Which funding products does this apply to?

Merchant Cash Advance, Working Capital, Term Loan, Business Line of Credit, Equipment Financing. Each has its own page listing the funders in this directory that offer it and what each one publishes about its terms.

Are the figures here quotes?

No. Every worked example is labelled illustrative and exists to show the arithmetic. What a particular lender charges is on that lender's page, where it publishes it at all.

The Find Me Funders research desk. Some drafting is AI-assisted, and every page that is says so at the top, including whether a person has checked its claims yet.

How do I know a figure here is right?

Where a page carries the green notice, its claims were checked against the sources listed at the end and a reviewer is named. Where it carries the amber one, nobody has verified it yet and you should confirm anything you plan to act on.

Are the examples real deals?

No. Every worked example is labelled illustrative and exists to show the arithmetic. What any particular lender charges is on that lender's page, where it publishes it.

Why do you never say what a typical rate is?

Because we cannot source it. A market average assembled from lenders who do not publish prices is a guess with a decimal point on it. Where a lender publishes a figure, we show that figure and say where it came from.

Is this financial or legal advice?

No. It is general information about how these products work. Outcomes depend on your contract and your state, and a lawyer or accountant licensed where you are is the person to ask about your situation.

Can I reuse this content?

Quote a paragraph with a link back. Do not republish whole articles.

Funding day and the first payment: what to check

Funding day and the first payment: what to check while you still can

The money arriving is not the end of the transaction. Four things go wrong in the week after funding, and all four are cheap to catch early.

By Find Me Funders research desk Updated 14 September 2026 1075 words 5 min read

Drafted with AI assistance. Not yet independently checked. Nobody has verified the claims on this page against a source, so treat the figures and legal points as a starting point rather than as settled, and confirm anything you are about to act on. How we check things.

The gap between signing and the first cleared payment is where errors get baked in. Everyone is relaxed, the deal feels done, and the details that get skipped are the ones that cost money for the rest of the term.

Before the money moves

The funding call.On most non-bank products someone rings you to confirm the terms on a recorded line — amount, payment, frequency, account, guarantee. Treat it as the final read-back, not a formality. If any number differs from the document you signed, say so on the call rather than after. That recording is evidence, and it is the one piece of evidence in the process that is easy for you to create.

Bank account verification.The funder confirms the debit account is yours, sometimes with small test transactions, sometimes with a bank letter or a call. Confirm they have the account you intend to pay from. A debit set against the wrong account of yours is a fixable inconvenience; a debit against an account that runs close to zero is a fortnight of NSF fees.

Payoffs.If part of the money is repaying an existing position, get the payoff letter in writing, with a good-through date and a per-day figure. Confirm who is sending the funds and when. Then confirm in writing with the old funder that the payoff is expected, so their debits stop. The most common expensive error in this whole process is both funders debiting you for a week because the payoff arrived after the old schedule ran again.

On funding day

Check the amount that lands, against your own arithmetic.Not against what someone told you on the phone. Gross, minus each fee, minus each payoff, equals the wire. Ask for a funding statement that shows that subtraction line by line. If the amount is short and nobody can explain the difference in writing, do not spend it while you sort it out.

Note the mechanism and the timing.A wire and an ACH clear differently, and both are governed by cut-off times at the sending bank. A transfer initiated after the cut-off is a next-business-day transfer regardless of what anyone promised. Bank holidays extend it.

Keep the whole package.The executed agreement with all exhibits, the ACH authorisation, the security agreement, the guarantees, the fee schedule, the funding statement and the payoff letters. Save them somewhere that is not the salesperson's email thread.

The first payment

Check these on the day the first debit lands and again after the second:

The amount. Exactly as documented, to the cent.
The date and frequency. Daily on business days only, or every calendar day? Weekly on which weekday? What happens on a bank holiday — skipped, or doubled the next day?
The account. The one you authorised, not another of yours.
The originator name and ID. Write it down. You will need it to identify the debit later, and if you ever need to act on an unauthorised entry, your bank will ask for it.
Whether anything else is also debiting. Old positions that should have stopped, a servicing fee you were not expecting, a duplicate first payment.

Set a low-balance alert on the debit account, at a level above the payment amount. It costs nothing and it is the cheapest protection against a cascade of NSF fees, because an NSF on a financing debit is not just a bank charge — it is often a fee from the funder as well, and repeated ones are usually an event of default.

The week after

Confirm the old positions actually stopped.Look at the statement, not at anyone's assurance.

Chase the UCC termination on anything paid off.A satisfied lender's UCC-1 does not disappear by itself. A stale filing sitting against your assets will block or complicate your next application, and the time to get it terminated is while the relationship is fresh and someone still answers your emails.

Diarise the dates that will matter.Insurance renewal, if the agreement has an insurance covenant. Any financial reporting the agreement requires — monthly statements, quarterly financials, an annual return. Covenant test dates. These obligations are in the contract and lapsing on them is a technical default even when every payment has cleared.

Work out your actual payoff position.On a fixed-total product, know now whether paying early saves anything, because on many advances it does not. On an amortising loan, ask how a partial prepayment is applied — to principal, or to the last payments due — and get the answer in writing.

If something is wrong

Say it in writing, immediately, to the funder rather than the intermediary, and keep the reply. Discrepancies raised in week one are corrections. The same discrepancy raised in month four is a dispute, and by then the record of who said what has usually evaporated.

Check the wire against your own subtraction

Illustrative only — $150,000 gross, a 3% origination fee of $4,500, a $75 wire fee, a $95 UCC filing fee and a $38,412.60 payoff to an existing funder. The wire should be $106,917.40.

Do that arithmetic before the money arrives, from the fee schedule you signed, and compare it with what lands. A difference of a few hundred dollars is usually a fee you agreed to and forgot. A difference of a few thousand is usually a payoff figure that moved, a fee that was added late, or an amount that was cut at the last stage of underwriting. All three are answerable in an email on day one and very hard to unpick in month four.

The double-debit week, in numbers

Illustrative only — your old position debits $380 a business day, and the payoff lands on a Tuesday after Monday's debit has already gone. If the old schedule runs four more days before someone switches it off, that is $1,520 leaving the account on an obligation that no longer exists, in the same week the new schedule starts.

You will get it back. Getting it back takes a written request, a copy of the payoff confirmation, and a decision by a company that no longer has a relationship with you. Meanwhile the money is gone and the account may be short for everything else.

So confirm the stop date in writing with the old funder before the payoff is sent, and watch the account daily for that fortnight.