one touch solution

An exclusive CCA Member program with Citifinancial providing an electronic “second look” solution to Flooring America and Carpet One dealers nationwide. This program ensures all declined credit applications by CitiFinancial are electronically sent to SFC for a “second look”. Within 7 minutes, we will communicate the credit decision by email, fax, or phone (your preference) and if approved, provide the pre-populated loan documents for customer execution.

Enrollment:

Complete the short Enrollment Document located on members.net in the National Program section. Completed forms need to be faxed to 866-894-4686. If you have a SFC approval before signing up the application will come across with the customer’s credit decision.

For those with multiple locations, an “Additional Location Form” must be filled out for each location with contact info, as each store will have a specific SFC ID.

Program Details

Credit: A-F
Rates: 17.99-21.99
Term: 12-120 Months
Pre-Payment Penalty- None
Loan Amount 1,000 to 20,000
Promotion: 90 Days Same As Cash (qualified applicants)
Document Delivery: Email or Fax (Within 5 minutes)
Funding: Electronic (72 hrs after receipt of originals)
Discount: 5-20% (Depending on Credit Risk)

Benefits

  • Higher Aggregate Approval Rates – leads to higher sales and expanded customer base
  • Credit decisions while your customer is in your store!
  • No paperwork to complete
  • Electronic funding
  • 5 Minute Credit Decisions – higher close ratios
  • 1 Credit Application auto-submitted to SFC after CitiFinancial turndown.
  • Complete pre-populated Electronic Document Delivery
  • Administrative Savings (no paperwork to correct)
  • Electronic Funding within 72 hours of receipt of completed paperwork
  • Weekly Reporting on Financing Activity
  • Non Recourse

Dealer Enrollment (PDF Download)

Dealer Agreement (PDF Download)

Program Sumary ( PDF Download)

Program Details (PDF Download)

Sample Loan Package (PDF Download)


 

 


 

 

 

 

 

 


One Touch Solution “Second Look” FAQ

1. What is the “second look” program?
The second look program allows SFC to review declined credit applications for customers with less than perfect credit or who have filed a recent bankruptcy.

2. What approval rates can we expect?
Historically, SFC has approved more than 50%.

3. Do I need to be enrolled with CitiFinancial and Service Finance to participate in the electronic second look program?
Yes- Enroll with SFC by visiting www.svcfin.com or call 866.894.4686

4. How will my declined credit applications get passed to SFC?
CitiFinancial will send them electronically to SFC for a “second look”.

5. What if I am selling in the home?
If you are selling in the home and phoning credit applications to CitiFinancial, you will be transferred upon decline to SFC for a second look.

6. Do I need to re-read the customer information to SFC if I already phoned to CitiFinancial?
No- you will not need to re-read the application since it will have been transferred electronically to SFC.

7. Do I need to fill out another credit application?
No- The CitiFinancial application has language contained therein authorizing SFC to pull the customer’s credit.

8. How long will it take to receive a credit decision?
Average time is 5-7 minutes.

9. How will I receive the documents?
SFC will send the pre-populated documents via fax or email so there is no paperwork to fill out.

10. How long will it take to get funded?
Funds will be wired 72 hours after SFC receives the documents.

11. Do I need 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 discount of 12%.

13. How long will SFC finance a customer?
The term of the loans range from 12-120 months.

15. Are there any pre-payment penalties associated with SFC’s program?
No.