Why GreatAmerica Needs to Approve the Technology Provider Blog Feature

By: GreatAmerica on September 6th, 2022

Why GreatAmerica Needs to Approve the Technology Provider

Updated 9/6/2022. Originally published 5/15/2019. 

Approval Process for Technology Providers to Offer Financing 

A common question Technology Providers that are looking to work with GreatAmerica ask is: “My customer is looking for credit, so why does GreatAmerica need to approve my business?” 

Understandably, it can be confusing when you receive our Customer Information Request form. Don’t we just credit underwrite your customers? Why do we need to approve the Technology Provider? There are a few reasons we need all that info! First, we want to make sure we are providing you with the best financing options for you and your customers. Second, it is our first line of defense against fraudulent activity. 

Building a Long-Term Relationship on a Foundation of Trust 

GreatAmerica was founded on principles that lead us to operate a little differently from other finance companies. Our mission is to “help our customers achieve greater success”. We do that by delivering finance solutions that help Managed Service Providers, Unified Communications providers, System Integrators and other Technology Providers stand out from their competitors. While other finance companies may look solely at the end-user as their customer, GreatAmerica focuses on helping you grow through a mutually beneficial relationship. 

Think about some of the trusted relationships with providers in your life – doctor, mechanic, contractor, lawyer, accountant, etc. You put your money, business, vehicle, home, and even health in their hands, trusting them to represent your best interests. Chances are you performed some research on your providers before taking them on to make sure that the quality of services they provide were in line with your needs, values, and expectations. 

Since we view our relationship with you as a true collaboration, instead of just a referral partnership, we want to ensure we are working with a company with similar goals and values. We encourage you to do your research on us too to make sure we’re the best financing provider for you. 

[Download: 7 questions to ask when selecting a finance company.] 

Six Reasons We Need the Information on a Customer Information Request Form 

The Solution Provider Information Request Form is part of our due diligence and onboarding process. Here are some of the things we look at, and why: 

    1. Tenure 

Knowing how long you’ve been in business helps us understand how well-established you are in your industry, how mature your sales and support processes are likely to be, and if your business has been through cycles. 

    2. Revenue 

Knowing your year-over-year numbers helps us better understand how to help. 

    3. Revenue Split and Hardware Breakdown 

Understanding where your revenue comes from helps us develop a finance offering that supports what you’re best at, while also identifying areas to increase profitability. 

    4. Vertical Focus 

We work with organizations and peer groups within a variety of verticals, which means we have access to tools and resources that can help you in your target market. 

    5. Product Line Information 

Letting us know what you sell helps us understand what we can expect to finance for your end-users. In addition, we have programs with several manufacturers and IT-focused companies that have programs designed to help you sell more and realize increased monthly recurring revenue or MRR. 

    6. Peer Groups and Industry Associations/Events 

We want to be where our customers are! It’s important for us to understand the challenges Technology Providers face on a regular basis. Associations and events are the perfect way for us to learn what tools you need and ways we can help you to be even more successful. 


[Technology Integrations to Simplify Financing: Browse Our Integrations] 

Using Customer Information to Build Custom Finance Programs 

When GreatAmerica develops a new relationship with a Technology Provider, we intend for it to be mutually beneficial. In fact, one of our guiding principles (or core values), is: ‘we build enduring relationships and are committed to mutual success.’ Each question in the Customer Information Request form provides clarity into each partner’s go-to-market strategy, specific products and services, and future growth plans. This insight helps us develop customized finance solutions that support your initiatives and long-term growth strategy. 

The Not-So-Pretty Truth: The Risk of a Relationship 

The other reason for the due diligence process is the risk associated with long-term relationships. When we begin working with you, we are both opening ourselves to risk. For us, the largest point in protecting ourselves against fraud comes from selecting our business partners and the information request form helps protect us from potential risk. We put a lot of trust in our Technology Providers because they are the ones establishing relationships with End Users, and then they bring us into those relationships to offer financial solutions. 

Similarly, you are opening your customer base to us. We don’t share your customer’s information with your would-be competitors, but that may not be the case with every financing provider. Therefore, it is a risk worth evaluating and doing research into your potential partners first. 

We hope you now understand why GreatAmerica needs to approve you as a partner first and then your customers. If you have any more questions on the topic, please do not hesitate to reach out and ask us at ITinfo@greatamerica.com.  


GreatAmerica is the largest independent, family-owned national commercial equipment finance company in the U.S. and is dedicated to helping manufacturers, vendors, and dealers be more successful and keep their customers for a lifetime. GreatAmerica was established in Cedar Rapids, Iowa in 1992 and now has offices in Iowa, Georgia, Minnesota, and Illinois. In addition to financing, GreatAmerica offers innovative non-financial services to help our customers grow.