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These FAQs may not apply to you if you accessed this link from outside of Toast Web. If applicable, you will receive a Repayment Milestone Schedule before you sign your Credit Agreement.
Toast Capital Loans are issued by WebBank. Loans are subject to credit approval and may not be available in certain jurisdictions. WebBank reserves the right to change or discontinue this program without notice.
Toast Capital Loans are generally repaid by holding back a percentage of your daily card transactions processed through Toast.
For Toast Capital Loans with a 270- or 360-day target repayment term, you must have repaid a certain minimum total amount every 30 days after repayment begins, each of which is called a "repayment milestone." The "Repayment Milestone Schedule" outlines the total amount due by each date.
If you haven't met the repayment milestone for a given 30-day period, the difference between that and the amount you repaid as of that date will be ACH debited from your bank account to help you make more progress toward repaying your loan. This ACH payment will be initiated around four days after that repayment milestone date.
This is not applicable to Toast Capital Loans with a 90-day target repayment term.
You can view your Repayment Milestone Schedule, which will show the minimum total amount that you must have repaid by each corresponding date, by visiting the Burndown Report for your Toast Capital Loan and clicking on Repayment Milestone Schedule.
If you haven't met the repayment milestone for a given 30-day period, the difference between that and the amount you repaid as of that date will be ACH debited from your bank account to help you make more progress toward repaying your loan.
However, we know businesses may face slow seasons, unexpectedly bumpy sales, and other cash flow issues. If you're experiencing issues, please reach out to a Toast Capital Specialist at capital@toasttab.com or call 617-209-3198. Our customer service hours are Monday - Friday between 9am - 5pm ET.
The Repayment Milestone Schedule helps you progress toward repaying your loan and also limits the amount that may be due at the end of your loan if you fall significantly behind. If you wish to make additional payments, please contact capital@toasttab.com.
No, because a minimum monthly payment is generally a fixed amount that you must pay each month, whereas a repayment milestone represents the total cumulative amount that you must have repaid by each corresponding date as outlined on your Repayment Milestone Schedule.
If your repayment is tracking behind an upcoming repayment milestone three days before it is due, you will receive a notification and email with an estimated maximum ACH amount, which is the difference between that period’s repayment milestone and the total amount you have repaid to date. The actual ACH amount will most likely be lower, as it will reflect any upcoming automated daily loan repayments leading up to the end of that 30-day period.
If you are able to meet or exceed your repayment milestone by that date, there will be no ACH payment initiated. If you have not met that amount, you will receive a notification of the exact amount for the ACH payment, which will then be initiated around four days after the end of that 30-day period. This milestone debit payment will appear on your bank account transaction activity or statement as an ACH debit transaction initiated by Toast Capital.
Any ACH payments made toward your loan repayment do not impact your daily holdback rate, and your automated daily repayments will continue until your loan is repaid, or the maximum repayment term is reached.