The Finance Options in Leap allow your users to quickly see which financing plans your company can offer and calculate monthly payments and merchant fees. To add a finance option click the button.
Enter the following information:
- Is Active
- Tells Leap if the finance option is available for use. When turned off, the finance option will not appear to users.
- The source of this financing plan. Currently GreenSky is the only option. By selecting “GreenSky”, the said financing option will show up as an option inside of the credit application section of the Leap app. This is used only when submitting financing applications through Leap to GreenSky.
- Bank Name
- The name of the bank offering the finance option.
- The category the finance option falls under inside the app.
- The name of the finance option.
- A description of the finance option.
- Plan Code
- An ID number for the finance option (optional).
- Min Amount
- The minimum finance amount needed to use the finance option.
- Max Amount
- The maximum finance amount for which the finance option can be used.
- Interest Rate
- The interest rate of the finance option (This can be variable, I.e. 16.99-27.99%)
- The number of payments in months.
- Payment Multiplier
- The payment multiplier used to calculate the monthly payment for the finance option. This will always be a number between 0 and 1.
- Dealer Fee
- The percentage amount the bank charges to sell the finance option. This will always be a number between 0 and 1.
- Included Offices
- The offices in your organization that can access the finance option.
To include the Detailed Finance Numberseach individual iPad will have to enable the setting. Click on settings and turn on the option for Show Detailed Finance Numbers
Finance Option Categories List
List of Finance Options In a Category
Exporting/Importing finance options allow you to to view all finance options in an Excel spreadsheet. This may be preferable to some users. Before importing any changes first export your existing finance options by navigating to the Finance Options tab > Tools > Export Finance Options. You will receive an email with a spreadsheet that you can edit and re-import.
Once you export your finance options, you will receive an email with an Excel attachment in which you can add/edit/delete finance options. All fields that need to be edited are explained in the Adding/Editing section except for 2 columns:
- Id (Column A)
- The identification number of the finance option. If you are creating a new finance option leave this cell blank.
- Delete (Column B)
- Adding “DEL” to this cell will delete that finance option from your database when the updated Excel is imported. Note: There must be an “Id” associated with a finance option to be able to delete it.
You can import the spreadsheet by clicking Finance Options > Tools > Import Finance Options.