Brightwheel has partnered with Stripe to offer eligible businesses access to fast, flexible financing. If you run a child care program and need working capital to cover seasonal gaps, facility costs, or program investments, brightwheel Capital is designed to help you access funds quickly and easily.
đĄ Get started: Visit your Capital page in brightwheel to see your eligibility. Detailed steps to apply can be found here.
How eligibility works
Eligibility is based on a number of factors, including your transaction volume and history from billing students and families for tuition and program fees with brightwheel.
Brightwheel businesses are automatically reviewed for eligibility on a daily basis, and you can review your eligibility within your account on the web, from the Capital tab.
Note: Processing payments through brightwheel is required to be eligible for brightwheel Capital. If you donât process payments through brightwheel currently, you can learn more and get started here: 3 reasons to use brightwheel billing features.
Understanding your offer
If eligible, youâll be able to see an offer in your brightwheel account and the offer will outline:
Financing amount: The dollar amount deposited into your bank account
Flat fee: The fee youâll pay over time. No other hidden fees, no compounding interest.
Total amount financed: The financing amount plus the flat fee
Payment rate: The percentage of your daily transactions processed through brightwheel that will be withheld to pay the total amount financed
Example offer:
Financing amount: $17,000
Flat fee: $1,700
Total amount financed: $18,700
Payment rate: 12%
If you accepted this example offer and were approved, you would receive $17,000 in the bank account associated with your brightwheel account, typically in as soon as 2 business days, along with your usual payout.
Stripe would then withhold 12% of your daily transaction total in addition to usual processing fees until youâve paid down the total amount financed of $18,700.
How payment works
Payment happens automatically*. A fixed percentage is deducted from each incoming tuition and family payment processed through brightwheel, according to your payment rate. The payment process begins automatically 1 to 2 business days after funds are deposited. The more payments you collect, the faster you'll pay.
đĄ Tip: Because payment is tied to a percentage of your daily student and family payments in brightwheel, slower months mean smaller automatic deductions. |
To pay faster or pay off your entire outstanding balance, you can make a manual payment by clicking the Make Payment button on your Capital page. There are no additional fees for early payment.
*Stripe Capital loans have a minimum amount due each payment period, and if the minimum amount that you pay through sales doesnât meet the minimum your account will be automatically debited the remaining amount at the end of the period. If your loan has a fixed payment, Stripe stops withholding from your Stripe sales when you meet the fixed payment amount. The payment terms for your offer will be detailed during the application process.
Minimum payment requirements
Youâre expected to pay a minimum amount every payment period, determined when signing up.
If payments deducted from your student and family billing transactions fall below the minimum in a given period, Stripe will automatically debit your bank account for the remaining amount needed.
You can always view your minimum payment amount in the Capital page or in your financing agreement. To see a daily summary of your payment progress, visit the Capital overview page.
Note: Brightwheel Capital is offered in partnership with Stripe. Stripe holds the financing agreement and manages payment. |
Get started
Visit your Capital page in your brightwheel account on a web browser, or visit our resource for more detailed steps: How to apply for program funding with brightwheel Capital.
Disclaimer: Stripe Capital offers financing types that include loans and merchant cash advances. All financing applications are subject to review prior to approval. Stripe Capital loans are issued by Celtic Bank. Stripe Capital merchant cash advances are provided by YouLend. See your Dashboard for the terms of your offer.