Toast Capital connects eligible Toast customers with access to the funds they need to fuel their growth and tackle whatever comes their way. To check for pre-qualified offers, visit your Toast Capital dashboard.
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.
What Is a Toast Capital Loan?
Toast Capital connects eligible Toast customers with access to funding to meet their needs and fuel their growth. Toast Capital Loans have one transparent, fixed loan fee - no compounding interest or hidden fees. There is also no personal guarantee, no minimum credit score, and no credit score impact.
The application takes just minutes, and, once approved, the funds are deposited as soon as the next business day after signing your credit agreement, giving you access to funding when you need it.
Toast Capital Loan Basics
Toast Capital Loans are designed to be simple, providing access to fast and flexible funding to power your business.
Toast Capital Loan Eligibility
Toast Capital Loan eligibility is based on a variety of factors. Some of those factors include but are not limited to your processing volume (if applicable), time on Toast, and status of any bankruptcy filings.
Toast Capital Loan eligibility is evaluated regularly. Visit our Toast Capital: Loan Eligibility to learn more.
Toast Capital Loan Funding
Upon signing your credit agreement, funds will be disbursed to your bank account as soon as the next business day after signing your credit agreement.
Funds will be deposited into a verified bank account on file with Toast, Inc. where you receive your deposits. If you need to change your bank account on file, make any updates before you start your Toast Capital Loan application. Visit Update Your Bank Account to learn more.
Toast Capital Loan Repayments
Toast Capital Loans offer different target repayment terms ranging from 90 days to 360 days, depending on eligibility. Visit Toast Capital: Target Repayment Periods to learn more.
Loan repayments are automated as a fixed percentage of daily card sales processed through Toast (including any tips, taxes, service charges, etc.). This means repayment flexes with your sales volume so when sales are slower, you will repay less than on busy days.2
Your automated daily repayments will begin four business days after your funds are sent to your bank account.
Applying for a Toast Capital Loan
Before Applying for a Toast Capital Loan
To start, make sure to verify that the business information and ownership information we have on file is correct. Beyond that, our application asks for standard business and financial information — here are some documents that may be helpful to reference:
Most recent financial statements (e.g. balance sheet and profit & loss statement)
Current debt information (excluding operating expenses such as vendor bills or supplier payments business debt)
Pre-qualified Offers for Toast Capital
Note: These terms are an example of a pre-qualified offer and are not representative of an actual Toast Capital Loan.
Begin by logging into Toast Web and selecting Finance on the left-hand navigation bar. On this page, you’ll see your pre-qualification status and the maximum amount of funding that you are eligible to apply for if you have a pre-qualified offer.
If you’re pre-qualified, select View offer details to be brought to your Toast Capital Dashboard. Here, you’ll be able to build your customized pre-qualified Toast Capital Loan offer!
For more information see Customizing Your Pre-qualified Offer below.
Join the Toast Capital Loan Waitlist
If you visit the Finance page and find that you have no pre-qualified offers, don't worry! Eligibility is evaluated regularly, and you can join the waitlist in the meantime.
Select Join the waitlist to be alerted if one of your businesses becomes pre-qualified for a Toast Capital Loan. You can learn more about Toast Capital Loan eligibility criteria in this Support Center article, Toast Capital: Loan Eligibility.
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Customizing Your Pre-qualified Offer for a Toast Capital Loan
If your business has a pre-qualified offer for a Toast Capital Loan, you have the ability to customize this offer to be just right for your needs!
Wondering what the terms in your Toast Capital Dashboard mean, as well as some terms you might come across in your Toast Capital Credit Agreement? Let’s walk through an example.
Note: These terms are an example of a pre-qualified offer and are not representative of an actual Toast Capital Loan.
Start by entering your desired loan amount. You can also use the slider to see how the target terms and details change depending on the dollar amount you select.
Then, you can select the percentage of daily card transactions you prefer to repay your loan with — this is based on the target term of the loan. Let’s take a look at loan details that show up for each target term:
% of daily transactions: the fixed percentage of daily card sales (including taxes, tips, etc.) that will be held back and applied toward repayment of the loan. This “holdback” percentage is determined based on your business’ projected sales, total repayment amount, and target term selected.
Estimated $ daily: a simple average that assumes equal payments every day during the repayment term. Actual daily payments for Toast Capital Loans are based on a fixed percentage of daily card transactions processed through Toast and may vary from estimated amounts.
Target term: the expected timeframe for your loan to be repaid.†,††
Fixed fee*: the fixed loan fee* for your selected dollar amount and target term. The fixed fee is repaid over the target term of the loan. There are no compounding interest payments, application fees, or late fees. Smaller dollar amounts result in smaller fixed fees. Similarly, shorter target terms will have smaller fixed fees than longer target terms, assuming the same loan amount.
Total repayment amount: the total amount of your loan and fixed fee to be repaid.
Once you’re ready, select Apply to continue the self-guided application process.
Toast Capital Loan Application Status
You can view the status of your application by logging into your Toast Capital Dashboard. A Toast Capital specialist will reach out to you via email if there is additional information required to process your application.
If your Toast Capital Loan application has been approved, you will be sent a status update email with a link to your Toast Capital Dashboard. Select View and Sign Agreement to review your credit agreement. You will then be directed to a Docusign to sign it.
Note: Only a beneficial owner (owns 25% or more of your business) or a control person (executive officer, senior manager, or someone who performs similar functions) can sign a credit agreement on behalf of your business. If your business is a sole proprietorship, only the sole proprietor can sign. If your ownership has changed or if you have added a new control person, we will need to collect the new owner or control person's information to verify their identity.
If you are experiencing any trouble signing your agreement, or have additional questions about a Toast Capital Loan, please reach out to a Toast Capital Specialist.
Email a specialist at capital@toasttab.com.
Call a specialist at 617-209-3198 (available Monday - Friday from 9 a.m. - 5 p.m. ET)
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Additional Resources
*Excluding Florida Documentary Stamp Tax costs for Credit Agreements signed in Florida. See your Credit Agreement for details.
**Get funds in your account as soon as the next business day after application, subject to processing time and completion of your loan agreement. To reduce processing time, make sure that all of your business’ ownership information on file with Toast is up to date before applying and respond quickly to any requests for information. Once you receive a final offer and sign your credit agreement, you can typically receive funds in your account in 1-2 business days.
1 The maximum repayment term is 60 days following the end of the target repayment term. Any outstanding balance due at the end of the maximum term will be collected automatically via ACH.
2 If you select a 270- or 360-day target term, and you are provided with a Repayment Milestone Schedule with your Credit Agreement, then, every 30 days during the term, your total payments to date must equal the minimum amount disclosed to you. If they fall short, the difference may be collected via ACH.