Q: How high is the approval rate? We have tried other programs but rarely get approvals.
A: The rate varies depending on factors such as market, industry, location, and asking amount. We can service the needs of Borrowers with composite credit scores as low as 600. Most conventional financing plans will not accept a borrower with a composite credit score below 680.
Q: What if I have questions or difficulties initiating a loan?
A: We provide live toll free customer service from 8:00 AM to 8:00 PM PST Monday through Friday and 8:00 am to 12:00 pm PST on Saturdays.
Q: How do I let my Customers know about the program?
A: We provide you with informative point of sale materials and signage. You can reorder these materials at no cost at any time.
Q: What if some of my Customers default on their loans? Do I have any liability for unpaid balances?
A: No. You have no liability or obligations whatsoever.
Q: The discount rate seems a bit high. How do you explain this?
A: You are, in effect, somewhat subsidizing the loan to your Customer. The discount rate is your participation in enabling the loans to be made to credit-challenged Customers and others with no liability or recourse to you. Much like the cost of a credit card payment, you can certainly include and recover this cost in your calculation of the amount you wish to charge for the product or service. We will provide you a merchant calculator that you can use to build the discount cost into financing and provide your customer with an estimated monthly payment quote.
Note - It’s important that you understand that you can build the discount cost into the financing! It's the monthly payment that could make or break a deal, not the price for finance customers.