Your Novo Funding pre-approval offer has two expiry dates: 30 days to accept the offer and then an additional 180 days to make your first draw.
After receiving your pre-approval offer, you have 30 days to accept it before it expires.
After accepting the offer, you must make your first draw within 180 days or the offer will expire.
Additionally, inactivity in your Novo business checking account for 130 days or more will result in an auto-closure of your Novo account, ultimately removing your access to Novo Funding. Novo Funding currently requires you to maintain an open Novo business checking account. It is also important to keep in mind that your Available Funding Limit and Monthly Rate are subject to change over time due to macroeconomic factors, changes in credit history, and/or additional checking account history.