What is Stripe Capital?

Stripe Capital

TenantCloud has partnered with Stripe to offer eligible businesses access to fast, flexible financing through the Stripe Capital program.

Eligibility

TenantCloud businesses are automatically reviewed for eligibility on a daily basis, and we’ll send you an email if your business qualifies for an offer. The criteria for eligibility is based on a number of factors including your transaction volume and history with TenantCloud.

Eligible US businesses will receive an email if they have an offer to apply for available.

Offer structure

If eligible, you’ll receive an email with your personalized offers and you can choose the one that works best for your business. Each offer will outline:

The financing amount: the dollar amount that will be deposited into your bank account

The flat fee: the fee you’ll pay over time in exchange for the financing amount – there are no other fees and or compounding interest

The total amount owed: the sum of the financing amount and the flat fee

The repayment rate: the percentage of your daily card transactions processed through TenantCloud that will be withheld to repay the total amount owed.

Here’s an example offer you might receive:

financing amount: 17,000 USD

flat fee: 1700 USD

total amount owed: 18,700 USD

repayment rate: 12%

If you accepted the example offer above and were approved, you would receive 17,000 USD in the bank account associated with your TenantCloud account within 1-2 days along with your usual payout. Stripe would then withhold 12% of your daily transaction total in addition to the usual processing fees until you’ve paid down the total amount owed of 18,700 USD (the 17,000 USD advanced plus the 1,700 USD flat fee).

Repayment

You’ll automatically repay the financing over time through a percentage of your transactions according to your repayment rate. The repayment process will begin automatically 1-2 business days after the funds have been deposited into your account. The more card sales you process through TenantCloud Payments, the faster you’ll repay.

If you would prefer to repay faster or repay the entire outstanding balance, you can arrange to make a manual payment in addition to the withheld amounts by clicking the ‘Make Payment’ button in your loan overview page. There are no additional fees for early repayment.

Repaying early doesn’t guarantee subsequent financing offers. Accounts are automatically reviewed for additional offers on a daily basis and we’ll send you an email if you qualify for any additional offers.

You’re expected to repay a minimum amount every repayment period. That period will be determined during underwriting and based on the total term of your loan offer. If the total payments deducted from your sales cover the minimum payment requirement, then you’ll continue to pay back your loan through a percentage of your transactions.

However, if payments deducted from your sales over that period happen to fall below the minimum payment requirement, you’ll be required to pay the remaining amount. Stripe automatically debits your bank account or account balance for the balance needed to meet your minimum payment. You can view your minimum payment amount in the Dashboard or in your loan agreement.

To see a daily summary of your repayment progress, see the loan overview page.

Last updated:
Dec. 12, 2024