8fig FAQs
We compiled a list of questions our sellers often ask us about their 8fig Growth Plan, and we answered them all. You can find a detailed walk-through of your 8fig funding offer (aka Growth Plan) here:
1) Where can I find my offer?
To review your offer, please log into your 8fig account and navigate to the “Plans” tab at the top of your dashboard. There you will see a Plan name. Click on your Plan name and follow the prompts to navigate to the full details of your Growth Plan offer. You can also find your offer in the “Notifications” tab. You’ll get an email from us when your offer is ready, so you’ll know when to log in.
2) How long does it take to get an offer?
It takes 4-7 business days to receive an offer. This depends on whether you have connected your store and bank account and if any clarifications are needed to complete your review. If any questions or concerns arise, the Customer Success team will reach out to you directly to ensure the process runs smoothly.
3) Can I pay off my Growth Plan faster than the terms offered?
Yes, you can make additional payments or larger payments. Simply submit a one-off request or Change Request, and we will adjust your Remittance Schedule to better fit your current needs.
4) Can I delay payments if sales are slow or stock is late?
Yes, this can be done with a Change Request and supporting documentation as needed. The entire Plan will be adjusted to fit your request.
5) Do you pay my suppliers?
No, we only provide funding directly into the bank account we have on file. As the seller, you pay your suppliers and other expenses yourself. This is also true of Participation, which you pay directly to your supplier.
6) When will I receive funds?
You can expect to receive funds on the first date listed in your Remittance Schedule.
7) What do I need to do once my Plan is activated?
You don’t need to do anything once your Growth Plan is activated. Just sit back and wait for your funding to arrive in your bank account according to your Remittance Schedule.
8) What if my account is activated after the start of my first line?
If your Growth Plan is activated after your start date, all funds past due will be sent the Thursday following your activation.
9) How is the Cost of Capital paid back?
This flat fee is broken up into payments throughout the entirety of your Plan once remits begin.
10) Can I adjust the dates in my remittance schedule and/or the balances?
Yes, if you need to adjust the total funds requested and/or the dates originally submitted, you can do so once your Plan is activated. You can edit all of your Lines as needed with a Change Request.
11) Will my Cost of Capital fee ever differ from the amount I see in my offer?
Yes, depending on the changes requested down the road, the Cost of Capital may change, and the amount will differ based on those specific changes.
*If you still have questions, feel free to contact us via email or book a call directly with our Customer Success team.