Glossary
A new advance with the same funder after the earlier one is partly repaid.
✓ Checking what you qualify for does not affect your credit score.
A new advance with the same funder after the earlier one is partly repaid.
The remaining balance is rolled into a new, larger advance. You receive the difference in cash.
Convenience can hide cost, so compare.
$20,000 left on an old advance is rolled into a new $50,000, with about $30,000 net before fees.
Renewals are convenient because the funder already knows the file.
A renewal is read against payment history on the earlier advance, because it is the best evidence available. A funder that has watched clean remittances for months can approve quickly, and the file may need little new paperwork beyond fresh statements.
Renewing is not obligatory. A new advance sized to just the extra cash you need can be cheaper than rolling the old balance.
Not always. Compare with a new advance of just the extra amount.
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.
Same-day decision. Applying takes a few minutes and will not affect your credit score.
