Loans Eligibility FAQs
For eligible borrowers, SAPI Loans offers exclusive access to business loans to grow your business. You can check your business’s eligibility by going to the Loans tab of your online SAPI Dashboard and by keeping an eye on your email inbox.
Check your business’s eligibility for SAPI Loans through commonly asked questions below.
How do I check if I am eligible?
If you don’t see an offer in your SAPI Dashboard, your business isn’t currently eligible to apply for SAPI Loans. But keep in mind that SAPI accounts are reviewed for eligibility on a daily basis. Offer eligibility is based on a variety of factors related to your SAPI account, including payment processing volume, account history and payment frequency. The more you use SAPI, the more likely you are to become eligible for an offer through SAPI Loans.
What happens now?
Note: SAPI is unable to manually generate or predict offers; all business customers must qualify based on eligibility criteria.
How is eligibility determined?
There are many factors that may affect your eligibility, and accounts are evaluated as a whole. This means that meeting one or more eligibility factors doesn’t guarantee that you’ll be eligible for a loan offer – your business needs to satisfy all criteria to be eligible.
Your business’s SAPI processing volume is just one of many considerations used to determine eligibility.
Here are a few examples of the things that are considered when evaluating your business for an offer:
- SAPI processing volume: In general, businesses that have processed at least £10,000 or more in a year are more likely to be eligible for an offer.
- SAPI payment frequency: The frequency of card payments you process through SAPI matters. If you consistently take payments, you’re more likely to get noticed. To us, a steady pattern of taking payments shows that you have a healthy business.
- Your customer mix: A good mix of new and returning customers shows us that you’re growing in different ways. You can use SAPI’s analytics tools to understand your customer base better.
- A healthy, growing business: The size of your loan offer is generally shaped by how much you process through SAPI.
Why is my business not eligible for a loan right now?
While your business needs to satisfy the above criteria to be eligible for SAPI Loans, the below factors also impact eligibility:
- Chargeback history: A chargeback happens when a customer disputes a charge from your business and contacts their bank to reverse it. You can reduce your chargeback risk by avoiding card not present (manually keyed) payments when your customer is in store. You can use a SAPI Reader to process contactless or chip cards in person and review our best practices for accepting card payments.
- Multiple SAPI accounts: If you have multiple SAPI accounts or locations with outstanding loans through SAPI Loans, make sure that they are all processing consistently and are current with loan repayments.
- Failed debits: Your SAPI account is reviewed for failed debits due to insufficient funds. Please be mindful of the amount of funds available in your linked bank account to avoid failed debits.
Looking for another loan offer?
All SAPI accounts – including accounts with an active loan – are reviewed for eligibility on a daily basis. If your business is currently repaying a loan, you may become eligible for another offer. You do not need to contact us or provide any additional information to become eligible for a subsequent loan offer. Simply keep doing business as usual.
Will I be eligible for a new loan if I pay off my current loan through SAPI early?
Making an extra payment or paying off your loan early will not not increase your chances of getting another loan offer through SAPI. Eligibility for another offer is not guaranteed, regardless of whether you prepay your current loan. Also, keep in mind that making a loan payment through the SAPI Dashboard will expire any existing loan offers. Learn more about early repayment via our Support Centre.
All loans are issued by SAPI Group Limited. Companies House No. 12014174. Valid bank account is required. Actual fee depends upon payment card processing history, loan amount and other eligibility factors. A minimum payment of 1/18th of the initial loan balance is required every 60 days and full loan repayment is required within 18 months. Loan eligibility is not guaranteed. Eligibility criteria include consistent and continuous payment card processing. All loans are subject to credit approval. Terms and conditions apply.
Information Requested by SAPI Loans
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Business Sold or Closed
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