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How long does Novo funding take?
How does Novo funding work?
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How do I get a Novo cash advance?
How long does it take to get approved for Novo Funding? The Novo Funding application can be completed in under 10 minutes anytime, anywhere. Novo will complete its review within 24 hours so you can get right back to running your business.
You will receive a clear transfer schedule that outlines each repayment. The standard repayment period is six months per draw. However, you have the option to complete repayment early to replenish your Available Funding and put more capital back to work. Monthly factor rates are as low as 1.5%.
Sep 18, 2023 · After you submit your application, Novo completes its review within 24 hours. Unlike some other lenders that offer merchant cash advances, funding to your Novo checking account is instant after approval. You don’t have to wait — or pay for — for an ACH transfer to an external bank after approval.
How is my Total Funding Limit and Monthly Rate decided? What fees are charged? Is there a penalty for paying off your Novo Funding draw early? Can I pay my Novo Funding draw early or do I have to keep the funds out for the full 6 months? How does repayment work? How long does it take to get approved for Novo Funding?
Jul 25, 2023 · 10 months ago Updated. The Novo Funding application can be completed in under 10 minutes anytime, anywhere. Novo will complete its review within 24 hours so you can get right back to running your business.
A payout process that could take 3 days or more now happens in a fraction of the time. Integrations and Connections with Top Business Tools. Novo offers over a dozen native integrations with software for small businesses.
9 months ago Updated. You can re-apply after 60 days from receiving our decision.
