Merchant portal application statuses

 

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.