Why You Need Vendor/Store Functionality
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.
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Customers can apply for a loan for goods bought from a specific vendor / in a specific store
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
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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Required Steps
In order to use the functionality, it is necessary to:
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