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Business Capital Merchant Experience

Updated

Overview

This article explains what merchants see and experience after a partner enables Business Capital. Partners use this article to set expectations with merchants, explain the application flow, and answer common questions about funding and repayment.

ℹ️ All loans are issued by Celtic Bank. All loans and offers are subject to credit approval, identity verification, and periodic review, and terms may change without notice. Bank transfers are subject to review

Important Context for Partners

  • Merchants will not see Business Capital until the partner enables and launches the program.
  • All offers shown to merchants are pre-approved based on the merchant’s individual sales history.
  • Approval decisions, funding, and repayment are managed by Parafin.

How Merchants Receive Offers

Eligible merchants are identified using historical processing data. When an offer is available:

  • It appears in the merchant portal, and/or
  • The merchant may receive an email notification

Not all merchants will receive offers at the same time.

Step-by-Step: Merchant Experience

Step 1: Accepting a Funding Offer

Once Business Capital is enabled by the partner:

  1. The merchant logs into their merchant portal
  2. A Business Capital tab appears in the left-hand navigation menu

At login, an eligible merchant may also see a pop-up notification indicating they are pre-approved for a funding amount.

Step 2: Viewing a Pre-Approved Offer

The pre-approved offer:

  • Is based on the merchant’s historical sales activity
  • Shows a maximum funding amount the merchant may qualify for

From the pop-up, the merchant can:

  • Click View Offer to proceed immediately, or
  • Dismiss the pop-up and return later using the Business Capital tab in the left-hand menu

Step 3: Filling out the Application

The application is designed to be simple and fast:

  • No traditional credit checks
  • Minimal required information
  • Much of the information is pre-filled using data already available from the gateway

When the merchant clicks Business Capital from the menu:

  1. They will see a summary page with their available offer
  2. The merchant clicks View Offer to begin the application
  3. The merchant can adjust the funding amount
    • They may select less than the offered amount
    • They cannot select more than the approved maximum

During the application:

  • Any information already shown has been pre-filled where possible
  • If the information is correct, the merchant clicks Continue to proceed

If the merchant exits the application before finishing:

  • Their progress is saved
  • When they return, the button text will update (for example, Complete Application or Continue Application) based on the last completed step

Step 4: Approval and Offer Acceptance

After submitting the application:

  • Many merchants receive near-instant approval
  • The merchant is shown a summary page with:
    • Final funding amount
    • Repayment details
    • Fees disclosed upfront

To proceed, the merchant clicks Accept.

Step 5: Funding

After the offer is accepted:

  • Funds are deposited into the merchant’s bank account
  • Funding typically occurs within 1–2 business days, if approved

Once funded, the merchant can return to the Business Capital section to:

  • View repayment progress
  • Track remaining balance
  • Review estimated payoff timing

Repayment Experience

Repayment is automated and managed by Parafin:

  • Repayment may be based on a percentage of daily sales or scheduled terms
  • Payments flex with sales volume
  • A single flat fee is disclosed upfront
  • No compounding interest or late fees

Merchants can view repayment progress in their dashboard.

What Partners Control vs. Don’t Control

Partners can:

  • Enable or disable merchant participation
  • Where merchants are directed to accept offers
  • View reporting and commissions

Partners cannot:

  • Approve or deny offers
  • Change pricing or repayment terms
  • Manage collections or servicing

Common Merchant Questions

How fast will I get funded?
The majority of pre-approved merchants complete their applications and get funds in 1-2 business days, if approved. In some cases, Parafin may request additional information. 

What happens if sales slow down?
Repayment adjusts automatically with sales volume.

What happens if I stop the application and come back later?
The application saves progress and allows the merchant to continue where they left off.

Can I take less than the offered amount?
Yes. Merchants can choose a lower amount, but not more than the approved maximum.

Need Help?

For additional support, please contact our Support team by submitting a ticket:
https://support.nmi.com/hc/en-gb/requests/new