SELLING A SOLUTION THAT COSTS LESS THAN THE PROBLEM

Transcription

1 Initial Texas Application Packet For Credit & Processing Packet Consists Of: Application to Run Credit (1 page) Application for Processing (3 pages) Underwriting Checklist & What Slows Down Agent Getting Paid? (2 pages) SELLING A SOLUTION THAT COSTS LESS THAN THE PROBLEM

2 1 st American Leasing LLC Lease Application EQUIPMENT VENDOR NAME BUSINESS INFORMATION (Lessee information) LEGAL BUSINESS NAME DBA BUSINESS ADDRESS CITY/ STATE / ZIP BUSINESS PHONE FAX PERCENTAGE OF OWNERSHIP YEARLY BUSINESS INCOME YEARLY PROFIT IN BUSINESS WEBSITE BUSINESS CORPORATION PARTNERSHIP SOLE PROPRIETORSHIP LLC OTHER TYPE OF BUSINESS AGE OF BUSINESS FED ID # BANK NAME ACCOUNT # ROUTING# BANK PHONE # CONTACT EQUIPMENT TERM (MONTHS) LEASE PAYMENT PERSONAL INFORMATION OWNER/OFFICER TITLE HOME ADDRESS CITY / STATE / ZIP PHONE NUMBER CELL PHONE # DATE OF BIRTH PERSONAL SOCIAL SECURITY # DRIVERS LIC # NEAREST RELATIVE PHONE # NEAREST RELATIVE ADRESS DO YOU OWN YOUR OWN HOME? YES NO IF YES, HOW LONG? PERSONAL INCOME FROM BUSINESS ADDITONAL PERSONAL INCOME EMPLOYER YEARS EMPLOYEED ALT WORK PHONE# I HEREBY CERTIFY THAT ALL OF THE INFORMATION PROVIDED IS TRUE, CORRECT & COMPLETE. FOR THIS PURPOSE 1 ST AMERICAN LEASING LLC MAY UTILIZE CREDIT BUREAU S & REPORTING AGENCIES. SIGNATURE OF APPLICANT DATE

3 SPS Merchant Questionnaire 1. Length of time current owner(s) has/have owned this business: 2. Is this business owned by a large entity? [ Yes ] / [ No ] 3. Is there any foreign (non-u.s.) ownership in the company? [ Yes ] / [ No ] 4. Please state/describe the nature and purpose of your Company s business activity and provide a detailed description of the Products or Services that your Company sells: 5. Does the nature of your business require any regulatory licenses? [ Yes ] / [ No ] a. If yes, please explain & provide copies of licenses: 6. Does your business do any lending or extension of credit? [ Yes ] / [ No ] 7. Who do you offer or sell your Products or Services to? Circle all that apply: a. Consumers: [ Yes ] / [ No ] b. Businesses: [ Yes ] / [ No ] 8. How are your Products or Services offered or sold to your Customer? Circle all that apply: a. Storefront: [ Yes ] / [ No ] b. Online: [ Yes ] / [ No ] c. Outbound Telemarketing Sales: [ Yes ] / [ No ] d. Inbound Customer Initiated Telephone Sales: [ Yes ] / [ No ] 9. Does your business have a website? [ Yes ] / [ No ] a. If yes, please provide the website address:

4 10. Where is the ultimate destination of your settlement funds? [ United States ] / [ Other ] a. If not the U.S., then please explain: 11. Is there anything you would like to add that might help us properly underwrite this account and set up properly on the front end to help avoid any potential issues with the ODFI once the processing has begun? (i.e. Volume seasonality, unusually high volume days, high returns volume, ect.): [ Yes ] / [ No ] 12. Will you be using Electronic Check Guarantee (single check)? [ Yes ] / [ No ] a. If yes, please fill in the limits below: i. Maximum Individual Transaction: $ ii. Maximum Daily: iii. Maximum Weekly: iv. Maximum Monthly: $ $ $ Please check the box which best describes your business type: Auto Down Payment: [ONLY] [Not For Purchase of Vehicle] Max Check Limit: $1, One Time Flat Warranty Fee of 12.75% 90 Day Term General Retail / Other: Max Check Limit: $1, One Time Flat Warranty Fee of 12.20% 90 Day Term. Telecommunications Information: Are they using a phone line OR internet/ethernet line for the equipment? (CIRCLE ONE) I want this program to be used over Internet/Ethernet. I want this program to be used over Phone Line.

5 Business Credit Reference 1: Business Name Contact Name Title Phone Number Business Credit Reference 2: Business Name Contact Name Title Phone Number

6 You MUST acquire ALL information from that checklist before we will or can even run credit on the merchant. Underwriting Checklist Application (Legible SCAN AND ONLY NO PHOTOS) Bank Summary 1 Page (Most recently closed month SCAN & ONLY) Current State business license (Photo ok but No Glare) Federal Tax ID verification(photo ok but No Glare) Clear copy of driver s license of guarantor (cell phone photo ideal, NO FAXES Copy of Voided Business Check (VOIDED CHECK MUST MATCH THE BANK SUMMARY (MUST SHOW ALL BORDERS) Three photos of business location (Interior and Exterior, include SIGNAGE and Address) Underwriting Checklist For Corporate Guarantor Requires full copies of the two most recently filed tax returns (Tax Returns must show a profit for both years) Two years of Profit & Loss

7 FOR AUTOMOTIVE SALES: We will need a copy of the merchant s Master Finance Agreement with their current financing company signed by both parties. What is a Master Finance Agreement? A dealer has a contract with a lender stating that lender provide finance. For example: Westlake, Chase, Wells Fargo, etc. those agreements are signed by between the dealer and the bank. There is nothing sensitive in those documents. Document is on average 7 to 15 pages long. Typically a dealer will have 5 to 7 copies on hand. Remember We Are Working With Banks Here s What Slows Getting Paid Collecting the incorrect SSN from the Guarantor OR your handwriting is bad Not making sure the guarantor s voided check matches the Bank Summary Page. Credit references often are fake because agent cut corners and made up phone numbers. (All references are checked without exception). Pictures were poorly taken or no pictures of signage Illegible handwriting (that s a big one) Cell phone pictures of documents where your cell phone does not have scanning capability (Remember SCAN & if you can t read it nor can the bank) Make sure the New Concierge Application is COMPLETELY and ACCURATELY filled out.