The more card sales you process, the faster you'll pay down your financing. This repayment process will begin automatically 1-2 business days after the funds have been deposited into your account. You process sales as normal, and after your daily processing batch has settled, Lightspeed will debit your account a percentage of that batch according to your repayment rate. The total card sales you process in a day will determine how quickly you pay back the advance. You’ll repay the amount owed automatically over time at the speed of your business. There is no deadline to pay down the advance and there is no accrued interest or late fees. Regardless of how long it takes you to pay down the total amount owed, you will never be charged more than the financing amount and the flat fee. Eleven percent of your daily transaction total would then be debited from your account after that processing batch has settled until you've paid down the total amount owed of $23,400 (the $20,000 advanced plus the $3400 flat fee). If you accepted the example offer above, you would receive $20,000.
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