Customer Financing FAQs - PayPossible

All Categories > Customer Financing FAQs

Customer Financing FAQs

How Do I Apply for Financing?

There are multiple ways to apply for financing for your purchase through PayPossible. Web Application: Each business has a PayPossible ID (i.e. John's Auto). Ask the business for their PayPossible ID…

Updated 2 months ago by Justin Humphries

I Have Excellent Credit (700 FICO), Why Didn't I Receive Offers?

While the free online credit monitoring programs can give you an idea of your credit score, in most cases they do not give you the full picture. In order to do so they would have to do a Hard Pull on…

Updated 2 months ago by Justin Humphries

How do I find the PayPossible ID of a Business?

Each business on the PayPossible platform is assigned a unique ID (i.e John's Auto), which is used to associate a customer financing request to the correct business. Ask the business for their PayPos…

Updated 2 months ago by Justin Humphries

I Received Offers for Financing, Now What Do I Do?

As PayPossible is a multi-lender platform with various programs customized for each business, the criteria for each Lender on our platform will vary. While some of our Lenders offer an instant verifi…

Updated 2 months ago by Justin Humphries

How do I View or Select My Financing Offers?

If you have already completed your application for a purchase from your desired business, but need to get back to review your offers, please follow the steps below. If you need additional help, pleas…

Updated 2 months ago by Justin Humphries

I Did Not Receive Offers, Should I Change the Amount and Redo the Application?

No, unfortunately changing the amount will not have an impact on receiving offers if you redo the application. The offers that are returned are based on your credit profile, or various other factors…

Updated 2 months ago by Justin Humphries

What is the Minimum and Maximum Amount that Can be Financed?

Our current lender network will finance a minimum amount of $300 up to a maximum amount of $50,000. Our team is always evaluating new lending partners to add to the PayPossible platform, check back f…

Updated 2 months ago by Justin Humphries

Does Checking my Financing Options Affect My Credit Score?

No. When you complete your credit profile through PayPossible, your credit information is verified by doing a soft credit inquiry - which is engineered to NOT affect your credit score. However, once…

Updated 2 months ago by Justin Humphries

Hard vs Soft Credit Inquiries: What are They and Why do They Matter?

There are many different factors that go into your credit score. One large factor is your open credit card utilization rate, another is your percentage of payments that are made on-time, another is t…

Updated 2 months ago by Justin Humphries

How Long Does the Approval Process Take?

Once you've successfully completed and submitted your 'Credit Profile' - offers will be displayed instantly* if pre-qualified. Based on the amount requested and the Lender chosen - additional documen…

Updated 2 months ago by Justin Humphries

How do I Log into My PayPossible Account?

To log in to your PayPossible account go to https://paypossible.com/sign-in and enter the email address and password that you set when applying. *If you forget your password click 'Forgot Password' l…

Updated 2 months ago by Justin Humphries

I Applied for a Certain Amount, Why did I Receive Financing Offers for a Higher Amount?

If you received a higher amount, that just means the lenders have recognized you are a candidate for more funds. In most cases you will receive the amount you are looking for, but this will depend on…

Updated 2 months ago by Justin Humphries

I Never Received my Verification Email, What Do I Do?

First, check your spam folder. If you still cannot find the email, please follow the steps below: Visit https://paypossible.com/sign-in. Click on 'Forgot Password'. Enter in the email address that yo…

Updated 2 months ago by Justin Humphries

I Received an Email from PayPossible Asking for My Personal Information. Should I Provide It?

No. PayPossible will never send an email requesting any information including, but not limited to account information, passwords, social security, bank information etc. Our platform can guarantee you…

Updated 2 months ago by Justin Humphries

What are the Typical Interest Rates?

Your credit score will be one of the largest factors in determining the annual percentage rate (APR). In general, the higher your credit score, the lower the interest rate and APR. Individuals with e…

Updated 2 months ago by Justin Humphries

What if I Don't Want to Use My Funds to Make a Purchase from the Business I Searched for Offers From?

If you did not sign the contract docs there is nothing to worry about, and there is no effect on your credit score by filling out an application. If you did sign the contract docs and changed your mi…

Updated 2 months ago by Justin Humphries

What if I Have a Problem with the Business I am Making a Purchase from, My Financing, or PayPossible?

Our goal is to make this process as seamless as possible for you as a customer. If you have any questions or concerns with any part of the PayPossible process, or with your lenders, you can reach out…

Updated 2 months ago by Justin Humphries

Why Can I No Longer See all of My Financing Offers?

Your offers will no longer be displayed within your initial financing application once you 'Select an Offer'. When you select a financing option you will be redirected to that Lender's website to com…

Updated 2 months ago by Justin Humphries

Why Do I Have to Link My Bank Account to My PayPossible Account?

For compliance reasons only, some of the lenders on our platform may send the financing for your purchase directly to your personal bank account. In this case, you will need to link your personal ban…

Updated 2 months ago by Justin Humphries

(opens in a new tab)