Virginia Financing Disclosure FAQ

Note: this FAQ applies only to Virginia customers.

Why am I getting this form?

  • Certain states, such as Virginia, have laws that require a disclosure to be provided to borrowers regarding commercial financing transactions, such as Toast Capital Loans.

  • This disclosure requires information to be provided to you, such as details about your loan repayment amount, cost of financing, and payment frequency.

  • Toast Capital is required to deliver these disclosures and obtain your signature on them. Please sign and date the disclosure forms provided with your Loan Agreement.

What is the “Total Amount of the Sales-Based Financing” on my form?

  • For Toast Capital Loans, this is the same as your Total Repayment Amount, which is your Disbursement Amount (the amount of funding that was disbursed to you) plus the Finance Charge (the fixed fee for your Toast Capital Loan).

What is the “Finance Charge” on my form?

  • This is the fixed fee for your Toast Capital Loan. 

  • This fixed fee will not change — i.e. it won’t increase if you take longer to pay off what you owe.

What is the “Estimated Number of Payments” on my form?

  • This is the estimated number of payments you will make in connection with your Toast Capital Loan.  Because you will make daily payments, this number represents the target repayment period of your Toast Capital Loan, in days.

  • Additional details can be found in the Payment Schedule section of your account dashboard.

What is “Broker Compensation”?

  • There is no broker involved with a Toast Capital Loan.

Is there a prepayment discount?

  • No, if you decide to repay early, you will still have to repay your total outstanding balance.

Toast Capital Loans are issued by WebBank. Loans are subject to credit approval and may not be available to borrowers in certain jurisdictions. WebBank reserves the right to change or discontinue this program without notice.