5 minutes Managing Your Advance
Overview
A top-up allows you to receive additional funding while your current advance is still being repaid. This is ideal when your business needs more capital before fully paying off your first advance. This guide explains eligibility, the application process, and how top-ups work.
What is a Top-up?
A top-up is additional funding provided on top of your existing payment-linked advance.
Example:
Current advance: £20,000 Amount repaid so far: £15,000 (75%) Outstanding balance: £5,000 Top-up offered: £15,000 New total outstanding: £5,000 + £15,000 (new total repayable for top-up) = £20,000
You receive £15,000 immediately, and your repayment percentage may adjust to account for the increased total amount owed.
Top-up vs. New Advance
Top-up: Adds to your existing advance without paying it off first. Single repayment stream.
New advance: Requires paying off your current advance completely before applying for a new one.
When to choose top-up: You need funding quickly and don't want to wait until current advance is fully repaid.
Top-up Eligibility
Not all customers qualify for top-ups. SAPI assesses eligibility based on:
Repayment Progress
Typically, you must have repaid at least 70% of your current advance before qualifying for a top-up.
Why? This demonstrates consistent repayment ability and reduces SAPI's risk.
Check your latest statement or contact [email protected] to confirm your repayment progress. If you've repaid 70%+, you may qualify.
Payment History
No missed or failed Direct Debit payments in last 30 days
No arrears status
Consistent collections (not irregular or declining significantly)
Business Performance
Your recent sales must support repaying both the existing balance and the top-up amount.
We assess:
- Sales trends (growing or stable, not declining)
- Repayment percentage capacity (can you afford a higher daily collection?)
- Overall business health
Time Since Last Advance
Typically, you should be repaying your current advance for at least 3-4 months before requesting a top-up.
Exception: If you've repaid 70%+ in less time, you may qualify earlier.
How Much Can You Top Up?
Top-up amounts depend on:
Current outstanding balance: Lower balance = larger top-up potential
Recent sales performance: Higher sales = larger top-up
Repayment history: Consistent, on-time collections = larger top-up
Total exposure: SAPI limits maximum total owed per business
Typical range: £5,000 - £50,000, though amounts vary widely based on business size.
How to Request a Top-up
Call +44 20 3868 4990 or email [email protected]:
"I'd like to request a top-up on my current advance. My account number is [your account number], and I'm interested in approximately [amount]."
Our team will:
- Check your eligibility
- Review your recent sales and repayment performance
- Provide an initial assessment
- Guide you through next steps
The Top-up Process
Step 1: Initial Assessment (1-2 hours)
SAPI reviews:
- Your repayment progress
- Recent sales data
- Payment history
- Creditworthiness update (if applicable)
Outcome: Pre-approval, decline, or request for more information.
Step 2: Receive Your Top-up Offer (same day)
If approved, you'll receive:
- Top-up amount: The additional capital you'll receive
- New factor rate: May differ from your original advance
- New total repayable: Your outstanding balance + top-up total repayable
- New repayment percentage: May increase to account for larger total owed
- Estimated timeline: Updated payoff estimate
Example Offer:
Current Outstanding: £11,000 Top-up Amount: £15,000 Top-up Factor Rate: 1.25 Top-up Total Repayable: £18,750 New Total Outstanding: £29,750 New Repayment Percentage: 18% (increased from 15%) Estimated Payoff: 10-12 months
Step 3: Accept or Decline (7 days)
Review your offer carefully. Consider:
Can you afford the new repayment percentage?
If you currently process £1,000/day in sales and your repayment percentage increases to 18%, you'll collect £180/day (up from £150). Can your business operate with £820/day available instead of £850?
Is this the right time?
Ensure you have a clear purpose for the funds and that additional debt doesn't strain cash flow.
Are there alternatives?
Could you wait a few more weeks to fully repay your current advance and get a standalone advance (possibly at a better rate)?
Step 4: Sign Amendment Agreement (15 minutes)
If you accept:
- You'll sign an amendment to your existing agreement (not a completely new contract)
- Your Direct Debit mandate continues (no new setup required)
- Total repayable amount updates to reflect new combined balance
Step 5: Receive Top-up Funds (1-2 business days)
The top-up amount is transferred to your business bank account, just like your original advance.
