90 Day Deferred Payment Program

No Payments for 90 Days

90 Day Deferred Payment Program

If you wish to finance your company's equipment purchase under this program, click the "Finance Your Purchase" link below to apply.

Effective October 1, 2016 TimePayment-authorized Equipment Vendors and Brokers can start submitting deals under the 90 Day Deferred Payment Program using our new dealer portal, InfoHub. Simply log in and get started! If you're not an authorized Vendor or Broker, apply now to improve your year-end sales.

FAQ about the Deferred Payment Program

1What is the Deferred Payment Program?
Under the Deferred Payment Program, eligible transactions submitted to TimePayment for financing before the end of the year will not require any monthly payments for 90 Days.
2Does this program include both commercial and consumer lending?
This program is designed for commercial deals only.
3What industries are included in this program?
TimePayment is committed to helping as many businesses in as many industries as possible. However, we are not able to include startup restaurant or salon businesses (less than 36 months old) in this program, or equipment within the ATM / Bankcard space. Security monitoring agreements are not eligible, but security equipment purchases are. The restaurant equipment industry also has separate rates for the Lease-To-Own Program, but not for our standard Fair Market Value Program. Vendors and Brokers will see this separate Restaurant option in TimePayment Direct or InfoHub. The Water Quality industry is included within the Deferred Payment Program this year, but first payments will be due in January 2017, regardless of transaction date.
4What credit scores are eligible for this program?
Credit scores of T or better are included in the program. Q and U credits are excluded.
5When is the first payment due?
The first payment will be due 90 days from the date of the transaction completing (when Vendors and Brokers receive funding). For example, if a deal funds on October 20, 2016, the first payment will be due January 20, 2017. The only exception to the 90-day policy is the Water Quality industry. For water equipment, the first payment will be due in January on the calendar date corresponding with the date of the funding. For example, if a deal funds on October 20, 2016, the first payment will be due January 20, 2017. If the deal funded on December 20, 2016 the first payment will also be due on January 20, 2017. See the FAQ for Vendors & Brokers section below to learn more about transactions that involve prefunding.
6When does the program end?
The program ends on December 31, 2016. Any documents that were created prior to this date will be honored until January 31, 2017. Any documents received after that date will not be honored in this program.

FAQ for Equipment Buyers / Lessees

1What are the benefits of the Deferred Payment Program for me?
Get the equipment you need now, without having to make a monthly payment for 90 days. Let the ROI of the equipment help pay for itself through its use, and keep your extra cash for the holiday season!
2How do I qualify for this program?
When you apply for financing through you TimePayment-authorized Equipment Vendors or Lease Broker, let them know you'd like to apply to the Deferred Payment Program. If you are not currently working with an Equipment Vendor or Lease Broker, you can apply for financing directly using the "Finance Your Purchase" link above. It will automatically populate the promo code field of your application with the code "Deferred" so your Business Development Representative will know you want to be considered for this program. Please note, we are not able to include startup restaurant or salon businesses (less than 36 months old) in this program, or equipment within the ATM / Bankcard space. Security monitoring agreements are not eligible, but security equipment purchases are. The Water Quality industry is included within the Deferred Payment Program this year, but your first payments will be due in January 2017, regardless of transaction date.

FAQ for Vendors & Brokers

1How do I submit a deal for the Deferred Program?

Equipment Vendors and Lease Brokers can submit an application for the Deferred Payment Program via TimePayment Direct, or our new dealer portal, InfoHub.

If your deal is eligible, you will see the Deferred Program as an option featured in the "Programs" drop-down menu when creating your transaction documents using ReadyDocs:

Deferred Payment Programs Available in ReadyDocs

To confirm the Deferred Program documentation has been done correctly, check to make sure there is no first payment due on Page 1 of the Lease Documents:

Deferred Program Page 1 Lease Docs No Payment Due
2When is the first payment due on a deal that is prefunded?
The first payment will be due approximately 90 days after the initial fund date; the only exception is the Water Quality industry, and we generally do not offer prefunding in this industry. If the deal funds prior to December 31, 2016, the first payment will be due in January, 2017. If the deal funds after January 1, 2017, the first payment will be due the following month.
3Can I re-book a deal that already prefunded to use a deferred rate?
No, this program is for new deals that will prefund or final fund beginning on October 1, 2016.
4I have signed Lease Documents using standard rates; can it be funded under the Deferred Program?
No, new Lease Documents will have to be created through TimePayment Direct or InfoHub using the Deferred Program rate and documentation, and re-signed and submitted.
5What if a transaction has been submitted with the "Payable at Signing"? Can we still utilize the Deferred Funding Program? If so, what happens to the check?
If there is a “Payable at Signing” listed on page one of the Lease Agreement, the transaction will have to be re-documented. New Lease Documents should be created through TimePayment Direct or InfoHub using the Deferred Program rate and documentation, and re-signed and submitted.
6What should be included in the payable at signing?
Any security deposit required by our Credit Department.
7What should not be included in the payable at signing?
Processing fee or taxes. These amounts are included in the total funding amount, and become part of the financing.
8Should I include anything with my funding package to alert TimePayment that my customer wants the Deferred Program?
When submitting a funding package, please write “Deferred” on the top of the invoice so your TimePayment Funding Representative is aware that you intend to fund under the Deferred Program.
9When will the vendor and/or broker associated with a Deferred Program transaction receive funds?
The Deferred Program does not delay funding for the vendors or brokers. As usual, funds get distributed after verification of terms with the lessee. Or, in the case of pre-funding, vendors are paid a portion of the funds prior to the equipment shipping, and then the remaining funds are released after verification of terms with the lessee.
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