Unlock your potential with small business financing

Access fast, flexible working capital as your business grows with Novo. Apply for Novo’s checking account to get started.

Eligible customers with at least 6 months of Novo banking history can apply for Novo Funding. Merchant Cash Advance products and services are offered by Novo Funding LLC (“Novo Funding”), a wholly owned subsidiary of Novo. Merchant Cash Advances require a Novo checking account.
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  • Get up to $75,000
  • Access available funds Instantly
  • Monthly factor rates as low as1.5%
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Fast access to funding

Apply online for Novo Funding risk-free in less than 10 minutes. Get a response within 24 hours.

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  • Immediate Availability

    Instantly access your approved funds in your Novo checking account. Put that capital to work right away.

  • Revolving Access

    Your Novo Funding balance continues to be available to you as you complete your monthly repayments, unlike a loan.

  • Clear Repayment Plan

    Use only what you need, as you need it. Get a 6-month repayment schedule with the option for early repayment at no additional cost.

Frequently Asked Questions

How long does it take to get approved for Novo Funding?

The Novo Funding application can be completed in under 10 minutes anytime, anywhere. Novo will complete its review within 24 hours so you can get right back to running your business.

What type of financing does Novo Funding offer?

Novo Funding offers merchant cash advances.

How is a merchant cash advance different from a loan?

The blueprint for a merchant cash advance is simple. Once a small business is approved, a lump sum is deposited into their business checking account. The business makes a monthly repayment for a set amount of time. The payback amount will consist of the amount drawn, known as your Principal, plus a percentage-based fee, known as your Monthly Rate. Monthly Rates vary based on a number of factors including your business’s industry, years in operation, financials, transactions, and credit score.

What fees are charged?

Every Novo Funding customer is different, but you can find your specific fee structure inside your personal Novo Funding dashboard. We provide Monthly Rates as low as 1.5%.

Do I have to draw the funds by a certain date?

No, your Available Funding Limit does not expire. However, inactivity in your Novo business checking account for 130 days or more will result in an auto-closure of your Novo account, ultimately removing your access to Novo Funding. Novo Funding currently requires you to maintain an open Novo business checking account. It is also important to keep in mind that your Available Funding Limit and Monthly Rate are subject to change over time due to macroeconomic factors, changes in credit history, and/or additional checking account history.

Find out if you qualify today

See how much funding your business qualifies for risk-free, and open your new Novo business checking account today.

Get Funding