Audience: All Users (Starter, Core, Pro, Enterprise)
Topic: Platform Overview & Workflow
Summary
PayPlan is the engine that powers your financing program. It handles the entire lifecycle of a loan, from the moment a customer applies to the final payment they make to clear their balance.
This guide outlines the seven key functional areas of the platform, explaining how each stage helps you close more sales, manage risk, and collect revenue efficiently.
The Basics
Before diving into the modules, here is how the system is structured for you:
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Your Account (Tenant): You have your own secure environment. If you have multiple store locations or brands, they can all be managed under one master account.
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Team Permissions: You control who sees what. You can give your Managers full access to approve loans, while giving Sales Associates limited access just to view applications.
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Custom Setup: We work with you to configure your specific products, fees, and approval rules so the system behaves exactly how you need it to.
1. Loan Origination (The Application)
The process begins when a borrower applies. We make this step as frictionless as possible to help you close the sale.
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Mobile-First Design: Borrowers can apply by scanning a QR code or clicking a link on their phone.
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Dynamic Logic: The application automatically adapts based on what you are offering (e.g., a Merchant Cash Advance, a Line of Credit, or a Lease-to-Own agreement).
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Branding: You have two great options.
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The interface looks and feels like your business, using your logo and colors or
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You can use PayPlan’s standard logo
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Data Capture: The system guides the borrower through entering their identity, financial info, and contact details, ensuring you get a complete application every time.
2. The Decision Engine (The Brain)
Once an application is submitted, PayPlan’s Decision Engine takes over. This is where your business rules determine if a customer qualifies.
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Your Rules: You define the criteria (e.g., minimum income, credit score, employment status).
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Tiered Offers: Instead of a simple "Yes or No," the system can generate multiple options. For example, a customer with great credit might get a 24-month term, while a riskier applicant gets a 12-month term.
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Speed: Decisions happen in seconds, allowing you to approve the customer while they are still in your store or on the phone.
3. Loan Management & Underwriting
This module is the quality control checkpoint. It validates who the borrower is and whether they can afford to pay you back.
3.1 Identity Verification (KYC)
We use integrated tools like Precise ID to prevent fraud. The system checks the applicant's data against national databases to confirm they are who they say they are and highlights any red flags.
3.2 Income Verification
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Open Banking (Plaid): Borrowers can securely log into their bank account to verify their income instantly.
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Manual Uploads: If you prefer, borrowers can upload photos of pay stubs or bank statements for your team to review.
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This feature is available with the minimum Core subscription plan and above
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3.3 Underwriting Control
You choose how much automation you want.
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Fully Automated: The system approves or declines based strictly on your rules.
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Hybrid: The system approves the clear winners, declines the clear losers, and sends the "borderline" cases to your team for a manual review.
4. Servicing (Managing Active Loans)
Once a loan is funded, it moves to the Servicing Center. This is your dashboard for tracking repayment.
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Loan Status: Instantly see if a loan is Current (paying on time), Delinquent (missed a payment), or Closed (paid off).
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Operational Actions: Your staff can perform servicing tasks directly in the dashboard, such as marking a "Promise to Pay" if a customer calls in, or setting up a Forbearance period if a borrower is facing temporary hardship.
5. Payments (Collecting Revenue)
PayPlan is integrated with PayLiance to handle the movement of money securely and automatically.
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Flexible Methods: Accept payments via ACH (Bank Transfer), Debit Card, or Credit Card.
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Automated Retries: If a scheduled payment fails, the system automatically runs logic to retry the payment later, saving you from having to chase the customer manually.
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Skipping & Crediting: You have the tools to skip a payment, issue a refund, or waive a fee if needed to maintain customer satisfaction.
6. Tracking Progress (Stages & Statuses)
To keep your operations organized, every application is categorized.
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Types: We track where the lead came from (e.g., Web Lead, In-Store, Returning Borrower).
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Stages: You can filter your dashboard to see exactly where every customer is in the funnel: Incomplete, Underwriting, Offer Sent, Funded, or In Repayment.
7. Communications (Staying in Touch)
The communications engine ensures your borrower is never left in the dark.
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Automated Alerts: The system sends emails and SMS messages automatically when important events happen, such as "Loan Funded," "Payment Successful," or "Payment Failed."
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Templates: You can customize every message to match your tone and brand voice.
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Smart Triggers: Set up logic to send specific messages at specific times, such as a reminder 3 days before a payment is due.