Gravity Capital is a small business funding program for Gravity Payments customers. It works with your credit card processing to make paying off your balance a breeze. There are no set monthly payments and no compounding interest.
No lengthy process, our application can be completed in a few minutes. When you accept an offer, funds will be in your account the next day.
One flat repayment amount
No compounding interest. Just a simple repayment amount. Every dollar you repay lowers your outstanding balance.
Repay with credit card sales
We apply a set percentage of your daily card sales toward your Gravity Capital balance before it ever hits your bank account. Pay less on slow days and more when business is booming.
“Gravity Payments’ Working Capital Program provided me the funding I needed to finish a large patio addition. It was great not to have to mess with the process and red tape of a standard bank loan.”
– James S., Pecado Bueno
HEAR FROM A BUSINESS OWNER
"The working capital program gives us a little bit of flexibility without leading us into more debt."
How does it work?
It only takes a few minutes. All you need is a completed application and your most recent 4 months of bank and credit card processing statements.
Our team will review your application and get back to you with options or next steps within a day.
Once your funding option is confirmed, the money will be in your bank account as soon as the next day.
Ready to get started? Its easy.
There are many ways to get started: Start an application with the form below, schedule a call with us, or email us at [email protected]
Want to speak with a specialist? Schedule a time that’s convenient for you.
You can start an application by completing the short form above. Once you fill out the form and click “Start my application!”. You will receive an email with instructions and a link to your DocuSign application.
How much can I apply for?
We will often approve up to 80% of your business’s average monthly credit card processing volume. So for example, if your business processes $10,000 per month in credit card sales, you could apply for any amount up to $8,000.
What documents are required to apply?
For amounts $50,000 and under, you will need to provide your 4 most recent months of bank statements, and if you have been a Gravity customer less than 4 months, we’ll ask for 4 months of card processing statements as well.
For amounts over $50,000, you’ll be asked for the above, along with your YTD and prior year Income Statement and Balance Sheet.
How do I repay?
We automatically collect a set percentage of your daily credit card sales and apply this amount to your outstanding balance. You pay a bit more on busy days and less on slower days. This happens before the funds are deposited to your bank account, so you don’t have to worry about remembering to make a payment or funds being automatically withdrawn from your account.
What is the interest rate?
Gravity Capital is not a traditional loan and does not have compounding interest. We agree to a set dollar amount that you will pay back. Every dollar you repay lowers this balance. You can get a complete quote by completing an application.
Once I accept an offer, when will the funds be available in my account?
Once you agree to an offer we will send you our funding agreement. Once this is signed, you can expect the funds to be available within 1-2 business days.
Can I pay down my Gravity Capital deal early?
Yes! You can pay off the amount owed or make an additional payment at any time. There are no fees for early repayment.
I already have short-term funding from another company, can I use Gravity Capital?
We are unable to approve funding for businesses that have a separate advance with another provider of short term funds. Once your advance is paid, you are eligible to apply with Gravity Capital.
Can I see an example?
Of course! Let’s say Ice Cream Shop A applies for $10,000. After a speedy review, we approve them for $10,000 with the following options:
Funding Amount: $10,000
Financing Fee: $800
Payback Amount: $10,800
Sales toward repayment: 10%
Funding Amount: $10,000
Financing Fee: $1000
Payback Amount: $11,000
Sales toward repayment: 8%
Funding Amount: $10,000
Financing Fee: $1,200
Payback Amount: $11,200
Sales toward repayment: 6%
They decide to go with Option 1. The next day, the funds are available in their bank account. At the end of the day, they had $500 in credit card sales. Before that money arrives in their bank account, $50.00 is automatically applied to his outstanding balance of $10,800. Their outstanding balance is now $10,750, and they receive a deposit of $450 to their bank account. This process is then repeated until the balance is paid off.
Will this affect my credit score?
Once you have been deemed eligible for Gravity Capital by our other underwriting standards we do complete a credit check which may affect your credit score. We only do this once you have been determined to be eligible based on your processing history, bank statements and financials (if applicable).
What happens if my business closes for a period of time?
If this happens to you, reach out to us at [email protected] to develop a plan together.