00:00.000 --> 00:01.230 Johny Fernandez: What is a renewal? 00:02.040 --> 00:05.880 Sean Murray: What is a renewal? A renewal is just additional 00:05.880 --> 00:11.160 funds. So if you're a lender or funder and your merchant, or 00:11.160 --> 00:15.420 customer needs additional funds, and they haven't satisfied the 00:15.420 --> 00:18.360 current outstanding obligation, you just renew them by giving 00:18.360 --> 00:19.290 them additional funds.