How do bank deposit earnings work?

At Level, we work with you to understand the full picture of your business and use that full picture to qualify you for an Advance.

At Level, we work with you to understand the full picture of your business and use that full picture to qualify you for an Advance. For example, you may work on apps that are not yet partnered with Level, or you may accept direct payments from your customers via platforms like PayPal or Zelle. Level will factor these earnings in when qualifying you for an Advance. In order to do this, as part of your Level Advance application, you will link your bank account and identify which deposit transactions we should look for as business income.

If you qualify for and accept an Advance, these deposit transactions will also be included in your repayment. For example, if you identify “Zelle” transactions as business income in your Advance application, these earnings will be used to qualify you for your Advance amount. If your repayment percentage is 15%, 15% of all “Zelle” deposits to your linked account will be billed to you for repayment for your Advance.

Because of this, we recommend that if you designate a platform (e.g., Zelle) as a source of business income, you use it for only business income. If you need to accept a personal payment through one of your business income platforms, contact payments@levelgoals.com.