Lender Rules
This discounting lender does not allow Reliant to conduct the verbal or create addendums
Leaf
Any ACH initiated by Reliant over this amount requires Accounting to confirm funds have cleared before funding.
$1,000
ACH Forms must match the name on account shown on the voided check
True or False?
True
What city is Reliant Capital Headquarters in?
Irvine
What is Thomas Edison's most famous invention?
Lightbulb
This lender requires insurance quotes for the full equipment value before discounts or trade-ins.
Stearns
How many unsuccessful verbal attempts are made before the customer must return your call or Sales must provide an email?
On a verbal the customer told you that the vendor is going to pay and cover their first 6 months of payments. This is fine and the file can now be sent to the funding source for commencement.
True or False?
False
When do Newlane signed documents expire ?
90 days requires fresh signatures
What was the first Pixar movie?
Toy Story
Name one lender who does not wire vendor payments.
Banleaco
NCMIC
These deals always require a Driver's License and the front and back of the Title or MSO before docs.
Titled Deals
You can finance a doc fees at Mitsubishi
True or False?
True
What is the first payment date for a discounted deal with a commencement date of July 23rd.? NO advance payments.
August 20th.
Which popular fruit’s seeds are toxic if consumed in large amounts due to the presence of cyanide compounds?
Apples!
Channel Partners requires what banking document before Working Capital docs can be sent
Voided Check
For FMV transactions - Who is the Bill To on the final invoice?
Reliant Capital.
Stearns allows PO Box address' to be listed on documents
True or False?
False
What is a BROKERED Newlane Deals doc fee when financing is over 100k and there is NO prefunding?
$199
Which soft drink soda was originally marketed as a medicine to cure headaches and nervousness?
Coca Cola
Amur has 3 EBO options.
Name all 3.
1. Standard
2. NBV
3. OEC
A discounted deal has a TIP over $1,000.
There is a recent bank statement in the attachments. The sales rep is looking for expediated funding and cannot wait the mandatory 3-4 day hold.
Who can review bank statements and make an exception?
You must write a note in the deal @ either Credit Manager (Andy) or Funding Manager (Julia) to review and provide an exception.
If a titled deal funds right before the end of the month and the rep is able to get you the proper documentation to fully fund - we are allowed to back date the funding date to have the reps commission count for the previous month.
True or False?
True
Titled Deal.
We have been funded the commission and vendor is paid. The funding source is handling the titling. Since EVERY titled deal is treated as a true prefunded. Please explain the next steps
1. What stage does the deal belong in?
2. What do you add to attachments besides the payment notices?
3. What does it take to move deal to funded?
1. Stage is Prefunded
2. Add shipping label
3. Funding source must confirm they have the completed and correct title.
What is the main ingredient in guacamole?
Avocado