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Renew Vagaro Capital Funding FAQ

Jamie B
Jamie B
• Updated

What is an Early Renewal?

Merchants with Vagaro Capital funding could be eligible for an additional cash advance once they've paid for 50% or more of their funding. Factors for funding eligibility and amount include monthly processing amounts over the past 12 months, current payback speed, and business closures.

Why Should I Renew Early?

Renewing your funding gives you access to very fast, flexible funding in as little as four selects. As with any business decision, it is important to carefully evaluate the use of funds and the potential return on investment for your business. When considering a renewal, there are a number of factors to take into account, such as the seasonality of your business and your processing amounts over the previous 12 months.

While fees may be charged for early renewals based on the total amount (previous balance plus renewal balance), the percentage split can remain the same. This means that you can inject funds into your business without negatively impacting your cash flow.

How Will I Know If I'm Eligible for an Early Renewal?

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 Bell Icon.

renew_funding_2x.png

What Do I Need to Know About Renewal Pricing?

If you decide to renew early, please note that the Fixed Fee will be higher than if you wait until your balance is at zero. This is mainly due to the fact that we add your outstanding balance to the new advance amount, and then we calculate the fee based on the combined amount. Let's say you have a balance of $5000 and you require an additional advance of $5000. In this case, we add both amounts and calculate the fee based on the combined total.

If I Don't Take the Full Amount I'm Eligible for, Can I Come Back for More Later?

No, even if you only take a percentage of the full amount you’re eligible for, you can only get more funding once you pay the balance or receive another renewal.

Comments

8 comments

Date Votes
  • Jennifer EGBELE

    how do I renew vagaro capital funding?

    -3
  • Jamie B

    Hi Jennifer, if you haven't received a notification to renew your capital funding, that currently means that you are not eligible to renew. 

    Thanks, 

    Jamie

    0
  • Dr Carla Vilches

    What if I accidentally clicked the X on the notifications? Will the offer come back? 

    0
  • Jamie B

    Hello Dr Carla, if you dismiss the popup, you can go to the Vagaro Capital page to renew your funding.

    Thanks, Jamie

    0
  • Mo Worsley

    I’ve received notification for new funding however every time I try and apply I get an error message and cannot proceed any farther! 

    Any guidance would be great! 
     

    0
  • Jamie B

    Hi Mo, I'm going to create a ticket for you so our Support Team can look into this.

    Thanks, Jamie

    0
  • Stacey Fogel

    When You use the early renewal, how does it take payment? Does it add them together and take the new percentage? 

    0
  • Jamie B

    Hi Stacey, yes, that's correct.

    Thanks, Jamie

    0

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