> ## Documentation Index
> Fetch the complete documentation index at: https://docs.nextlevelmca.com/llms.txt
> Use this file to discover all available pages before exploring further.

# How do renewals work?

> When an advance is flagged Renewal ready, how to find those advances, and how to start a renewal deal for the merchant.

A merchant who has paid down a good share of an advance is often ready for more funding. NextLevel MCA flags those advances as **Renewal ready** so you can find them, and lets you start the renewal deal with the merchant's details already filled in. Seeing advances needs the **View Advances** permission (admins and managers by default).

## When an advance is Renewal ready

An advance is **Renewal ready** when the share of its payback amount paid so far reaches the renewal threshold, and it isn't **Paid off**. "Paid so far" is the **Paid in** figure you see on the **Advances** page:

* **On track** with no payments recorded: an estimate from the funded date, the payment amount and how often it's paid. It grows every payment day.

* **Payments recorded** (for example by an integration connected through the API): the recorded total.

* **Missed payments** or **Defaulted**: the recorded total, which is 0 if nothing was recorded.

* **Paid off**: the full payback.

* **The threshold** is 50% unless an admin changes it under **Settings → General → Preferences → Advance renewal threshold**. It applies to every advance in the workspace.

* **One advance can have its own threshold.** Open the advance, and on its **Overview** tab under **Renewal Settings**, enter a percentage in **Threshold Override** and click **Save**. Leave it empty to use the workspace default.

**Renewal Settings** also shows the advance's current status: how much is paid against its threshold, and either **Ready** or how many points to go.

<Info>
  The same figure is used everywhere: the **Advances** page, the advance's details, the deal's **Advances** card, the business page, CRM workflow actions, the API and webhooks. When it's an estimate, the advance's details say so under **Payment Progress**.
</Info>

## Find renewal-ready advances

* **Advances page:** a **Renewal** pill shows next to the status of each ready advance. Use the **Renewal: any** filter and choose **Renewal ready** to list only those.
* **An advance's details:** a **Renewal Ready** badge on its **Overview** tab.
* **The business page:** the **Renewal Outlook** card shows the merchant's active advances, the outstanding balance, how many are ready now, and roughly how many days until the next one is.

## Start a renewal deal

<Steps>
  <Step title="Open the business">
    Go to **Businesses** and open the merchant, then click **New deal**. (Or click **New deal** on the **Deals** page and pick the business under **Who is this application for?**)
  </Step>

  <Step title="Check the application">
    The application opens filled in from what's on file: the business's legal name, DBA, EIN, phone, address, entity type, industry and start date, and each owner's name, email, phone, date of birth, address and ownership. Social Security numbers aren't stored in full, so enter them again.
  </Step>

  <Step title="Keep 'This is a renewal' ticked">
    When the business has a renewal-ready advance, **This is a renewal** appears, ticked, with a line such as *Renews the Acme Funding advance: 62% paid, \$18,400 left.* Leave it ticked to link the new deal to the deal and advance it renews.
  </Step>

  <Step title="Create the deal">
    Finish the application as you would for any deal, see [Creating a deal](/help/create-deal).
  </Step>
</Steps>

What doesn't copy over: documents and bank statements, offers and submissions stay on the original deal. Ask the merchant for fresh statements, see [Requesting documents](/help/request-documents). The original deal and advance aren't changed.

When you submit the renewal, the lender funding the merchant now shows a **Current funder** pill on the **Submissions** tab. It's often the likeliest approval for a renewal. See [Submitting to lenders](/help/submitting-to-lenders).

## Common problems

<AccordionGroup>
  <Accordion title="An advance shows a high Paid in but no Renewal pill">
    Check the threshold under **Renewal Settings** in the advance's details: the advance may have its own **Threshold Override** above the workspace default.
  </Accordion>

  <Accordion title="Paid in dropped after payments were recorded">
    Once payments are recorded against an advance, **Paid in** shows the recorded total instead of the schedule estimate. If the integration recorded only some of the payments, the figure is lower than the estimate was.
  </Accordion>

  <Accordion title="'This is a renewal' doesn't appear on the application">
    The business has no advance that is renewal-ready yet. You can still create the deal; it just isn't linked as a renewal.
  </Accordion>

  <Accordion title="A paid-off advance isn't flagged">
    Paid-off advances are never Renewal ready. Start a new deal for the merchant from the business page.
  </Accordion>

  <Accordion title="I can't change the workspace threshold">
    Only admins see **Settings → General → Preferences**. Ask an admin, or set a **Threshold Override** on the advance itself.
  </Accordion>
</AccordionGroup>


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