Introduction

Loans on goods of all kinds are a popular and demanded branch of the banking activity which can be perfectly addressed with TurnKey Lender platform.

Each client can define a list of vendors (retailers) and shops (stores) that can use their banking products and create specific vendor/shop users that can create loan applications in a manner similar to back-office users.

Once all the settings have been performed:

• Customers can apply for a loan for goods bought from a specific vendor / in a specific store

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• Employees of the vendor / of a specific vendor’s store added in the user list can create, manage (within the given permissions), and monitor loan applications for their customers

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Vendor/Store Loan Application Flow

• Customer, Vendor or Store user creates an application for a specific loan product

• Vendor or Store users can send the application for approval

• Subject to the disbursement type of the credit product, an approved loan can be disbursed to the customer or to the vendor. In case of a virtual disbursement the funds are not actually disbursed, the customer is provided with the goods and pays them off to the Lender. Lender provides the funds to the vendor beyond TurnKey Lender application.

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For more details, see: