Inviting Your Customers to Prequalify
Great, now that you’re approved to offer customer financing, let’s notify your upcoming customers so they can get prequalified. Prequalification could mean the difference between a maintenance call or new order and installation.
It’s important to note that prequalification is only good for 14 days before it expires, so only send the invitation to customers whose services will be completed within that timeframe. Customers are not required to prequalify in order to take advantage of financing.
Customers must have a mobile number on their client card to receive the invitation to prequalify.
Step 1: Navigate to the ThryvPay Tab, and click on the Financing tab or by clicking the “Send Finance Qualification Link” button on the top left of the screen.
Step 2: Start typing in your customer client card name (from your Thryv CRM), if you don’t have the client already in your CRM you may add it new to begin.
Step 3: Select the customer you want to invite to prequalify.
Step 4: If they do not already have a mobile number, please update their client card first, as that number will be how your customers prequalify and manage and track their financial application status. A mobile number is also required for security purposes.
Step 5: Click “Send”.
Step 6: Your customer will receive an invitation on their mobile device directing them to prequalify.
Step 7: Your customers’ prequalification status will display on the ThryvPay Financing tab. Displayed will be the customer name, prequalification status, date, expiration, and amount.
You will also receive email notifications and weekly summaries of all loan activity for your customers
Finance Email updates from Wisetack
- When the customer is approved for a loan
- When the customer selects and accepts terms
- When the loan is confirmed
- When the money is on its way
- Weekly transaction summary reports
Step 8: Once the job is complete, send the customer an invoice, and direct them to click on the “Finance with Wisetack” financing button at the bottom of the checkout page, they will be asked to enter their mobile number, and from there will be directed to finish their loan application.
- The customer can only be approved up to the amount of the invoice.
- Your customer can not finance more than the final invoice amount.
- If your customer was only qualified for a partial amount, they would need to pay the remainder of the invoice with a different payment method.
Step 9: IMPORTANT Your customer is required to “confirm” the loan prior to you receiving your payment. We recommend that you do not leave the premises or the phone call until you get confirmation that the loan is confirmed by the customer.
Step 10: You will receive your funds within 1 to 3 business days after loan confirmation
Prequalification Invitation - your customer's experience
Your customer will receive a text invitation, they simply click on the link, enter their phone number, verify their account via the security code, then complete their application details. The customer will receive their qualification status and amount within minutes.
Your customer is not obligated at this point to complete the loan. Prequalification is a soft credit pull only and will not impact your customer's credit.
Your customer will also receive email confirmation throughout the application process
Customer Prequalification Timeline