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

# Fixed fee loans

> Draw a loan against your practice's approved limit for a flat, upfront fee.

A fixed fee loan lets your practice draw funds against a preapproved limit whenever you need extra cash flow. There's no interest and no recurring payments, just a flat, upfront fee shown to you before you confirm the draw.

## Get approved for a loan

Interested in enabling loans for your entity? Email
[contact@getlemma.com](mailto:contact@getlemma.com). Getting a limit approved
doesn't obligate you to draw from it — it's there for when you need it.

## How a draw works

[Owners](/guides/team-management#banking-permissions) can draw from an approved limit at any time from the **Loans** page. The draw flow walks through three steps:

1. **Amount** — enter how much you want to draw.
2. **Repayment** — review the origination fee and total repayment amount.
3. **Review** — confirm and choose the account to deposit the funds into.

Funds are deposited into your chosen account as soon as you confirm the draw.

### The fee

Each draw carries a flat origination fee: a percentage of the amount you draw, not an annualized interest rate. There's no interest and no additional fees. The fee is calculated and shown to you on the **Repayment** step, alongside a breakdown of the draw amount, origination fee, and total repayment amount, before you confirm.

### Repayment

Loans are due 30 days after you draw them. Lemma automatically debits the full repayment amount from your account on the due date — no action is needed from you.

### Early repayment discount

Repay a loan within the first 15 days and half of the origination fee is refunded.