Repayment Frequency Options
Bridgement offers four repayment frequencies. You select your preferred schedule at the time of drawdown:
| Frequency | Best For |
|---|---|
| Daily | Businesses with consistent daily revenue (e.g., retail, hospitality) |
| Weekly | Businesses with weekly cash-flow cycles |
| Fortnightly | Businesses paid on a fortnightly basis |
| Monthly | Businesses with monthly billing cycles or project-based revenue |
Repayments are debited automatically via a debit order from your registered business bank account.
Online Repayment via Dashboard
- Log in to your Bridgement dashboard
- Navigate to the "Repayments" section
- View your outstanding balance, next scheduled repayment, and fee breakdown
- You can make additional ad hoc payments at any time to reduce your balance faster
Early Settlement
Bridgement actively encourages early settlement and rewards it with a fee discount:
- When you settle the full outstanding balance before the scheduled maturity date, Bridgement calculates the unearned portion of the fee
- A discount is applied to that unearned portion — so your total cost of finance is reduced
- There is no prepayment penalty of any kind
- Early settlement can be initiated from the dashboard at any time
What Happens if You Miss a Repayment?
If a scheduled debit order fails or a repayment is missed:
- Bridgement will contact you to arrange an alternative payment
- Additional fees may apply depending on your agreement
- Persistent non-payment may result in a negative report to credit bureaus
- In severe cases, Bridgement may pursue legal recovery of the outstanding balance
Best practice: If you anticipate difficulty meeting a repayment, contact Bridgement proactively at hello@bridgement.com or 087 551 0513 before the repayment date. Early communication significantly improves the outcome.
No Cancellation Fees
If you have an approved but unused standby facility and decide you no longer need it, you can cancel at any time with no cancellation fee — provided no funds have been drawn.
Best Practices for Repayment
- Match your repayment frequency to your revenue cycle — daily debit orders work well for retailers, monthly for service businesses
- Keep your business bank account in credit on scheduled debit dates to avoid failed payments
- Review your dashboard regularly to monitor outstanding balances and upcoming repayments
- Draw only what you need — the standby model means there is no cost to having extra capacity available
Frequently Asked Questions — How to Repay
Q: Can I repay Bridgement early without a penalty? Yes. There is no early settlement penalty. In fact, settling early earns you a discount on the remaining fee.
Q: How does the debit order work? Bridgement automatically debits your registered business bank account on the scheduled repayment dates according to the frequency you chose at drawdown.
Q: Can I change my repayment frequency after drawing? Contact Bridgement support at hello@bridgement.com to discuss changes to your repayment schedule. Flexibility is available subject to your agreement terms.
Q: What happens if my account doesn't have enough funds for a repayment? The debit order will fail. Contact Bridgement immediately to arrange an alternative payment and avoid fee accumulation.
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