This program was designed for Practices that are only doing one or two loans a month and therefore they do not want to be committed to paying a monthly subscription fee. This enrollment plan provides you with full access to our pre-qualification credit matrix including a complete credit score on each Applicant; access to all the patient financing companies (direct enrollment required), 34 personal loan companies that offer 100% pay-outs, four credit card programs that offer 0% starting rates, and professional review of each application by our Finance Managers.
With this pay per closing offer, we will invoice you for each loan closing with any company other than a Patient Financing company you are already enrolled with. The fee per closing is 7.5% of the loan amount or $375 (whichever is greater). PLEASE NOTE: If you decide to use a patient financing company for the funding, we WILL NOT charge your Practice this fee. but we still charge the patient our Loan Set Up Fee as shown below and collect it from you.
On our paper application that should be completed prior to your submitting an application online, we show each Applicant a $75 loan set up fee that we will charge if the Applicant is approved and they accept a loan offer. To make the collection of the fee simple, you will add the fee to the amount you request, and then it will be financed with the requested amount. As a result, it is paid directly to your Practice when the loan is funded. Then, after you have been paid, we will invoice you for our $75 fee. PLEASE NOTE: This should be a fee to the patient that is only collected from your Practice. But if you neglect to charge and/or add the fee, we will still expect to be paid the fee from your Practice on each funding.