Business funding provides fast, flexible funding to help give your cash flow a boost when you need it.
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What to expect when you apply
Once you've completed your application, we'll send it over to our funding partner, YouLend. A member of their specialist team will review your application and contact you within one business day to explain the next steps.
If approved, funds will usually be paid to your bank account within two business days.
How to make repayments
Once you’ve received your business funding, the repayment process begins automatically. From this point on, a percentage of your card transactions will go towards paying off your advance.
This is a fixed percentage you choose when you apply, and it’s deducted before your takings are transferred to your bank account.
This means that your repayments are always proportionate to your earnings.
You can log into the YouLend portal at any time to check the progress of your repayments, and view the outstanding balance.
How to increase your advance
Once you’ve repaid at least 50% of your business funding, you’ll be able to top up your funding.
We’ll automatically contact you once you’re eligible.
FAQs
Am I eligible for business funding?
Eligibility criteria will apply. Your card transaction history, business performance and credit information are considered as part of the application process to determine if you are eligible for funding and the amount available to you.
Your pre-qualified funding amount may be adjusted to reflect changes to your regular trading.
If you're eligible for business funding, you'll also see a 'business funding' tab in your Dojo account.
How much funding can I get?
The amount you’re eligible for depends on your monthly revenue, and how long your business has been operating. Average funding is approximately 0.8-1 times your average monthly card turnover. You’ll get a quote once you’ve input these details at the start of the application process.
How long does it take to repay?
This depends on the size of the advance, the repayment percentage and your card turnover. The typical length to repay is nine months.
Is business funding right for me?
If you’re a small to medium-sized business that takes card payments with a Dojo card machine, business funding is a simple way to access funds without having to commit to one defined monthly repayment. The repayments ebb and flow with your revenue, putting you in control.
If most of your payments are made in cash, this funding might not be appropriate.
How does it work?
Depending on your monthly card turnover YouLend will present you with a number of offers. Once you pick the amount and repayment plan, you will receive your funds. Repayments are made as a fixed percentage of your daily card takings. So you’ll pay a little more on busier days, and a little less on quieter ones.
How do I make repayments?
Repayments are made automatically from your daily card taking. We will charge you a fixed percentage agreed upon in advance.
How do I apply?
You can apply directly in the Dojo app or by visiting the YouLend application page. Applying only takes a couple of minutes. We'll ask for your Merchant ID, along with your monthly card revenue and desired funding amount.
How fast do I receive my funds?
If your application is successful, you could receive your funds the same day. The typical window is 1 - 2 working days.