It is important that partners use proper terminology. Liberis's legal team will need to sign off before launch, so using proper terminology ensures you can launch faster.
The key thing to remember is that revenue based finance is not a loan, so don't use any terminology that would suggest this is a loan.
| Don't Use | Use Instead |
|---|---|
| Loan, lending | Fund, funding |
| APR, interest rate | Fee, fixed fee |
| Repayment, repay, pay back | Payments, pay |
| Repay as you earn | Pay as you get paid |
| Loan, credit agreement | Revenue based finance agreement, purchase agreement |
| Loan, amount borrowed | Advance, advance amount |
| Lender | Funding provider, finance provider |
| Borrower | Customer, business, merchant |
| More credit | Renewal, further advance |
| Term | Estimated payback period |
Note that the business cash advance is considered a loan in Germany, so the terminology you'll use in Germany will differ.