Before you draw funds, you will be able to review and confirm your repayment terms.
Payment terms include the number of weekly payments you’ll be making and the total amount that will be debited each week. You'll also be able to review the breakdown of your weekly payments into principal and fees.
Debits are made automatically every Wednesday at 10am PST, starting no less than eight days after you draw funds. That means if you draw on a Tuesday, your first weekly payment will not be debited the next day, rather, your first debit will be scheduled for the following Wednesday, eight days from when you drew funds.
Similar to how a credit card works, when you draw funds your available credit goes down. When you make a payment, your available credit goes back up, usually within 3 business days.