Step 6: Updated Repayments Begin
Starting the day after funds are received:
- New repayment percentage applies
- Collections continue daily via Direct Debit
- Your portal updates to show new balance and terms
How Top-ups Affect Your Repayment
Repayment Percentage Changes
Your repayment percentage may increase to account for the larger total owed.
Original advance:
- £20,000 advance, 15% repayment percentage
- Typical collection: £150/day on £1,000 sales
After £15,000 top-up:
- £29,750 total outstanding, 18% repayment percentage
- Typical collection: £180/day on £1,000 sales
Impact: You keep £30 less per day from sales, but you've received £15,000 in immediate capital.
Timeline Extension
Adding a top-up extends your repayment timeline.
Example:
- Original advance: 10 months estimated
- After 6 months, 75% repaid: 2-3 months remaining
- Top-up accepted: Timeline resets to 10-12 additional months
Total time: 6 months (already repaid) + 10-12 months (remaining) = 16-18 months total from original funding.
Single Repayment Stream
The good news: You don't have two separate repayments. Everything is combined into one daily collection.
Top-up Terms and Conditions
Factor Rate
Your top-up may have a different factor rate than your original advance, based on:
- Current risk assessment
- Your repayment performance (good history = better rates)
- Market conditions
- Amount requested
No Early Repayment Penalty
You can still pay off your combined balance early at any time. Request a settlement quote as usual.
Arrears Impact
If you enter arrears on the combined balance, standard arrears, legal fees and processes apply to the total amount owed. Please contact us for more information.
Alternatives to Top-ups
Before requesting a top-up, consider:
Wait and Apply for New Advance
Pros:
- Fully pay off current advance first (clean slate)
- Potentially better factor rate on new advance
- Lower risk of over-leveraging your business
Cons:
- Must wait until current advance is fully repaid
- Reapplication process (though faster for returning customers)
Business Credit Card or Line of Credit
Pros:
- More flexible borrowing (draw only what you need)
- Potentially lower cost if paid off quickly
- Separate from your payment-linked advance
Cons:
- May require personal guarantee
- Fixed monthly minimum payments (less flexible)
- Longer approval process
Invoice Financing or Trade Credit
Pros:
- No additional debt burden
- Leverage assets you already have (invoices, supplier relationships)
Cons:
- Only works for certain business models
- May not provide immediate capital
Frequently Asked Questions
Q: Can I request multiple top-ups?
A: Yes, as long as you meet eligibility criteria each time. However, there's a maximum total exposure per business.
Q: Will my original advance terms change?
A: Your original advance's factor rate doesn't change, but your repayment percentage likely will to accommodate the larger combined balance.
Q: Can I be declined for a top-up even though I was approved for the original advance?
A: Yes. Top-ups are assessed based on current performance. Declining sales, payment issues, or reaching maximum exposure can result in decline.
Q: Is there a limit on how soon I can request a top-up?
A: Typically, you should wait until you've repaid at least 70% of your current advance.
Q: Can I choose a lower repayment percentage on my top-up?
A: Repayment percentages are set based on affordability assessment. If you'd like to discuss adjusting yours, contact [email protected], but approval depends on your sales supporting the collection amount needed.
Q: What happens if I request a top-up but change my mind?
A: You can decline the offer with no penalty. Your current advance continues as normal.
How to Prepare for a Top-up Request
Increase your chances of approval:
Maintain Consistent Sales
Ensure your sales are stable or growing. Declining sales make top-up approval difficult.
Avoid Failed Payments
Keep your bank account funded to avoid failed Direct Debit collections.
Repay at Least 70%
Wait until you've made significant progress on your current advance.
Have a Clear Purpose
Be ready to explain how you'll use the top-up funds. Growth investments (inventory, marketing, equipment) are more favorable than covering ongoing losses.
Update Business Information
Ensure your contact information is current with SAPI—especially your email address for receiving statements and notifications. Contact [email protected] to update your details.
Need Help?
Email: [email protected]
Phone: +44 20 3868 4990
Business Hours: Monday-Friday, 9am-5pm GMT