Here’s what you need to keep your Float Charge facility and credit limit in good standing:
- Remain Eligible for Charge: Businesses must continue to meet Float Charge eligibility requirements* on an ongoing basis and qualify for their approved credit limit.
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Provide Financial/Bank Statements: Provide your bank and/or financial statements as requested, typically at intervals ranging every 1-6 months.
- Businesses approved through our expedited application process are required to provide monthly bank statements as part of ongoing monitoring.
- Credit Utilization Rate: Maintain a credit utilization rate of 70%* or higher (if unable to reach this, we can adjust it lower and increase it again when needed)
*Please note: Eligibility and utilization requirements are subject to change at any time.
These requirements help us monitor continued eligibility and ensure your credit limit remains appropriate for your business. Because Float does not have direct access to your financial information, we rely on the information you provide as part of our ongoing reviews.
Float reserves the right to pause credit or card spend in the event of a Terms of Service violation, failure to comply with the above requirements, or as a result of ongoing risk assessments.
If you have any further questions or wish to learn more about Float's Charge, read more HERE, reach out to your Account Representative, or contact support@floatfinancial.com detailing your inquiry.