Vendor FAQ

Find answers to some of the most common questions we get from Vendors like you.

No matter where you are in the process of becoming a TimePayment-authorized Vendor or submitting deals, we've got the answers to all your questions.

Initial Vendor Program Application Process

1How do I become an authorized TimePayment Vendor?
You can either complete an online application or call us at 1-877-868-3800 (select option #2 when prompted). We will respond with a decision to your application within 48 hours of receiving your application.
2Are there fees involved?
No, there are no signup fees of any kind to join our Vendor Program and offer your customers a TimePayment Monthly Payment Financing option.
3Why was my application to become an authorized TimePayment Vendor declined?

There are several reasons your application may have been declined. Some of the most common causes are:

  • Your business has been operating for less than one year
  • Your credit did not meet our minimum required guidelines
  • Your business is not in good standing with the Secretary of State
4What should I do if my application to become an authorized TimePayment Vendor was declined?
Contact Credit Services at 877-868-3800 x1611 to discuss your specific circumstances with a representative. You may simply need to submit additional documentation to TimePayment for your application to be approved.

Submitting New Deals

1Once I am an authorized Vendor, how do I begin submitting deals?

Once you become an authorized Vendor, we will send you a Welcome Kit via email. This will contain your login credentials for our online application tool, TimePayment InfoHub™, and invite you to attend a free training webinars.

If you need assistance, contact our Transaction Support Team to submit your customer’s financing applications over the phone.

2How do I obtain additional logins to my TimePayment InfoHub™ account?
Please Email our Client Services Team with the first and last name, job title, email address, and phone number for each of the employees you wish to have accounts setup for.
3What size transactions will TimePayment support?
TimePayment products support a broad range of transaction sizes. We regularly fund large equipment sales up to $100,000, as well as smaller sales as low as $500.
4How quick is your credit decision process for new deals?

You can receive a credit decision within 2 minutes for transaction less than $10,000 when you are an approved TimePayment vendor and submit an application through our online system, TimePayment InfoHub™.

For transactions above $10,000 you will receive a decision within 4 hours.

Please Note – Applications submitted through TimePayment InfoHub™ need to be completed accurately with your customer’s personal information to meet these turn-around times. If you create lease documents for the deal, and the Vendor does not get approved, the deal will not be approved and will need to be resubmitted with a new Vendor.

5When does my customer’s credit approval expire?
Credit decisions are valid for 30 days. If it takes longer for the transaction to be completed, we will rescore the credit for you.
6Can my customers take their credit approval and shop elsewhere?
No, they cannot. Credit decisions are transaction specific to your deal, enabling you to offer programs unique to your selling situation.
7Can a non-US citizen personally guarantee a lease / transaction?
Yes, we do accept non-US citizen applicants if you can provide government-issued documentation that shows you are authorized to be in the US for the full term of the transaction.
8What additional information is required for my Sole Proprietor customers’ applications?

TimePayment requires proof of business on all sole proprietors. Acceptable proof of business includes:

  • A business license
  • Secretary of State listing
  • Previously filed tax return – Schedule C
9How do I calculate the taxes my customer will need to pay?

Log into TimePayment InfoHub™ to access our Tax Estimate Tool that you can use to calculate the applicable taxes.

In the states of ME, IL, and NJ, the sales tax must be paid upfront or added to the funded amount on the lease. In all other states the sales tax may be paid monthly. In the state of CT, TX, and WA, there is sales tax due on the documentation fee.

10How do I calculate the loss & destruction fee my customer will need to pay?
Click here to access a Loss and Destruction Fee Schedule for Commercial and Consumer Equipment Leases.
11Where can I find pricing?
You can find our Lease Factor Charts on TimePayment InfoHub™.
12Where can I get a copy of your resale certificate?
Click here to access the resale certificate by state, or visit our Document Library to download a universal PDF version.
13I need a conditional purchase order. Do you have something I can use?

If your customer is approved for this program, the Conditional Purchase Order Form will be provided to you by TimePayment. If you have questions about this process, please contact Vendor Services by calling 800-872-1532 or emailing VendorService@TimePaymentCorp.com and we will assist you.

You can now upload documents via InfoHub™ including a message to TimePayment, and see a time-stamped record on the Application Details page.

14I have a customer that scored an "A" or "AA" and is in a state that allows for a $1.00 buyout; is there an additional document that I need to submit to TimePayment?
If your customer is approved for the $1.00 Buyout, the $1BuyOut Form will be provided to you via TimePayment InfoHub™ and ReadyDocs and should be submitted as part of the funding package. If you are not set up on ReadyDocs, please contact Vendor Services by calling 800-872-1532 or emailing VendorService@TimePaymentCorp.com and we will assist you.
15I submitted an application for a new customer or Vendor through InfoHub™, but my customer was declined. Why? What should I do?

