one step financing
American General Financial Services and Service Finance Company combine forces to ensure all declined credit applications receive a “second look” automatically via a secure internet pipe. AGF make this program available to all clients who want more approvals with faster response times and no additional paperwork to fill out. Simply submit a credit application to AGF and if it is declined, they will automatically transmit the application to SFC for a “second look”. When approved, SFC will fax or email you the pre-populated loan documents for customer execution.
 
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One step financing faq
1. What is the “One Step” program?
One Step is a retail financing program that integrates the first and second application reviews into one seamless process. You submit only one customer application to AGFS and any declines are automatically transmitted to Service Finance Company (SFC) for a second look. It’s a quick and easy way to maximize your sales and increase profit.
2. What approval rates can we expect from SFC?
Historically, SFC has approved more than 50% of “second look” applications.
3. Do I need to be enrolled with American General Financial Services (AGFS) and SFC to participate in the One Step program?
Yes, if you are not an AGFS dealer, you can enroll by contacting your local American General Financial Services branch, visiting www.agfinance.com, or calling (800) 599-2347. You will then need to enroll with Service Finance by calling (866) 284-6005 or visiting www.svcfin.com.
4. How will my declined credit applications get passed to SFC?
AGFS will automatically send the application electronically to SFC for a second look.
5. What if I’m selling in the home?
If you are selling in the home and phoning a credit application to AGFS, and your application is declined, you will be transferred to SFC for a second look.
6. Once I’m transferred to SFC will I need to re-read the customer information?
No, since the application is electronically transferred, SFC will have all of the necessary information.
7. Do I need to complete another credit application?
'No, the AGFS application contains language whereby the consumer authorizes AGFS to share the application information with SFC and authorizes SFC to consider the application for credit. Therefore there is no need for a second application.'
8. How long will it take to receive a credit decision from SFC?
The average time for SFC to decision an application is 5 – 7 minutes.
9. How will I receive the documents from SFC?
SFC will send the pre-populated documents via fax or email so there is no paperwork for you to fill out.
10. How long will it take to get funded from SFC?
Funds will be wired 72 hours after SFC receives the documents.
11. Do I need to complete additional forms such as credit applications or retail installment contracts?
No, the credit application will be transmitted electronically and all other forms and documents are sent via fax or email upon credit approval.
12. Are there discounts associated with using SFC?
Yes, approved applications have a typical discount of 10%. The discounts range from 5% to 20%.
13. What are the loan amounts SFC will consider?
$1,000 to $20,000
14. What are the terms on the SFC program?
The term of the loans range from 12 months to 120 months.
15. Are there any pre-payment penalties associated with SFC’s program?
No
16. Once a customer is approved by SFC, who will they need to contact for any questions?
Once a customer is approved by SFC, they are then a customer of Service Finance and will need to contact them with any questions at (866) 254-0497.
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