After you have accepted a Capital funding offer, you will be given a repayment rate that is calculated considering your trading history and expected volume. If you do not meet the expectations for repayment, we may reach out to you to discuss some available options.
You may be entered into the collections and recoveries process for the following reasons:
- You have not made a repayment recently.
- Your repayments are below the minimum expected amount based on our forecasts and understanding of your business.
If you fall under either of these categories, we will put you in touch with the collections team from Mollie or YouLend. We will work with you to understand the circumstances of your business and options for repayment. We will try to contact you by email or phone. In case you want to contact us back, you’ll find the contact details in your Mollie dashboard.
What happens if I do not contact Mollie or YouLend?
Mollie or YouLend will try to contact you over a 30 day period since you last paid the minimum expected amount. If we cannot reach you within this period, your funding will be defaulted and we will begin the recovery process.
Recovery process
Mollie or YouLend will take all possible steps to find a solution that satisfies both parties before they begin the recovery process. When this is not possible and a funding is defaulted, your unpaid cash advance will be transferred to a third party. This means on your end you’ll simply be repaying a different organisation for the remaining balance owed. We can confirm the contractual agreement signed for the sum provided by Mollie or YouLend remains unchanged. If you resume processing payments with Mollie at any point, we will continue deducting a percentage for Capital repayments, which will be forwarded to the third party until the funding is fully repaid.
Once your funding has been transferred to a third party, the dashboard will no longer display updated repayment information. You’ll need to contact the third party directly for repayment details. Their contact information will be available in your Mollie dashboard.