At Level, we work with you to understand the full picture of your business and use that full picture to qualify you for an Advance.
For example, you may work on apps that are not yet partnered with Level, or you may accept direct payments from your customers via platforms like PayPal or Zelle. Level will factor these earnings in when qualifying you for an Advance. In order to do this, as part of your Level Advance application, you will link your bank account and identify which deposit transactions we should look for as business income.
If you qualify for and accept an Advance, these deposit transactions will also be included in your repayment. For example, if you identify “Zelle” transactions as business income in your Advance application, these earnings will be used to qualify you for your Advance amount. If your repayment percentage is 15%, 15% of all “Zelle” deposits to your linked account will be billed to you for repayment for your Advance.
We recommend that if you designate a platform (e.g., Zelle) as a source of business income, you use it for only business income.
If you need to accept a personal payment through one of your business income platforms, please contact us; our Customer Advocates are here to help!
Want more? Email us at firstname.lastname@example.org or call toll-free at (877) 414-2955. You may also self-serve within our Help Center to learn more about our resources within Level Pro, our Level Earnings Account, which is FDIC insured through Piermont Bank; Member FDIC, and how our Level Advance payment and repayment works.