Your customer was not approved because they did not meet our minimum credit guidelines. You can add an additional Personal Guarantor or a cosigner to their lease application and resubmit the application for further review. 

To be considered eligible to be a cosigner on a consumer lease, the person must be a spouse or relative.

Companies that have been in business for less than 3 years will require a Personal Guarantor for approval. To be considered eligible to be a Personal Guarantor on a commercial lease, the person must have ownership in the company or be an officer of the company, depending how the business is structured. 

To resubmit your customer’s application for further review, please send a signed credit application to credit@timepayment.com or fax it to 781.994.4775. Please be sure to reference the original application number with your request.

To be considered eligible to be a cosigner on a consumer lease, the person must be a spouse or relative.

Companies that have been in business for less than 3 years will require a Personal Guarantor for approval.

16Will every deal qualify?
We’ve been partnering with equipment Brokers and resellers for over a quarter of a century to accelerate and enhance sales, and we’ve found ways to work with the broadest range of credit quality out there. So, while not every one of your customers will qualify, we expect that more of your customers will qualify through our programs than most other financing options.

After a Sale / Receiving Funds from TimePayment

1Who is responsible for billing and collecting?
TimePayment will bill and collect from your customer.
2Does TimePayment conduct site inspections?
Site inspections may be necessary depending on the value of the equipment, if you are new to our Vendor Program, the amount of time the Lessee has been in business, or other factors. It is more common for TimePayment to verify the customer’s acceptance of the equipment via a recorded phone conversation.
3How fast will I be paid?

When we receive your completed funding package we quality control the transaction documentation, contact the customer to verify the delivery & acceptance of the equipment, and then pay you.

If we are able to get a hold of your customer prior to 4:00pm PST you will be paid the same day.

We will send our direct Vendors (i.e. not using a Lease Broker) a check via overnight mail, or send payment via ACH. Please note, ACH can take 24-72 hours to fully process.

If we are able to get a hold of your customer prior to 4:00pm PST you will be paid the same day.

We will send your payment in the form of a check via standard mail, or send payment via ACH. Please note, ACH can take 24-72 hours to fully process.

4How do I get paid?

You are paid either through Automated Clearing House (ACH) or by paper check sent via US Postal Mail. Click here to download our ACH Application Form.

Completed ACH forms must be accompanied by a voided check and can be emailed to clientservices@timepayment.com or faxed to 781.994.4775.

5Do you offer progress payments?
We offer our Progress Payment Product to credit worthy Brokers for some equipment types. Please call us at 1-877-938-5231 to see if it is available for your transaction.
6How does your Progress Payment process work?

If we determine you qualify for the Progress Payment Program, you will sign and return the Vendor Progress Payment Agreement. The completed Agreement, signed by an officer of the company, can be submitted via email to ClientServices@timepayment.com or faxed to 1-781-994-4775. Contact us to request a copy of this agreement.

Once approved for the Progress Payment Program, you will only need to complete the Progress Payment Agreement one time. You will be able to exercise the prefunding option on any transaction going forward. This program allows you to be paid a portion of the transaction before delivery of the equipment. After we verify delivery and acceptance of the equipment, the remaining portion of the transaction is paid to you.

Once approved for the Progress Payment Program, you will only need to complete the Progress Payment Agreement one time. You will be able to exercise the prefunding option on any transaction going forward. This program allows you to be paid a portion of the transaction before delivery of the equipment. After we verify delivery and acceptance of the equipment, the remaining portion of the transaction is paid to you.

Updating Account / Contact Information

1I am an authorized TimePayment Vendor, but the name of my business has changed. How do I update my account?

TimePayment must review business name changes on a case-by-case basis. If your business status has changed (i.e. you were a sole proprietor, but now you are a corporation), you may need to submit a new Vendor Application.

If your business name changed but the Tax ID is staying the same, submit proof of legal business name change to clientservices@timepayment.com of fax to 781.994.4775.

If the Tax ID number has changed, a new Vendor Application will need to be submitted and clientservices@timepayment.com will have to be notified of the change. For assistance contact Client Services at 877.868.3800x 1611.

If your business name changed but the Tax ID is staying the same, submit proof of legal business name change to clientservices@timepayment.com of fax to 781.994.4775.

If the Tax ID number has changed, a new Dealer Application will need to be submitted and clientservices@timepayment.com will have to be notified of the change. For assistance contact client services at 877.868.3800x 1611.

If we are able to get a hold of your customer prior to 4:00pm PST you will be paid the same day.

We will send your payment in the form of a check via standard mail, or send payment via ACH. Please note, ACH can take 24-72 hours to fully process.

2I am an authorized TimePayment Vendor, and my business has moved. How do I update my address on file?
Send a request to update the address with proof of new business address to clientservices@timepayment.com or fax to 781.994.4775.

Still Need Help?

Contact our Vendor Services Team for assistance.

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