Understanding funding capacity
Funding capacity is the total amount of funding we may be able to provide to your business based on the data we have available about your business. This funding capacity can be used to extend payment terms on approved bills and receipts.
Funding capacity is calculated using your business’ revenue data. Funding Capacity may change when you connect revenue accounts (Shopify, Amazon, PayPal, etc), marketing accounts (Facebook, Google, etc), and/or banking accounts.
Stages of Funding Capacity
Complete Your Funding Application
You’re almost there. This stage means Clearco needs a few more details before we can review your business and prepare your funding offer. Follow the prompts in your dashboard to complete your application.
Your Offer Is Being Prepared
You’ve completed the required steps — now Clearco is reviewing your business information and preparing your funding offer. When your offer is ready, you’ll see the available funding details in your dashboard.
Approved Funding Capacity
Approved Funding Capacity refers to the available funding capacity generated by connected e-commerce revenue data that is approved by our Diligence Team. This amount is available for 30 days from the approval date, unless otherwise stated on the dashboard, and may be used to fund invoices and receipts.
Capacity Expired
Your previous funding capacity has expired and needs to be refreshed. Follow the prompts in your dashboard so Clearco can review your latest business information and prepare an updated funding offer.
Extensions plans
Clearco provides extension plans with a potential 4 to 12-month estimated payment schedule, with a weekly payment cadence to us. The exact extension plan available depends on your business’ eligibility and will be confirmed after the completion of our diligence review and will be reflected on your contract.
Please keep in mind that available funding capacity is subject to review by our Diligence Team and will be confirmed after the review process.
If you have any further questions about funding capacity, please contact us at support@clear.co.