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3rd Party Financing Companies

3rd Party Financing Companies

3rd Party Financing Companies: What to Look For

At Zip-Loan, we help small business owners generate more sales by providing financing options for their clients and customers. Our goal is to make it easier for businesses to offer flexible payment options in order to remain competitive in an ever-evolving marketplace.

In this article, we'll discuss the benefits of using 3rd party financing companies and provide a few tips on what to look for when choosing one. Whether you're a startup or an established firm, financing is often essential in order to sustain growth within your business. By selecting the right 3rd party finance company, you can easily achieve your sales targets with minimal effort.

What is a 3rd Party Finance Company?

3rd party financing companies provide temporary loans or leases to businesses as well as individuals. They are usually independent organizations that partner with banks and other institutions to provide access to capital which may otherwise not be available. In some cases, they may also be able to extend discounts on goods and services offered by their partners - greatly reducing costs for businesses and providing an incentive for clients who need extra time to pay off larger purchases.

The best thing about 3rd party finance companies is that they are often willing to take risks on young entrepreneurs who lack a proven track record of success. As such, these organizations can act as powerful allies during crucial early stages of development by extending capital even when traditional financial institutions might hesitate.

Pro Tips for Finding & Choosing Between 3rd Party Firms

-When looking for the right third-party financing provider, here are a few pro tips worth considering:

-Do research on multiple firms before making any decisions; compare interest rates, repayment plans, additional fees or charges, etc.

-Find out as much as possible about the customer service provided by each firm; many companies pride themselves on customer experience, so you want one that will respond quickly if any issues arise relating to loan repayments etc.

-Ensure that all contracts with each firm are agreed upon beforehand; including any repayment schedules should unexpected circumstances arise later down the line

-Ask if they offer access to additional services such as late fees waivers or early termination fees

-Make sure you have all necessary documentation handy such as proof of income and credit histories in order to ensure faster processing times

Key Takeaways

-When considering whether or not third-party financing providers are right for your business, keeping the following key points in mind can make things a lot easier:

-3rd party financing companies provide valuable access capital which may not be available through traditional lenders

-Compare multiple firms before committing and double check customer service levels too; quick response times can be essential

-Always read contracts thoroughly before signing up and ask questions about additional services such as early termination fees or late fee waivers

-Have all necessary paperwork prepared beforehand - this will save time during the application process

At Zip-Loan, we understand how important access to capital can be for both startups and established businesses alike - that's why we work tirelessly with our partners in helping small business owners generate more sales through flexible financing options. From low-interest rates and flexible repayment plans, our goal is always putting our customers first when it comes to helping them achieve their goals.

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First Look Solutions

Zip Loan has formed partnerships with leading financial institutions and lenders for the sole purpose of creating an integrated first look experience. Consumers can see all their options in one location, which makes them more inclined to buy.

Application Process

APIs support the application, credit rating, pre-approval, and final offer for a smooth process from start to finish. Each financial provider has a tailored workflow to its algorithms and necessary functionality. These APIs handle special requirements seamlessly and speed them up.

This modular solution supports pre-approval concepts, promotional payment programs, and joint application processing.


This module supports both online and storefront transactions, pending the approval of third-party partners. With practical features like same-day voiding, partial or full post return, and support for on-site facilities, the first look module is a sensible choice.

Reports and Inquiries

Businesses need to know their revenue figures, so this modular software makes it easy. Companies can quickly check daily transactions reports, merchant reporting, individual transaction reviews, individual account settlement status, and merchant-wide settlement reports.

Customers can also verify their accounts and track their payments.


The solution modules are designed so they can work independently or within an existing customer system. The modular payment solution integrates with the most popular software easily, or the development team can build a custom bridge.

Zip Loan offers full look customization. Clients can choose to use the existing clean interface or create their own to match the rest of their process. Zip Loan offers workflow optimization and assistance.

Second Look Solutions

Second look solutions often require multi-level or multi-partner financing options. Zip Loan facilitates that through the second look module for consumers who are typically considered sub-prime borrowers. The process matches the first look module, and the two integrate seamlessly for a better customer experience when deployed together.

Application Process

Functional APIs allow quick processing for application, credit rating, pre-approval, and final offer for each financial institution. The API expedites special requests and manages the process flow based on what information the consumer provides.

Joint application processing, pre-approval concepts, and promotional payment options are available with this module.


Businesses need to know their revenue figures, so this modular software makes it easy. Companies can quickly check daily transactions reports, merchant reporting, individual transaction reviews, individual account settlement status, and merchant-wide settlement reports.

Customers can also verify their accounts and track their payments.

Reports and Inquiries

All modules include in-depth reporting so partner companies can better manage their revenue stream. Available reports include individual transaction review, individual account settlement status, merchant
reporting, daily transactions report, and merchant-wide settlement reports.

Customers can also verify their own accounts and perform specific actions.

Third Look and Merchant Payment Plans

Payment plans may seem newer, but the practice is a well-recognized payment method with decades of history. At Zip Loan, we’ve been providing payment plan solutions for years to helps businesses gain customers, even those without excellent credit.

Zip Loan provides an end-to-end solution for every client. This model uses advanced origination modules and comprehensive software solutions for every eventuality. As with first look and second look modules, this software can be used alone or as a modular waterfall solution.

How It Works

The third look and merchant backed plan module can be implemented alone or with partner workflows for a seamless experience. The APIs handle all the origination and underwriting mechanisms as well as the payment plan execution.

This modular payment solution includes four potential mechanisms for ease of use:

This module uses a proprietary software solution for underwriting criteria that companies can customize using a rules system. Companies can specify each aspect of the payment terms based on their clients’ risk factors when filling out their profile. The platform has an API for credit risk factors and can check credit scores.

The interface for consumers is straightforward and simple to operate. Changes companies make to criteria are reflected immediately, and users are not notified when a company changes its rules. Instead, the consumer sees different offers at the next search.


The module platform creates the necessary legal documentation based on the merchant inputs. The platform includes a signature pad for ease of use and email status updates on the customer’s requests. For the consumer, the straightforward workflow looks like this:

Recurring Billing

Once the consumer signs the documents, the recurring billing system handles all payment management. There’s no need for the company to chase the consumer. If necessary, the collections module handles any missed payments.

Additional Key Module Features

All modules include:

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