Elective Approval Guidelines for Merchants
We are excited to offer flexible financing options to your customers! To ensure a smooth experience for both you and your customers, we have outlined our general approval guidelines below.
These criteria are designed to help you identify which customers are most likely to qualify for Elective financing.
Eligibility Criteria
While every application is reviewed individually, the most successful applicants typically meet the following requirements:
- Location: Applicants must reside in Canada or the United States. Note: Loans are currently unavailable to residents of California, pending license approval.
- Income & Employment: Applicants must have a steady annual income. generally, individuals with full-time employment will meet our minimum income requirements.
- Credit History: The minimum credit score required depends on the specific financing program in place for your account. If you’d like to confirm the details of your financing program, please reach out to our team for clarification.
- Debt-to-Income Ratio: Customers should not carry excessive monthly debt. In general, existing debt payments should not exceed the majority of their monthly income.
Please Note: These guidelines are subject to change and are intended to serve as a general reference. Meeting these criteria does not guarantee approval, as all loans are subject to final underwriting review.