Stripe Capital Support Article

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

RentRedi landlords are automatically reviewed for eligibility daily, and we’ll send you an email if your business qualifies for an offer. The criteria for eligibility are based on several factors, including your transaction volume and history with RentRedi.

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

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:

If you accepted the example offer above and were approved, you would receive 17,000 USD in the bank account associated with your RentRedi 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 financed of 18,700 USD (the 17,000 USD financed plus the 1,700 USD flat fee).

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

If you would prefer to pay faster or pay 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 financing overview page. There are no additional fees for early payment.

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

For Stripe Capital loans, 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 financing offer. If the total payments deducted from your sales cover the minimum payment requirement, then you’ll continue to pay back your financing 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 financing agreement.

Stripe Capital offers financing types that include loans and merchant cash advances. All financing applications are subject to review prior to approval. In the US, Stripe Capital loans are issued by Celtic Bank, and YouLend provides Stripe Capital merchant cash advances. See your Dashboard for the terms of your offer.