This page describes Wunder’s Safe Harbor funding process, requirements, and when you can expect funds to arrive in your account. Note, for detailed information regarding Safe Harbor financing and diligence questions, please reach out to your Wunder point of contact.
The Wunder disburses capital once a week according to a regular schedule. This is designed to give borrowers like you certainty both around: (1) when to provide data / required information, and 2) when you can expect funds to arrive in your account.
What this means for you:
- Wunder always funds on Mondays.
- From the time the borrower completes the To-Do List, the entire disbursement process will take 14 days.
- Wunder aggregates all disbursements into weekly batches and initiates the funding process on Fridays. Please note that Wunder will not delay the batch for any single disbursement so any issues with bank verification or documentation could result in your disbursement being pushed into the next batch the following Friday.
Wunder’s Safe Harbor disbursement schedule is illustrated below.
Each stage of the schedule is described in detail below.
- Connect Bank Account. The borrower’s bank account must be set-up and verified in our system prior to releasing funds. The borrower must enter their bank account information in our user portal and initiate the verification process at least two Fridays prior to the funding date, though Wunder strongly recommends completing this step earlier. This will initiate two small micro-deposits into the borrower’s bank account which can take 1-3 business days. For more information on how to connect your bank account, see Bank Connect.
- Verify Bank Account. The borrower must verify receipt of the micro-deposits by logging back into the borrower portal and entering the deposit amounts. This step must be completed the Wednesday before the funding date (stage 6), though Wunder strongly recommends completing this step as early as possible. For more information, see Bank Connect.
- Complete Your To-Do List. To access your To-Do List, log into the borrower portal (see Using Your To-Do List for a step-by-step guide). This To-Do List will include all funding requirements as well as any outstanding ‘conditions precedent’ or CPs (see the Funding Requirements and Conditions Precedent sections below for more detail). This To-Do list will need to be completed 2 Mondays prior to your funding date.
- Disbursement Set Up & Approval. Once your To-Do List is complete, Wunder will process the data and follow up with any clarifying questions within 1-3 business days. Once all data and requirements have been fulfilled and approved by Wunder’s team, we will set up a disbursement request in the borrower portal and send it via email to the borrower for approval. Borrowers must approve the disbursement request in order to proceed. Approval requests typically go out on Thursdays.
- Initiate Funding Process. Every week, Wunder aggregates all approved disbursements into “batches”. The batches are aggregated on Thursday and initiated every Friday. Please note that Wunder will not delay the batch for any single disbursement so any issues with bank verification or documentation could result in your disbursement being pushed into the next batch the following Friday.
- Funds Settle in Beneficiary Account. From the time the batch is initiated on Friday, funds will take up to 5 business days to settle in the recipient’s account.
In order to set up the disbursement transaction, Wunder requires the following documentation. If some/all of these were previously provided as part of the diligence process, there is no need to provide them again.
- Borrower SS4/W9
- Photo of the Borrower Controller’s valid Drivers License (a Controller is a human that is primarily responsible for the Borrower’s finances). This must be a photo (scanned copies not accepted) with all 4 corners showing.
- Borrower Articles of Incorporation
- Completed Disbursement Input Form
- Beneficiary SS4/W9
- Supplier invoices
- Proof of supplier payment if seeking reimbursement for paid costs
CONDITIONS PRECEDENT (CPs)
CPs are documentation that have been discussed during the diligence process but may not yet have been available at the time of contracting. These may include but not be limited to the following:
- Executed Loan Contracts
- Executed warehouse receipts, including serial numbers for all equipment
- Collateral Access Agreements
- Warehouse Notification and Acknowledgement
- Collateral Assignment of purchase orders, supply contracts, logistics and storage agreements
- Property Insurance