The total sales you process in a day will determine how quickly you pay your Lightspeed Capital advance.

Once your sales day is done, your capital deduction is calculated using the holdback percentage outlined in your accepted offer.

For example, you may have accepted an offer that looks something like this:

• Financing amount: £30,000
• Flat fee: £4,200
• Total amount owed: £34,200
• Holdback rate: 11%

Eleven percent of your daily card sales will be deducted from your daily sales until you've paid the total amount owed of £34,200 (the £30,000 advance plus the £4,200 flat fee).

Regardless of how long it takes you to pay the total amount of your Lightspeed Capital advance, you will never be charged more than the financing amount and the flat fee. There is no deadline to pay the advance and there is no accrued interest or late fees.

How your Capital balance works

Your payment method is based on which credit card processor you use as well as your region. Payments will begin the day after the advance has been deposited to your account.

If you want to make additional payments towards your advance, contact capital@lightspeedhq.com.

Closing an existing advance early by making additional payments does not guarantee subsequent financing offers. Accounts are automatically reviewed for additional offers on a monthly basis. We will reach out to you if you qualify for any additional offers.

• How deductions work with Lightspeed Capital’s auto deduct feature

  • Lightspeed Capital's auto deduct feature with Lightspeed Payments is currently only available in select regions.

  With automatic deductions, a percentage of your daily sales is automatically deducted from your Lightspeed Payments settlement to pay your Capital advance.

  Once your sales day is done, your daily capital deduction is calculated based on the holdback percentage outlined in your accepted offer, then deducted from that day’s Lightspeed Payments settlement. You can be completely hands off knowing your Capital advance is being paid off, and focus on running your business.

  If Lightspeed is unable to deduct the amount from your payout, the payment will be withdrawn directly from the bank account shared with Lightspeed.

• How deductions work with direct debit

  If you’re using a third-party payment processor, are not in a region where auto deduct is available, or if Lightspeed encountered an issue with your auto deduct payment, payments are debited directly from your bank account.

  Once your sales day is done, your daily capital deduction is calculated using the holdback percentage outlined in your accepted offer, then debited from the bank account on file.

  Using the same bank account for your credit card deposits and Lightspeed Capital can prevent most issues with Capital deductions.

Keeping your Capital advance in good standing

If an automatic deduction cannot be withdrawn from your account, we’ll notify you through the Financial Services tab.

Typically, this is due to an issue with your bank account. Some of the most common reasons that a deductions cannot be collected are:

• Changes to the bank account on file: If you’ve recently updated your bank account for Lightspeed Payments, ensure it has also been updated for Lightspeed Capital.
• Issues with direct debit: You may have made changes to your bank account preventing us from collecting deductions. Contact your bank to make changes or contact us for more information.
• Insufficient funds: There may not be enough funds in your account to make your Lightspeed Capital deduction. Add funds to your account to resolve the issue.

If you have any questions about your account, contact us for more information.

Checking your Lightspeed Capital statements

View your advance details by navigating to Financial Services > Capital in the Lightspeed Restaurant Back Office.

Clicking on an advance will pull up its details, including the advance amount, the total amount outstanding, and what has been paid to date.

Pending transactions

Pending transactions are shown when Capital deductions are made using direct debit. If you are using auto deduct, you will not see a Pending Transactions section.

A Pending transaction is a transaction initiated by Lightspeed Capital that hasn’t been processed yet. These don’t count towards your outstanding balance. The balance will be updated once the transaction is processed. Pending transactions may take several days to process, depending on your bank.

Processed transactions

Processed transactions are completed transactions that have either been cleared or rejected. These count towards your outstanding balance.

There are several transaction types:

• Adjustment: An adjustment was made to your balance.
• Automatic deduction: Normal automatic deductions towards your outstanding balance.
• Chargeback: Funds were returned to your account due to a chargeback.
• Correction: A one-time correction by Lightspeed Capital.
• Credit: A discount/credit was applied towards your outstanding balance.
• One-time deductions: You made an additional payment towards your outstanding balance.
• Refund: A refund was issued to your account by Lightspeed Capital.

Failed transactions include the reason for the rejection:

• Bank account issue: There is an issue with your bank account information. Contact Support to correct your information.
• Insufficient funds in bank account: There were insufficient funds in your bank account when the transaction attempted to process. Make sure there are sufficient funds in your bank account to cover your scheduled payments.
• Rejected by bank: Your bank has blocked the payment due to a hold placed on your bank account. Contact your bank to inquire about the blocked transactions.
• Error: An unknown error occurred while collecting your payment. Contact Support for more information.

Exporting your Capital statement

To export your full statement of an advance, navigate to the advance details page from Financial Services > Capital in the Lightspeed Restaurant Back Office, then click Export. The statement will automatically download to your computer as a CSV.

This statement includes your processed transactions and remaining balance.