Application Details Page
Application Details Page Features:Application Details Pages will help keep you organized, informed, and empowered. Find everything you need from the latest updates, to next steps for each deal in one place.
Account Information:The top portion of the Application Details Page contains all the basic information about this account, such as the Application Number (the number listed next to "Account Information"), the customer’s contact information (Lessee Name and Address, as well as any Guarantors), and Product Type (e.g. Commercial Lease To Own). It also displays the current Status, Approval Amount, and Credit Expiration Date.
Application Status Definitions:
- Credit Review: We have received the application and it is currently being reviewed by our credit team for approval. Turn-around time is typically 2-4 business hours.
- Approved: Your customer has been approved for a lease. Check your “Approval Conditions” and “Next Steps” in the “Messages from TimePayment”.
- Lease Received: The completed Lease Package has been received by TimePayment and is being reviewed. Turn-around time is typically 2-4 business hours. Check your “Next Steps” in the “Messages from TimePayment".
- Verification: Ready for or pending TimePayment verification.
- Lease Booked, Not Funded: Final documents are signed and accepted, but funds have yet to be dispersed.
- Lease Booked: Final documents are signed and accepted, funds have been dispersed.
- Expired: Applications expire automatically after 180 days. If the customer would like to move forward with a transaction associated with an expired application, we will require that you submit a new application and a new credit review.
- Not Approved: This application was not approved as submitted. If it is a business applying for a “business-alone” lease, try submitting again with a personal guarantor that is an office of the company. If it is a consumer lease, an additional guarantor would have to be a spouse or blood relative.
- Canceled: This lease application was canceled by the customer, or dealer (broker or vendor), or TimePayment.
Messages from TimePayment:
The Messages from TimePayment section of the Application Details Page is where to look for important updates from TimePayment that will help you through the transaction process:
- Approval Conditions: This is where we will tell you details on the approval conditions for this application. For example, if the approval amount is different than the amount requested, or if we require proof of business, a security deposit, direct debit payments, signatures from personal guarantors, etc.
- Next Steps: Rely on “Next Steps” to coach you through the process. See when it’s time to Create & Send your Lease Documents. Once the completed Lease Documents are received, this will tell you what follow up items are needed to process the deal. Examples include an invoice, payable at signing, or missing signatures/pages of the lease.
The Application Notes section of the Application Details page is a feed of all our system activity notes on the account, with the most recent activity at the top if the list.
This includes a history of approval conditions or messages from TimePayment, any documents uploaded, or change requests made through InfoHub, or when our team reviews the application. Perfect for refreshing your memory on the history of a customer's account.
If there has been a lot of activity on the account, you will notice multiple pages you can click through by clicking the little boxes with numbers in them at the bottom-left of the Application Notes section.
The Applicatin Documents section keeps a record of all the documents you have uploaded to InfoHub using the "Submit Documents" or "Request Upgrade or Changes" buttons on the Application Details page.
The record includes the date and time the files was uploaded (Eastern Time), the File Name, the Document Type, and which user uploaded it. If you have not uploaded any documents for a transaction, you will not see this section on the Application Details Page of that account.
What Would You Like To Do Next?:
This section of the Application Details Page features buttons for the available next steps for the transaction. For example, you won't see the "Create Lease Documents" button until an application is approved and you are able to create documents.
Application action options include:
This option brings you to our Lease Quote Tool. If you need to estimate your customer’s monthly payment, funding amount, or monthly factors, use this tool.
Create Lease Documents:
Create final lease documents for your transactions in minutes, not days, with our ReadyDocs solution. Create digital (Smart PDF) lease documents, and send to your customer for digital signature and automatic delivery to TimePayment upon completion.
If you need to submit any documents related to your transaction to TimePayment, you can now easily do this from the Application Details Page with the “Submit Documents” button. No more need to try to manage paperwork for multiple transaction from your busy inbox.
Request Upgrade or Changes:
If you need to request a credit upgrade or increase, or change the equipment listed in the lease, you can do so easily through the “Request Upgrade or Changes” button on the Application Details Page. You’re given the opportunity to give a description of the needed change or upgrade and attach any supporting documentation associated with the request.
When you click the “Tax Estimation” button from an Application Details Page, it will open the Tax Estimation Tool pre-populated with the details of the application and the taxes already calculated for you with just a click of the button, no manual data entry required! Use this tool to calculate the taxes you will need to add to your “Total Funded Amount” when you Create Lease Documents for this transaction.
If you wish to cancel the customer’s application, you can do this from the Application Details page by clicking the “Cancel Application” button. If you do not cancel an application, the credit approval will automatically expire within 90 days after being submitted.