ClearAccept: 
Revenue Finance FAQs

Our revenue-based finance product provides flexible funding to customers. Based on your transaction history, you can get access to future card sales as an upfront sum of cash, with a fixed fee.

More about Revenue Finance

  • How does Revenue Finance work?

    If eligible, you’ll receive an offer with your available funding. Once you’ve selected your funding level, Liberis will agree on a price with you. This is one fixed cost added to your advance, which will form your total repayment.


    To process your application, Liberis will look at your business and conduct some checks, including affordability, credit, and insolvency.


    Once approved, you’ll get your funds.


  • Who’s Liberis and how are we working with them?

    Liberis is a global embedded finance platform, based in the UK. We have partnered with Liberis to offer the Revenue Finance product to merchants.

  • What are the benefits of Revenue Finance?

    It’s a great way to fund that project you’ve been thinking about, like a renovation, buying new inventory or equipment, getting new suppliers or purchasing merchandise. It can also help you with cash-flow in your quieter periods.   

  • Can I tailor my quote?

    Yes. Choose your preferred funding amount (within limits) and the percentage of your card transactions that you’d like to pay towards the advance. This will determine the funding fee and the overall amount that you’ll pay.

  • Is Revenue Finance right for me?

    If you’re a small or medium sized business and you take card payments, then Revenue Finance is a simple way for you to access funds with a stress-free repayment method. 


    Revenue Finance is best for businesses that take a lot of card payments. 

  • How is Revenue Finance different to a bank loan?

    To get ClearAccept Revenue Finance you must be processing payments with ClearAccept Direct. 


    Revenue Finance isn’t a loan. It’s an alternative form of financing that, unlike a traditional loan, does not have a fixed repayment term nor recurring interest or APRs.

Funding

  • How much funding can I get?

    This depends on your business sales. Liberis will examine your monthly card transactions and give you a personalised finance amount.

  • When will I get my money?

    If contracts are signed and the settlement account change has taken place before 4pm, you’ll receive your funds by 6pm the same day (Monday to Friday).

  • Can I adjust my funding amount after I’ve received my funds?

    No, it’s not possible to immediately change the total amount that you’ve received. However, you may be eligible to top up your funds once you’ve repaid a minimum of 50%.

  • How much will my finance cost?

    The total amount you owe is your finance amount plus a fixed fee. You won’t pay any interest or any other fees, ever.

  • Once I accept the offer and apply for the product, how quickly will I receive funding?

    Once you’ve provided all the necessary information and signed your contract, it can take up to 48 hours for your funds to arrive.

  • Am I eligible for additional funds while I’m paying the existing amount?

    Yes. Once you’ve paid 50% of your existing finance, you may be eligible for additional funding.

  • Does paying the total amount early automatically qualify me for additional funding?

    If you repay your finance, you may be eligible for additional funding. Note that you do not have to repay your advance early to gain access to additional funding.

Credit Checks

  • Which credit checks do you perform? Will they impact my credit score?

    Once you’ve submitted an application, Liberis will use a number of sources to understand your business. Liberis carries out company and consumer credit bureau searches, which will leave a record of the search on both credit files. Your credit score won’t be affected when applying with Liberis.

  • Do you take any security or collateral?

    No. Revenue Finance is an unsecured type of finance access and unlike traditional loans, no collateral is taken.

  • Do you require personal guarantees?

    Yes, you’ll require a personal guarantee if you’re applying as a limited company or limited liability partnership.

Repayments

  • Can I pay my Revenue Finance early in a lump sum? Are there any fees associated?

    Yes, you can make a lump sum payment or pay the total amount outstanding at any point by contacting support. You won’t incur additional fees for early payment. There's no reduction in overall cost either, as the fee is agreed upon upfront and fixed from the outset.

  • How are payments collected?

    A fixed percentage of your daily card sales is automatically deducted until your advance is fully paid. If sales are up one day, you pay more - if you have a slow day, you pay less. You must pay a monthly minimum of 3% to Liberis.

  • Can I change my payment rate while I have an active advance?

    Yes. Please contact the Liberis Customer Support team on +44 20300 23808.

  • What happens if I don’t make any sales for a few days?

    Don’t worry. We only take payments from you when you get payments from your customers. If you’re not able to transact for seven days or more, please let us know.


    You’ll still be required to meet the 3% minimum monthly amount (MMA).

  • What happens if I miss the minimum monthly amount (MMA)?

    Missing the MMA once will have no impact. If you miss it for 28 consecutive days, the Liberis Payment Assistance team will contact you to discuss how they can assist you.

  • Can I change card machine provider while I have an active Cash Advance?

    No, we ask you to stay with your current provider for the duration of your advance.

  • Can I pause my payments?

    We don’t typically allow our customers to do this, but please contact Liberis Customer Support if you’re struggling to make payments.

  • What is the payment period for Revenue Finance?

    This depends on your transaction history. However, you’ll be given an estimated timeframe at the outset – typically between six months to one year.

  • What is a Modulr Settlement Account?

    This is an operational account opened in the business owner’s name that allows Liberis to collect Revenue Finance payments via a ‘split’.

    When payments are settled to the business owner on the following business day, the funds arrive in the settlement account. The split happens instantly and the remaining funds are passed on to the owner. There is no delay in the settlement.

Eligibility

  • What is the eligibility criteria?

    Liberis determine your eligibility based on a number of different factors including your time with your processor, your processing volume, and the frequency of transactions, among other factors.


    We review eligibility on a monthly basis. If you become eligible, you’ll receive an email with more information and a link to apply.

  • What are the minimum eligibility requirements?

    To qualify for an offer for Revenue Finance, your business must:

    • Be located in the UK.
    • Have processed payments with ClearAccept for a minimum of four months.
    • Have a monthly minimum transaction processing volume of 1,500 GBP.
    • Have a good relationship with Liberis. If you’ve previously applied for Cash Advance and been rejected, you’ll be ineligible to receive new offers for three months.

    Please note that meeting the minimum eligibility requirements outlined doesn’t guarantee qualification.


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