What does it mean to be pre-approved for Hopscotch Flow?
When you see that you’ve been pre-approved for Hopscotch Flow, it means you’re on the right track to accessing a working capital line of credit through your Hopscotch account — but there are a few steps to complete first.
What pre-approval really means
Pre-approval doesn’t mean you can access funds immediately. Instead, it means that based on your business information and setup, you’re eligible to unlock your credit line once you build enough transaction history on the platform.
Here’s how to move from pre-approved to fully activated:
- Start invoicing clients through Hopscotch
- Receive payments from unique clients
- Build a consistent and trustworthy transaction history
Once your history meets our internal thresholds, your pre-approval will convert to an active credit line you can draw from.
Your line of credit grows with you
Hopscotch Flow is powered by your Accounts Receivable (AR). Your available credit is calculated based on the total value of outstanding invoices you've issued through the platform.
As you continue to:
- Send more invoices
- Increase your AR balance
- Make on-time repayments
Your available credit line can grow automatically.
Summary
- Pre-approved means you're eligible to access Flow — after building transaction history
- Your credit line is based on your total outstanding AR
- The more invoicing and repayment activity you complete, the larger your credit limit can become
Need help getting started? Reach out to support@hopscotch.io — we’re here to help you grow!