Updated 6/5/2025. Originally published 9/26/2024.
Learning how to offer financing to customers opens the door to easier upgrades and fewer cash flow constraints. However, the many documents and details often involved in the financing process can make it seem overly complex. GreatAmerica simplifies this process. From approval to funding, we create a frictionless experience for you and your customers.
The Leasing Process at GreatAmerica
So, what does the GreatAmerica financing process look like? We break it down into four main steps.
- Equipment Confirmation and Finance Quote: The solution is configured, and monthly payment options are quoted.
- Credit Decision and Documentation: A decision is made based on your customer’s credit. We coordinate with you on document creation and signature collection.
- Order Fulfillment: Once your customer signs the agreement, you’ll then coordinate installation of the solution. After installation is complete, the agreement, funding invoice and any other supporting documentation, as needed, is sent to GreatAmerica.
- Confirmation and Funding: GreatAmerica confirms terms, installation, and acceptance. We then pay the funding invoice, commence the agreement, and begin billing your customer.
It really is that simple, and our team walks you through the entire leasing process. However, if you’re a details person, we get it! Read on for a deeper dive into each step.
Equipment Confirmation and Finance Quote
You’ve just finalized your solution, and the configuration has been confirmed. Now what? You are ready to get the financing process going! This starts with calculating your monthly payment options.
Quoting
At GreatAmerica, there are three quick ways to do quote monthly payments:
- Proposal Tool or PSA
If you use an integrated proposal tool, CRM, or PSA system, you can easily quote and present a monthly payment. Our integrations with tools like Salesforce, ConnectWise (CPQ and PSA), and QuoteWerks automate the credit submission process, making it simple to factor in a monthly payment based on the term and total cost. Check out our full list of integrations here: Technology Integrations to Simplify the Financing Process. - SnappShot®
For reps in the field, our SnappShot® mobile app is perfect for quoting monthly payments and submitting digital credit applications quickly from mobile devices. - info-zone™
Our customer portal, info-zone™, provides a user-friendly interface to create, save, and access quotes from anywhere with an internet connection. You can also use the online credit application to quickly submit information for the credit review process.
Submit an Application:
Once your customer decides to move forward with the financing quote, we need to understand their financial health and ability to repay. We require basic information to start:
- Business Name
- Business Address
- Business Phone Number
- Technology Solution Being Considered
- Total Project Cost and/or Total Monthly Spend
For the best turnaround time, we recommend submitting an app for your customer digitally. Check out our Digital Credit Application webpage for more details. However, if phone or email is more your speed, you can certainly communicate directly with your GreatAmerica team to begin the process that way.
RELATED: What are the Benefits of Digital Credit Application Entry?
Credit Decisioning and Documentation
Next up, we’ll need to evaluate credit and start preparing documentation.
Credit Decisioning
No matter how the application is submitted, we will always strive to deliver a quick credit decision. Most decisions are communicated within an hour, depending on transaction size. Of course, there may be instances where we need more information to make an informed decision and therefore need more time. Below we list an explanation of the possible outcomes of a credit decision:
- Credit Decision: Yes
If the credit application is approved, you will receive an automated approval letter via email. You can now move on to the next step. - Credit Decision: Pending
A pending credit decision simply means we need more information to move forward. For example, if we are unable to verify the legal name of the business or its address, we will reach out to you requesting assistance with that information. - Credit Decision: No
If we must turn down an opportunity you bring to us, we will personally let you know why it was declined with as much information as we can provide you.
Complete Documentation
Once the credit has been approved, we will coordinate with you on document creation. At this point, your customer’s signature will also need to be obtained on the agreement. When the customer has confirmed they will proceed, you are ready to create the agreement for signature. The approval letter is a helpful tool to make sure we have the correct legal name, desired signer, and any other supporting documents.
We can also provide support to you throughout the creation of the agreement. Through our portal, info-zone™, you can create professional agreements that can be printed for signature. Also, depending on your document and process, we may be able to offer the ability to create these documents and send them to your customer for electronic signature using our Doc-ease process.
If you’re using an integration with your CRM, much of the document creation process can even be automated! Lastly, if you provide us with the details, we can even help to create the agreement and send it to you via email.
A quick and efficient way to acquire signatures from your customers is to use Doc-Ease. With Doc-Ease, we can either send the documentation directly to your customer to sign digitally, or, if you prefer to handle this interaction, we can send the documentation to you. In this case, you would use the Doc-Ease delegate feature which allows you to assign a signature to your customer.
Order Fulfillment
Once GreatAmerica receives the signed agreement, the order fulfillment step of the financing process can begin. We rely on you to coordinate installation of the solution with your customer and proactively communicate to us when installation is complete. Once installation is complete, and all the details of the lease agreement have been verified with your customer, you can then send the funding invoice to GreatAmerica.
Confirmation & Funding
Finally, GreatAmerica will confirm the terms, installation, and acceptance. At this point, we will be all set to issue funding to you and commence the agreement. Automated Clearing House (ACH) is the fastest way we can provide funding, and it is our preferred method of payment to you. After this step, we are all set to begin billing your customer.
Our entire credit process, from submitting the application, to sending funding your way, is quick, thorough, and hassle-free. In fact, it’s not uncommon to get through this entire financing process in a single day. We understand when you offer financing to customers, our ability to do our job well will make it easier for you to do yours well, too.
Ready to Start Working with GreatAmerica? Get in Touch!
GreatAmerica simplifies business with streamlined billing, efficient sales tools, accessible team members, and time-saving integrations. Curious about how to offer financing to customers and enhance their experience? Click the button below to explore the possibilities.
