Repayment of loan
Tillful works with different lenders to provide business funding options and credit cards. It puts the other lenders’ financial solutions on its website, and once you qualify for one, your funding or credit card obligation will be taken to this particular lender. Your business loans will be serviced by the other company which you sign an agreement with. It means you will pay back not Tillful but the servicing company.
Depending on the lender, you will pay Wire, by ACH, by phone, or by mailing your money orders. The due date starts the next month you’ve received the funds.
Tillful makes money on advertising and merchant transactions, so you are likely not to pay the company anything. However, look out for the fees. They are stated in your agreement and can increase the cost of your service. This may require you to transfer money from your bank account directly to Tillful by Wire transfer.
Early payoff
Consult your funding advisor for the fees on your loan and review the contract you sign. There will be stated a possibility to pay off the loan early, and the conditions on that. Most lenders don’t charge penalties for early payoffs, unless you don’t take a loan for credit score improvement. In this case, you better keep paying through the entire total loan life.
