Receiving a Loan Invitation
After you send an invitation for financing, your customer will receive an email to the email address you entered. The subject line will be "Your Exclusive Loan Invitation".
Customer Sign-in
If your customer has already submitted a loan application and received offers, they can click on Sign-in to finish to review their current offers. They'll need to enter their email address and last four digits of their social security number to continue.
Starting a Loan Application
If a customer clicks on Start my loan application, they'll then be taken to the Acorn Finance Loan Application. Here, they'll start to enter the information required to see if they pre-qualify for a loan.
Example screens
Information that we'll be capturing:
Full Name
Current Address
Employment Status
Yearly Gross Income
Date of Birth
Email Address
Housing Status
Phone Number
Credit Score (Optional)
Social Security Number
Customer Received No Offers
Customers may not receive offers from the Lender that reviewed their information for pre-qualification. The Lender will send your customer an email with more information about the reasons why they did not receive an offer.
This is what your customer will see if they receive no offers after filling out the application.
Reviewing Pre-Qualified Offers
If your customer is pre-qualified for Offers, then they will be presented with offers from the current lender.
Refer to the Financing Overview for more information regarding which lenders are currently active.
Example: Customer applied for a loan of $10,000, and was pre-approved for an installment loan through the Lender, Upgrade.
Applying for the Loan
If the customer clicks on Choose this offer, they will then be taken to the Upgrade loan finalization experience to finalize their loan terms.
Example screens
The Lender will require the following information:
Creating a username and password for the Lenders Customer Portal
Reviewing and Confirming the offer details
Agreeing to the Truth in Lending Agreement (TILA)
Confirming their identity through a one-time passcode
Verifying their Social Security Number
Connecting a bank account to Upgrade (Required to retrieve payment for funds)
Application Approved
Upgrade can approve the loan after the customer submits this information. The funds will be immediately available for Transfer from the Acorn Finance Portal to the Companies Bank Account.
Application Pended
There are times when the Lender will require more information before approving the loan. This typically happens if there is a discrepancy between what the customer types into the loan application, and what is found on the customer's credit report.
In that scenario, the customer will see a screen requesting more information.
✅ Tip: Reassure customers — this process is quick, secure, and won't hurt their credit to check options.