By default several lenders review an application at once; a retailer may instead use the traditional waterfall setting. LendPro is not a lender. Lenders make all credit decisions and set all terms.
Key takeaways
- Lenders work with LendPro to reach shoppers at thousands of merchant locations through one platform instead of a separate build for every retailer.
- Each retailer chooses its lineup and routing setting, and LendPro configures the flow for each location.
- Lenders make every credit decision, set every term and fund the purchase, and LendPro is not a lender.
- Lenders interested in the network can email support@mylendpro.com to discuss integration, compliance review and merchant enablement.
How do applications reach a lender's programs?
| Path or setting | What happens | What it means for your program |
|---|---|---|
| See If You Pre-Qualify, default setting | One application goes to several lenders in the retailer's lineup at once | Your pre-qualified offer can show side by side with others; the shopper picks one |
| See If You Pre-Qualify, traditional waterfall setting | Prime first, then secondary (near prime) after a prime decline, then No Credit Needed | When you review depends on your tier and the retailer's order |
| No Credit Needed path | When the store offers it, the shopper chooses it at the start; primary lenders are skipped | No-credit-needed providers review, and several offers may show side by side |
| After a decline | The application is routed to another applicable lender, if one is available | You may receive applications other lenders declined |
Retailers choose their lineup and routing setting. LendPro uses a financing flow configured for each location based on the lenders assigned to that location and the requirements of those programs. Contact LendPro to review configuration changes. Lease-to-own is a rental-purchase agreement, not a loan. Total cost is higher than the cash price.
What does a shopper see of your program?
- The shopper applies from an entry point the retailer chose: product page, kiosk, QR code, text link or a hosted application launched from the POS.
- Your pre-qualified offer appears with your name and amount, subject to your final approval.
- The shopper selects your offer and sees your confirmation with the available limit.
- The shopper completes your full application, which may ask for employment, debit card or bank details, agrees to your terms and submits.
- The merchant finalizes the sale in LendPro: invoice, e-sign in store or by text or email link, and settlement on delivery.
Not all providers support pre-qualification. If your program does not, discuss with LendPro how it appears to shoppers. Where the provider supports pre-qualification, it uses a soft pull and won't affect credit scores. A lender may run a hard inquiry if the shopper accepts an offer.
How do lenders join LendPro?
Lenders interested in the network can email support@mylendpro.com to discuss integration, compliance review and merchant enablement. Lenders are enabled per retailer account and location.
What do lenders get?
- Reach. Shoppers at thousands of merchant locations in furniture, appliance, mattress, tire and auto service, jewelry and more.
- One platform. One relationship with LendPro instead of a separate build for every retailer.
- Intent. Applications from shoppers who chose to apply for a specific purchase.
- Early demand. Pre-qualification on product pages, kiosks, QR codes and text links brings shoppers in before checkout.
- Full control of credit. You make every decision and set every term.
Which industries and tickets will lenders see?
| Industry | Typical purchases | Common entry points |
|---|---|---|
| Furniture and mattress | Sofas, sectionals, bedroom sets, mattresses | Product pages, floor tablets, STORIS |
| Appliance | Replacements, kitchen packages | Product pages, POS, text links |
| Tire and auto service | Tires, brakes, major repairs | Counter, text, QR code, 1stMILE checkout |
| Jewelry | Engagement rings, fine jewelry | Product pages, counter tablets |
| Mobile, electronics, medical and dental | Devices, elective treatment | Product pages, kiosks, front desk links |
See furniture, tire and auto and jewelry financing.
What should lenders plan for?
- Clear offers. Your name, amount and terms can appear next to other lenders. Simple offers are easier for shoppers to compare.
- Approval amounts that fit the ticket. An approval below the purchase price often does not close the sale.
- State coverage. Tell LendPro where your programs are available so each location's configuration reflects it.
- Pre-qualification support. Tell LendPro whether your program offers a pre-qualification pathway.
- Disclosures. You provide your consumer disclosures. Lease-to-own providers must make clear that lease-to-own is a rental-purchase agreement, not a loan. Total cost is higher than the cash price.
What does LendPro do and not do?
| Role | LendPro | The lender |
|---|---|---|
| Routes the application | Yes | No |
| Makes credit decisions | No | Yes |
| Sets rates, terms and limits | No | Yes |
| Funds the purchase | No | Yes |
| Displays offers with the lender name | Yes | Provides offer details |
How does LendPro re-engage pre-qualified shoppers?
A pre-qualified shopper starts at a merchant's store or site. Through SPLICE Software Data-Driven Dialogs (text, chat, call, email and voice), LendPro can re-engage pre-qualified shoppers with Pre-Qualified and Open-to-Buy offers on behalf of the merchant that created the lead. This outreach happens with the shopper's consent; shoppers can opt out at any time (reply STOP to texts). Data is encrypted in transit. Application data is shared with the lenders reviewing the application and with service providers that process it under LendPro's privacy notice. Security.
Next steps
Read about waterfall financing, multi-lender financing and LendPro APIs, then email support@mylendpro.com.
Frequently asked questions
How do lenders join LendPro?
Lenders interested in the network can email support@mylendpro.com to discuss integration, compliance review and merchant enablement.
Who decides which lenders review an application?
Each retailer chooses its lineup and routing setting, several lenders at once by default or the traditional waterfall setting, and LendPro configures the flow for each location.
Does a first-position lender always review first?
No. A first review applies only on See If You Pre-Qualify with the traditional waterfall setting. The No Credit Needed path skips primary lenders, and the default setting sends to several lenders at once.
Is LendPro a lender?
No. LendPro is not a lender. Lenders make all credit decisions and set all terms.
Which industries will we reach?
Furniture, appliance, mattress, tire and auto service, jewelry and other retail categories.
Do lease-to-own providers join LendPro?
Yes. The subprime and No Credit Needed tier includes lease-to-own providers. Lease-to-own is a rental-purchase agreement, not a loan. Total cost is higher than the cash price.
Can a lender with several programs appear in different places?
Yes. A lender with several programs can be placed differently at different retailers, as each retailer chooses and LendPro configures.
Do retailers see our decisions?
Retailers see results of their own applications. The Approval Rates report shows lenders side by side, with pre-qual and full-app approval rates and average approval.
How many lenders are in the network today?
LendPro connects retailers to 18+ lenders and 25+ lending programs.