Frequently Asked Questions

Find answers to common questions about second look financing, credit and funding, technology, and more.

General

When your customer is declined by your prime lender, second look is the credit alternative before resorting to lease-to-own programs. Click here for more information about second look financing and how it can help you meet the needs of your customers and increase sales.

Some retailers have two prime providers and consider the second prime provider a second look solution. We are actually second look because we go deeper and allow more of your customers to be approved for a more attractive credit offer before they have to consider a lease-purchase solution.

Improved Approval Rate Consistency
Prime lenders will adjust risk cutoffs to optimize profitability for several reasons, including:
- Delinquency
- Economic cycles
- Price discounting
- And more….
When prime lenders make these adjustments, retailers have to rely on alternative sources to provide financing to customers.
Convert sales and higher tickets
Offering customers the ability to spread payments over time drives increased ticket size. This is especially true
for those customers that fall below prime lenders’ cutoffs. The less-than-prime customer has fewer payment options; therefore, the incrementality of store credit is greatest for retailers.

Fortiva Retail Credit serves all U.S. markets, including Puerto Rico and the U.S. Virgin Islands. Certain restrictions may apply.

Fortiva Retail Credit uses over 40 unique models trained on 40 billion cells of data to consider applicants for underwriting. The FICO score is a component of these models, but not the only factor we use. By relying on our time-tested proprietary models that have been proven through economic cycles, accounts can be offered to customers otherwise ignored or declined by other financing solutions.

Approving your customers for a revolving line of credit will lead to repeat business and word of mouth referrals. Second look financing is appealing because it is less expensive than rent-to-own, offers more attractive terms and has a higher customer acceptance rate.

Some lease-purchase (rent-to-own) providers may claim they are second look simply because they are not a prime provider. We are second look because our proprietary underwriting technology allows us to offer true revolving credit accounts to customers who have been declined by your prime provider. We believe that rent to own should be your customer’s third look option.

Getting started with Fortiva Retail Credit is easy. Fill out our Contact Form, and if you’re a good fit for our financing solutions, we will be in touch.

Credit & Funding

We have designed our application to mirror the process provided by your prime provider. As a result, it is easy to train your sales associates and provides the best possible customer experience. And, yes, our process is really paperless.

Instant decisioning – in mere seconds.

Credit limits vary by industry, ranging anywhere from $1,000 up to $40,000.

Depending on the industry, the sale will be funded as quickly as the next day.

Integration & Technology

Over the years we have integrated our paperless system with prime lenders and leading vendor platforms. We will integrate with your existing system based on your specifications (e.g., POS, Prime lender, Online or Third-Party Portal). The set-up process is quick and easy.

Our SAS-based reporting allows for robust reporting and customizable reports.

Cardholders may access their account online anytime by visiting https://www.myfortiva.com/my-account