Creating a New Advance

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Step 1: New Advance

Start by clicking New Advance from the Client Dashboard.



Step 2: Advance Assignments

You will need to input the assigned Sales User, Funder, Underwriter and Closer.



Step 3: Pricing

Here you will need to input all of the payment information for the advance, make sure to input information in ALL of the field boxes. 


  • Advance Types: Add on, New or Renewal
  • Repayment Method: ACH or CC
  • Advance Amount
  • Repayment Period: Days, Weeks or Months
  • Remit: (used for CC transactions)
  • Factor Rate
  • Payback Amount: (populated automatically based on the Advance Amount and Factor Rate)
  • Payment: (populated automatically based on the Payback amount and Repayment Period)


Step 4: Lock Pricing

After you have configured the pricing section on the advance, you will then need to update the advance status to the locking status that is chosen in your advance settings.



Step 5 : Configure the Participation

  • Syndicate Partners: Here you can select the syndication partners that are participating in this deal and allocate their participation amount.
  • Fee %: You can also apply a servicing fee. After entering a percentage, choose whether the fee will be based on the advance amount, the payback amount or per advance payment.



Step 6: Funding Info

All of the funding information needs to be entered before setting the advance status into In-Repayment (Funded / Completed status from within Advance Settings).

  • Merchant Bank Account
    • Routing Number
    • Account Number
    • Account Type
    • Name On Account
    • ACH Gateway
  • Merchant Fees
    • Origination Fee
    • Program Fee
    • Wire Fee
    • Other Fee
  • Funding Details
    • Contract Date
    • Contract #
    • Funding Date
    • Wire/Conf Number



Step 7: Change advance status to In-Repayment 

Changing the advance status to 'In-Repayment' (Funded / Complete Status that is configured in your advance settings) will activate the payments module for this advance. If the pricing information and the funding information is not filled out then the system will not allow you to update the advance status to In-Repayment.


Step 8: Auto ACH Drafting

  • Payments Tab: Again this tab will appear once all of the pricing and funding information has been filled out and the advance gets put into the 'In-Repayment' status.
  • ACH Auto Drafting: You will need to enable 'Auto ACH Drafting' for this advance and click 'Save File' in order for payments to auto draft depending on if this advances repayment period is set to daily, weekly or monthly.


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