Glossary
The fixed total you repay on an advance or revenue-based facility.
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The fixed total you repay on an advance or revenue-based facility.
It is the advance multiplied by the factor or multiple. It is stated in the agreement and does not change with how fast you repay unless the agreement includes a discount.
Because it is fixed, it is the clearest measure of what you are agreeing to.
A $25,000 advance at 1.24 has a payback amount of $31,000.
The payback is the figure to compare across offers. It is also the number a payoff letter will start from.
The payback is the number that appears in a payoff letter and in every comparison. A funder lists it next to the net funded amount, and the gap between the two is the real cost of the agreement. Keep a copy of it beside your cash-flow plan so each debit is visibly a step toward a known figure.
Some owners read the payback as the amount still owed at any moment. It is the total over the life of the agreement, and the remaining balance falls as remittances are made.
Only through an amendment or a new agreement.
See the related guides and the comparison pages, or apply and ask.
No. It is educational information, and agreements vary.
Educational information only. It is not legal, tax or accounting advice.
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