In the merchant portal, you can check the status of both your prequalification applications and loan applications. Know what stage your customer is in every step of the way.
Prequalifications
Status |
Definition |
Next steps |
Prequal Started | Your customer has started the prequalification application. | See if they have any questions, and direct them to Wisetack support if you’re unsure. |
Prequalified |
Your customer has successfully prequalified for financing through Wisetack. Note that the actual amount and terms will vary upon applying for a loan. |
Great! Send your customer a text or give them a call to follow up on this warm lead. |
Prequal Declined | The prequalification was declined. | No additional steps needed. We are unable to offer financing through Wisetack to this customer at this time. |
Prequal Expired | The prequalification has expired (after 14 days). | Send your customer another prequalification application if applicable. |
Prequal Canceled | The prequalification application has been canceled by request from the applicant or provider. | If this was done by mistake, you can send your customer another prequalification or they can pay using another method. |
Loans
Status |
Next steps: For your business |
Next steps: For your customer |
Pending | Your customer has started the application but they still need to complete it. | Keep going — they haven’t entered enough info to see an offer. |
Action required |
First, have your customer refresh the page after 60 seconds. If the application is still in this stage, it means we need a little more info. Your customer might need to re-upload their ID or enter their debit card info.
You can find the specific steps required in the merchant portal by going to your customer’s loan details page. |
Refresh the page after 60 seconds. If they don’t proceed to the Offer Available page, have them check their email for more information or call us at 1 (833) 927-0333. |
Approved | Your customer has been approved for financing, but they still need to select an offer. | They should select a monthly payment option. |
Offer locked | This is your green light to start the job. Your customer has selected an offer and signed all the documents. | Once the work is completed, they should hit the Confirm button. |
Confirmed | The customer has paid — you’re all set! | Look out for emails about repayment. |
Paid | Wisetack has sent the funds to your business account. | Nothing, all done! |
Declined | Unfortunately, we were unable to approve your customer’s application. | No additional steps needed. We are unable to offer financing through Wisetack to this customer at this time. |
Expired | The purchase has expired (after 90 days). If your customer would like to re-apply, send them a new application. |
Your customer can re-apply with a new application or can pay by another method. |
Canceled | This purchase has been canceled by request from the applicant or provider. If your customer would like to re-apply, send them a new application. | If this was done by mistake, your customer can re-apply with a new application or can pay by another method. |