Services > Capital in your Lightspeed account.
Once an offer for additional funding has been accepted, your existing Lightspeed Capital advance will be transferred to your new advance. You can view the details of your previous advance by clicking on that specific advance, allowing you to see your past payments and balance information.
To see your new Lightspeed Capital advance, click on the relevant advance, labeled as In progress. From here, you can view your repayment history, the transferred balance of your previous advance, and the new total to repay.