Renewal eligibility and the renewals queue

A merchant who has paid down half an advance is the easiest deal you will close this month, and the lender knows it too. The renewals queue tells you who is ready, who is close and when everyone else gets there, so you call first.

• RenewalA renewal is a new advance to a merchant who has paid down an existing one. It pays off the remaining balance, and eligibility usually starts at 40 to 60% paid in.
• Paid-in percentagePaid-in percentage is how much of an advance's payback a merchant has remitted so far. Funders use it to decide when a merchant can renew.

Each funded deal gets its threshold when it is marked funded, in this order: the offer's own renewal requirement, else the lender's Renewal threshold, else your organization's Renewal eligible at (50% unless you change it).

1. 1For the default: Settings → Organization → Deal math defaults → Renewal eligible at, then Save changes (owner only).
2. 2For one lender: open the lender, Edit, and set Renewal threshold under ISO agreement & commission.

A funded deal is eligible when its status is Performing or Paid off, no renewal has been started, and percent paid has reached the threshold. The CRM checks every time a remittance is recorded and again every night. The first time a deal qualifies it writes the date and a note on the funded deal and the original deal's timeline.

With Renewal automation (part of the Pro plan), it also creates a high-priority call task for the deal's rep, due the next business day.

Example: a lender's threshold is 60% on a $52,800 payback, so the merchant needs $31,680 remitted. At $26,655.08 remitted they are $5,024.92 short; paying $333.19 a business day, they cross in about 16 business days, and the queue shows that date.

1. 1Open Funded → Renewals.
2. 2Eligible now: paid past the threshold. Call these first, oldest eligibility at the top.
3. 3Eligible within 30 days: projected from each merchant's actual payment pace. Start the conversation.
4. 4Later: projected dates for the rest of the active book. No pace yet means no remittances are recorded.
5. 5Click Start renewal, check the Requested amount (it defaults to the current advance; the dialog shows today's payoff balance), and click Create renewal deal.

The new deal opens with deal type Renewal at App In - Collecting Docs, linked to the original deal and the funded advance, with the same rep and lead source. The funded deal then shows Renewal started and a Renewal deal button.

• Projections are only as fresh as your remittances. Import the lender reports weekly.
• A Behind or NSF returns merchant is not eligible even past the threshold. Fix the status when they catch up.
• Start the renewal before you pull new statements: the renewal deal is where the statements, matches and submission go.