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Paying an invoice with Extended Payment Terms — amortized schedule
Paying an invoice with Extended Payment Terms — amortized schedule

Learn how to use Extended Payment Terms

Anna Briggs avatar
Written by Anna Briggs
Updated over a week ago

If you're approved for Settle's Extended Payment Terms (EPT) financing option, you’ll be able to extend terms on most invoices*, regardless of the terms provided by the vendor.

When you utilize Extended Payment Terms with an amortized payment schedule, Settle will pay the vendor on your behalf and you'll be charged a number of installments over a selected period of time. Reach out to for additional extensions on a case-by-case basis.

*Please review your financing agreement for detailed restrictions and terms and conditions.

Extending payment terms on an invoice

  1. Log in to your Settle account and upload an invoice. (Check out this article if it's your first time.)

  2. Once you see the invoice in your Unscheduled queue, click to open it, then click Payment Options at the bottom right corner of the invoice screen.

  3. You'll see options to Pay now, Schedule, or Extend payment terms.

  4. Select which date you'd like Settle to pay your vendor, then hit Proceed.

  5. Review and accept the the Commercial Financing Disclosure Table and Business Loan and Security Agreement. This is the legal agreement between you and Settle that states:

    • It is Settle's responsibility to pay this invoice.

    • You agree to pay us back on the scheduled dates.

    • The principal and interest associated with the extensions, and that you agree to pay the principal and interest associated with the extensions.

  6. That's it—your payment is scheduled and good to go. Your invoice will be paid on the date you selected, and we'll debit your account 30 up to 120 days later.

  7. Seven days before your payment is due to Settle, we'll send you an email reminder that includes the option to extend another 30 days if you'd like (if available). You may do this an additional 3 times, for a total extension of 120 days.

Why can't I select the Extended Payment Terms option?

If you qualify for financing with Settle, we’ll provide you with

  • Your max terms, which include the maximum loan amount that can be used for one invoice or spread over many invoices

  • Your maximum allowable number of extensions

There are a few scenarios that may prevent you from being able to select the Extended Payment Terms option when paying an invoice (note that this list may not be comprehensive):

  1. Your Application is still being processed, and reasons could include:

    • Underwriting is still underway

    • You still need to sync your bank account(s) and accounting software (Settings > Integrations)

  2. Based on your Application, your business does not qualify for Extended Payment Terms at this time

  3. You’ve reached your max terms.

  4. You've reached your maximum allowable number of extensions.

  5. The invoice amount is less than the allowable threshold determined by your financing agreement.


What does it cost?

The cost of your loan is determined is determined in accordance with our underwriting policy and the creditworthiness of your business and will be shared to you by a member of our Customer Success team.

I just started using Settle and uploaded my first invoice. Can I extend payment terms right away?

Extended Payment Terms will be available as soon as Settle processes and approves your application. This requires you to link your bank account and accounting software in Settings > Integrations.

Underwriting is typically completed within a week of this sync. If your business is approved for financing, you’ll see the Extended Payment Terms option for all qualified invoices.

Will my vendor know that I am extending payment on their invoice?

Your vendor will not know that your payment has been extended; however, they will see that the payment is being processed via Settle.

Can I repay early?

Reach out to our Support team if you’d like to repay early and we’ll assess on a case-by-case basis as this option is not available for all financing options.

Questions? Get in touch —

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