Renew Your Funding

Often nothing. If your Plaid™ connection is still active, no additional documents are required — underwriting already has what it needs. If it is not, upload recent business bank statements through the renewal request on this page. Either way you have already been underwritten once, so this is an update to your existing profile rather than a fresh application.

It depends on the program, and the guidelines above set out each one. Across all of them, additional funding assumes you are current on your existing program with a positive repayment history established. On the draw programs there is no renewal date to wait for — funds may be available on demand, up to your approved funding limit.

There is no set formula. When you send your updated documents and renewal request, your Relationship Manager works with underwriting to determine the options available, and the goal is for your program to scale as the business grows. Be specific about what the capital is for, because that is what guides the program choice. Many Coast clients run more than one program at once: a Working Capital Line for recurring expenses, equipment financing for essential equipment purchases, an SBA loan for buying their building or opening a second location. Be clear on the use of funds and your Relationship Manager can point you at the right one.

On most programs it sits alongside — your current balance stays as it is and the new funding is written as a separate transaction. Revenue-based programs and term options are usually a refinance instead: the renewal pays off what is outstanding and you net the difference. Renew on a $100,000 contract with $40,000 outstanding and $60,000 is new money to you, while the new payment is based on the full $100,000 contract over the projected term the renewal is written on — those figures are an illustration, not an offer. Early in a transaction, a second transaction is sometimes written alongside the original instead. The guidelines above have it program by program.

You have already funded once so unless you are applying for a different product, underwriting is simply updating your existing profile, which has no impact on your personal credit score. Most Coast programs never involve a hard credit pull at all. It applies only to certain traditional products — larger equipment deals and SBA loans — and even then only after an approval you have chosen to move forward with, with notice before it happens.

Often the same business day. Because you have already passed underwriting, a renewal is an update rather than a new application: updated financials go over if they are needed, underwriting usually comes back to your Relationship Manager within a few hours, and once you have accepted and signed, funds are released. Contracts signed by 11 AM PT Monday through Friday can fund the same business day; later than that and it is processed the following business day.* And on a Business Line of Credit or a Working Capital Line funds may be available on demand — log into your portal and draw, with none of the above needed.

No. None of Coast's programs carry a prepayment penalty.

Your Relationship Manager, alongside the Business Funding Advisor who structured your current funding. Coast's model puts a named person on your file rather than a shared queue — before funding and after it.