Lender Rates and Merchant Fees
Every Buyer Can Be Approved!
Cred Tech Ai's is not a lender, and we do not compete with any of the lender programs you may already be using. As such, you will start with the lenders you already use and then build your portfolio by adding new lenders and programs that we will suggest.
Lender Programs:
We have lenders in our portfolio that can offer financing for people with Excellent to Very Poor credit. We will outline each of those options with you during the onboarding process, and you decide which of the programs you want to make available. Once the lenders have been decided; we take your current lenders and add the new ones. Then we set up your platform so each Applicant can be pre-qualified with all of them through one simple application. Then the technology presents the link for the lender presenting the best option, and you just complete the process with that lender.
You Pick Your Fee Schedule
As a technology offering, Cred Tech Ai will program your Point of Sale financing platform based on how you want to set up your fee schedule. Since some lenders will pay you a fee for your loan referrals, you will probably want them shown as your first choices. But for people with very poor credit, the lender may want to charge you a fee to approve the financing. If that is the case, you pick the maximum fee you are willing to pay for any funding. For example; if the maximum fee you will pay on any transaction is 5%, we will program your platform so that all fees over that 5% are passed on to the Applicant/Borrower. Using this non-bias pre-screening; you submit a basic pre-qualification application. The technology will review all of the lenders in your portfolio, and present the lender that will rebate you the highest fee or cap the fee you have to pay at 5% (as shown in this example).