Merchant Cash Advance Software
Turnkey Equipment Financing Software
- Grow your business with differentiating your offering and improve profit margines
- Improve client lifetime value by providing a simple and smooth financing experience.
- The cloud based platform automates the entire loan life cycle including application processing, risk assessment, decisioning, underwriting,digital self-service repayment ,reporting, archiving, compliance making the entire financing process fully automated ,quick and easy to use.
- Available out-of-the-box , affordable price..No coding required.
- Full Sandbox Environment. Free Trial 15 days. Sign Up.
Equipment Financing Options
- Installment Sale Contract Allows the customer to purchase the equipment and pay for it over a period of time.
- Finance lease Capital lease that allows the customer to make lease payments over a period of time and purchase the machine for a “bargain purchase option” at the end of the lease term. Options can be set as low as $1 (“Dollar Option Lease”). Taxes are financed upfront on a dollar option lease instead of billed monthly.
- Long Term Purchase Provides the customer with the lowest possible payment and gives the customer an option of returning the equipment or purchasing it at a pre-determined price (based on Fair Market Value) at the end of the lease term. This is an operating lease that may be treated as an “off-balance sheet” solution.
- 100% Reimbursements for Growing Industries like Technology & Medical Equipment Financing Reimbursements can be structured as a lease or a loan depending on unique business needs and equipment.
Explore New Efficiencies with Compassway Solution
Borrower Portal
Give customers self-service access to their credit line and finance information – anywhere, at any time Lets your customers view both current and historical information, submit funding requests, post updates, and attach supporting documentation. That frees up time for your staff to focus on non-routine tasks and requests. Custom branding options Brand the borrower portal with your company’s logo and color scheme to extend your marketing footprint.
Automated Loan Origination Process
Transform the lease and loan originations process to create the seamless digital experience your customers expect. With our originations software, every step of the process – from the first customer interaction through quoting, credit decisioning, and documentation is automated making the entire workflow .fast and accurate.
Customer Self-Service
Meet customer expectations to deliver seamless digital customer experience .With an omni-channel onboarding and loan origination solution, you can speed up the customer welcome process, and validate digital identities.e-Sign and e-ID integrations mean faster processing and payments – and cuts the time it takes to create, share, or approve customer documentation
Underwriting: Workflows for Quick and Consistent Decisions
Every stage of the equipment finance underwriting process is supported by an embedded credit decision engine and streamlined by workflows configured to your credit policies, saving you time without adding risk..For loan or lease applications that require manual review, borrower information is presented in a convenient and fully customizable 360° view.
Product Engine
Highly adjustable application form, approval procedures, customised credit product builder.Create innovative loan products with scalability and a quick time to market. Work with a variety of lending models including factoring, vendor finance, rent-to-own, lease-to-own, supplier financing, inventory financing, as well as fully custom credit products tailored to your customers. Multiple configurable financial products scan be fine-tuned to your offerings, choosing settings such as commissions, residual value and upfront payments.
Risk Management
Customizable credit scoring models, up-to-date credit policies, business instructions, and relevant sources of data ensure an easy compliance experience.Set loan limits , sub-limits, and seasonal uplifts that reflect your policies and risk levels, while configurable rules allow a seamless flow of goods between supplier and dealer
Self Service Repayment
Borrowers can easily perform a wide range of account-related activity on their own, including making and scheduling payments, setting up autopay, customizing their payment plan, accessing statements, updating account information and more. It also makes it easier for frequent, timely messages.
Cloud based platform
Out-of-the-box functionality and a well-defined road map keep you up to date with a dynamic market – all with minimal infrastructure and up-front investment.Compassway Lending Platform is completely cloud-based. All functionality, including credit applications, decision-making, servicing, data collection, and report configuration is hosted on cloud servers and is available from anywhere around the globe from any device
Scalable Solution
As your organization grows, an all-in-one lending management solution can scale to accommodate increasing loan volume and complexity, helping you manage loans more efficiently as your business expands.
Dashboard, Email & SMS Notifications
Our loan software is pre-configured for quick integration with email and SMS services. You can set up notifications for both borrowers and employees to keep track of every step of the loan process.
Document Management
All loan documentation and statements are automatically generated and readily managed. Specify detailed standards for borrower and loan document collecting, which will be replicated across the platform immediately.
Seamless Colloboration
Configure roles and permissions based on your unique servicing policies, so that each team member has access to the information and tools they need to do their job effectively, while also maintaining data security and privacy.
Conquer common challenges with business grade equipment financing technology
Problem:
- Companies are missing out on market opportunities and losing ground to their competitors by relying on outdated technology to process financing applications, make decisions, choose terms and conditions, and collect payments.
- Third-party purchase financing can be costly, with fees of up to 7% of the check, and can also require relinquishing control over critical business and client data.
- The process of providing loans to businesses involves extensive risk assessment and paper documentation, which can be time-consuming and inefficient. Manual approval processing with several client touchpoints and Excel-based risk assessment can result in low decision accuracy and slow down the approval process.
- To manage the variety of financing types, scoring models, and business logic modalities involved in installment plans, individual and company loans, and leases, companies require a robust solution that can handle these complexities.
- Installment plans, individual and company loans, and leases require a solution that can manage a variety of financing types, scoring models, and business logic modalities.
Solution:
- With Compassway solution application, your team can send pricing, prepare proposals and submit applications to pre-configured workflows from virtually anywhere.
- Delivering a modern and automated origination experience In-house equipment financing you complete control over the financing process.
- Even when working with high-risk customers, Compassway's flagship scoring algorithms make lending and credit decisions highly accurate and reliable. Utilize the power of advanced machine learning algorithms for your lending management needs to make quicker and more precise decisions right away.
- Compassway's equipment financing solution is a sophisticated AI-driven system that can unify many lending models, scoring methodologies, and decisioning rules into one platform that brings speed, accuracy, and automation to your pricing options and enhance client's experience.with instant loan approval for machinery and equipment purchasing.
- As your organization grows, an all-in-one equipment lending solution can scale to accommodate increasing loan volume and complexity, helping you manage loans more efficiently as your business expand Introduce new product lines, or implement new products and services without worrying about being held back by your system
Sign Up Free. Get Access to Full Sandbox. Contact us to arrange a demo, answer questions, and talk about how CompassWay can help grow your business.
WHAT
CUSTOMERS SAY
