Overview
Repayments are fully automated. On a set weekday each week, your scheduled payment is debited from your selected account. You’ll receive reminders and can track upcoming payments and remaining balance in your dashboard.
Repayment schedule
- Weekly ACH debits on a set weekday for the length of your term
- Your dashboard shows your next upcoming payments and remaining balance
- Payments are fixed, with a portion of the fixed fee paid earlier in the term and more principal paid later
Early payoff (no penalty)
You can pay off early at any time with no prepayment penalty. This can be done by clicking "make a payment" in your Lending tab.
Missed or overdue payments
If a payment is missed or returned, make sure your repayment account has sufficient funds as soon as possible. Missed payments may take 1–2 business days to reflect in your loan dashboard. Once updated, you’ll see an option to make up the payment. If you have questions or need help reviewing your account setup, contact Relay Support.
Changing your repayment account
At this moment, users cannot change the repayment account used for their Relay Capital Loan payments.
Pricing and total cost
- Fixed fee per draw; no origination fees
- Your weekly payment, total cost, and payoff date are shown before you accept
- Your final terms include annualized cost and any required state disclosures (APR varies by customer)
Frequently Asked Questions
Can I change my payment day?
At this moment, users cannot change the payment date for their Relay Capital Loan payments.
Will early payoff save me money?
There’s no penalty to pay early; the exact payoff amount is provided in your payoff quote.