---
title: Is Tongo providing a loan?
description: No. A Tongo commission advance is the sale of a portion of your pending commission at a discount, not a loan.
---

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1. [Updated Knowledgebase](https://help.gettongo.com/en/faq?hsLang=en)
2. [Getting Started](https://help.gettongo.com/en/faq/getting-started?hsLang=en)
3. [About Tongo](https://help.gettongo.com/en/faq/getting-started?hsLang=en#about-tongo)

# Is Tongo providing a loan?

## A commission advance is a sale, not a loan.

No. With a commission advance, you sell a portion of your earned, pending commission to Tongo at a discount, in exchange for cash before your transaction closes. Because it is a sale of your commission, it is not a loan.

**What that means for you:**

- You have flexible access to your approved advance amount: draw what you need, when you need it, up to that amount.
- Payment of the amount you drew plus fees is due within 10 days of your deal closing.

Your signed Commission Purchase Agreement sets out your exact terms. Find it under **Profile → Product Terms and Contract**.

**Still need help?** [Contact support](https://help.gettongo.com/en/faq/how-do-i-contact-support?hsLang=en).

- [Getting Started](https://help.gettongo.com/en/faq/getting-started?hsLang=en#main-content)

    - [About Tongo](https://help.gettongo.com/en/faq/getting-started?hsLang=en#about-tongo)
    - [Eligibility](https://help.gettongo.com/en/faq/getting-started?hsLang=en#eligibility)
- [Account & Security](https://help.gettongo.com/en/faq/account-security?hsLang=en#main-content)

    - [Your profile](https://help.gettongo.com/en/faq/account-security?hsLang=en#your-profile)
- [Commission Advance](https://help.gettongo.com/en/faq/commission-advance?hsLang=en#main-content)

    - [Applying](https://help.gettongo.com/en/faq/commission-advance?hsLang=en#applying)
    - [Your limit](https://help.gettongo.com/en/faq/commission-advance?hsLang=en#your-limit)
    - [Getting your money](https://help.gettongo.com/en/faq/commission-advance?hsLang=en#getting-your-money)
- [Fees & Taxes](https://help.gettongo.com/en/faq/fees-taxes?hsLang=en#main-content)

    - [Fees](https://help.gettongo.com/en/faq/fees-taxes?hsLang=en#fees)
    - [Taxes](https://help.gettongo.com/en/faq/fees-taxes?hsLang=en#taxes)
- [Repayment](https://help.gettongo.com/en/faq/repayment?hsLang=en#main-content)

    - [Paying Tongo back](https://help.gettongo.com/en/faq/repayment?hsLang=en#paying-tongo-back)
    - [Problems](https://help.gettongo.com/en/faq/repayment?hsLang=en#problems)
- [Managing Your Deals](https://help.gettongo.com/en/faq/managing-your-deals?hsLang=en#main-content)

    - [Closing changes](https://help.gettongo.com/en/faq/managing-your-deals?hsLang=en#closing-changes)
- [For Brokers](https://help.gettongo.com/en/faq/for-brokers?hsLang=en#main-content)

    - [Offering Tongo](https://help.gettongo.com/en/faq/for-brokers?hsLang=en#offering-tongo)
- [Contact Us](https://help.gettongo.com/en/faq/contact-us?hsLang=en)
- [Financial Benefits Platform](https://help.gettongo.com/en/faq/financial-benefits-platform?hsLang=en#main-content)

    - [Payments](https://help.gettongo.com/en/faq/financial-benefits-platform?hsLang=en#payments)

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