If you are a small business that hasn't renovated in years, Vagaro Capital can help provide funding to remodel your space to look brand new.
Vagaro Capital isn't limited to just small businesses, though. Vagaro Capital is a flexible funding solution that can provide your business between $500 - $300,000 based on your credit card processing volume. The application process is quick, and most customers get their funding within two business days*.
If you've been processing credit cards with Vagaro for at least four months, you could qualify for a cash advance tailored to your business. Once eligible, you can select a payment rate that suits your needs. You're not obligated to take the full eligible amount; only take what you need. You won't deal with interest, just a transparent, predetermined fee. When you get funding from Vagaro Capital, there’s no mounting debt, even if it takes you longer to pay. Once you get your funds, a percentage of your daily card sales goes towards payments. So, when business is slow, you make smaller payments.
*In June 2023, the percentage of approved customers funded in 48 business hours was 75%.
This feature is available for all Canadian, US, and UK businesses and their employees signed up for Vagaro Credit Card Processing.
To qualify for Vagaro Capital:
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You must be actively processing credit cards for at least four months.
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You must have $1,000 in gross monthly sales from credit card transactions.
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You must accrue ten or more monthly credit card transactions.
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You must provide three months of bank statements when receiving funding over $60,000. After submitting your application, our Vagaro Capital team will contact you with information on how to submit your bank statements.
The cash advance you are eligible for depends on your average processing volume.
Note
You must unfreeze your credit report for at least 72 hours before applying for Vagaro Capital.
The Vagaro Capital application is easy to fill out. Just follow these steps,
Businesses eligible for a cash advance will receive a notification with information about their offer in their Vagaro Notification Panel .
If you do not see a Vagaro Capital notification, please see Vagaro Capital Requirements for more information.
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Eligible for Vagaro Capital. Accept your offer. |
You'll need to enter some information about your business to get started with your application.
To enter the owner's details and funding reason:
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Under Are You the Owner?, choose Yes or No.
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Expand the Select Reason for Funding list and select the reason you need these funds.
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Review your Merchant Account information, which is automatically entered into your Vagaro Capital application. If the details are not correct:
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Select the
button to Edit or Delete the owner's details.
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Select + Add Owner to add another owner to your application.
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Select the checkbox at the bottom of the screen to confirm that all the details are correct and allow Liberis to email you marketing material.
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Select Continue to go to the next step.
After entering your owner information, you can customize your funding and payment speed.
To customize your offer:
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Under Choose Your Funding Amount, adjust your Advance Amount according to your business's needs.
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Choose a payment speed (Quick, Medium, Extended). Payment speed determines the percentage of your daily card sales going toward Vagaro Capital payments. Payment speed will also affect the Fixed Fee.
For example, choosing a Quick speed allows you to pay off your balance over a shorter period of time.
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Select Continue to move to the next step.
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A confirmation popup will display. If you are finished with customizing your funding, select Continue with Application. Keep in mind you will not be able to make any changes to your funding if you continue.
Note
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When filling out your Vagaro Capital application, you agree upon the Fixed Fee that is included in the Total.
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The system determines your Fixed Fee from the Advance Amount and Payment Speed you select.
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The Total includes both the Advance Amount and the Fixed Fee. You make payments toward the Total balance every business day.
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Read and sign the agreement to apply for Vagaro Capital. You must read through and agree with the entire document and then select the Sign button.
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Owners holding 25% ownership or more must also sign a Performance Guarantee to obtain funding.
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The states of California, Utah, and Virginia require businesses to sign a Disclosure Form to receive funding.
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All businesses must sign the Business Revenue Agreement.
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Optionally, select Download to download a copy of your contracts before submitting your application.
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Select Submit Application.
You are now one step closer to receiving your cash advance from Vagaro Capital.
Once your Vagaro Capital application has been submitted, your business partners (25% or more ownership) will receive an email with the Performance Guarantee. All owners must sign the Performance Guarantee to receive funding.
It will take two business days* to complete the review process and receive your cash advance. When you're approved, Vagaro Capital deposits your funds into the bank account used for credit card processing. You will receive a notification in your Notification Panel when you receive your funds.
You can also view your application status on the Vagaro Capital Settings page:
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On the Phone: Go to → → .
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On Web, Tablet, and Pay Desk: Go to → .
Changing your bank account after receiving funding with Vagaro Capital is not recommended.
While unlikely, you are not guaranteed the cash advance that you apply for. You may be denied funding or receive a lower amount than requested based on your credit profile and processing volume.
*In June 2023, the percentage of approved customers funded in 48 business hours was 75%.
After you receive your cash advance, Vagaro Capital automatically withdraws daily payments (split payments) from your daily credit/debit card transactions, similar to Vagaro's credit card processing fees. Vagaro Capital calculates the payment based on a percentage of your gross daily credit card sales over the workday, which means that payments may fluctuate depending on your daily earnings.
Note
Note that Vagaro Capital's payment schedule mirrors our current Batch Schedule.
The system calculates Vagaro Capital payments based on your daily income before deducting Vagaro's credit card fees.
After paying 50 to 100% of your Vagaro Capital funding, you may be eligible for renewed funding. When eligible, you will receive the following notification in your Notification Panel .
To learn more, see Renew Vagaro Capital Funding FAQ.
Comments
4 comments
But where do you keep track of your payment progress?
Hi Audrey, you can keep track of your payment progress in Reports > Vagaro Capital (under Messaging/Billing.
Are you able to defer or freeze the vegaro capital pay backs if you’ll be out of work for a period of time?
Hi Sara, it really depends on how long you'll be out of work. I would recommend calling the Vagaro Capital support line at (925) 464-1932, ext. 2 for more information. They'll work with you on your request.
Thanks,
Jamie
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