LendingUSA™ Introduces FastScreen™, a New Tool for Loan Pre-Qualification for Funeral Home Merchants
- FinTech StartUps
- 05.01.2022 08:00 am
LendingUSA, an award-winning point-of-need fintech company, announces FastScreen, a new feature that allows funeral merchants to quickly and easily pre-qualify families before a loan application is completed.
LendingUSA, a leading point-of-need financing company, introduces a new tool to its robust merchant portal. Called FastScreen, the tool allows LendingUSA funeral merchants to quickly determine whether a customer is likely to be approved for a loan through a quick prescreen.
"We noticed a pattern in feedback from our funeral merchants—conversations about money are almost always uncomfortable, and no one wants to be the bearer of unnecessary bad news when a loan application is declined," says David Rueda, Executive Vice President at LendingUSA. "FastScreen empowers merchants with information that allows them to selectively offer financing to families who are more likely to be approved."
With a simple interface that requires only basic customer information, a FastScreen can be completed before the "cost conversation" even begins. When a funeral professional knows that a customer is likely to be approved for a loan, he or she can confidently offer financing through LendingUSA without fearing an uncomfortable discussion.
Beginning December 9, 2021, LendingUSA funeral merchants will have access to FastScreen through their online merchant portal. When completing a FastScreen request, the funeral merchant will be prompted to provide the customer's name and address. Within seconds, FastScreen renders a prescreen decision. If the customer is pre-qualified, they can tell their customer the good news so that they can proceed and complete the standard application form. If the customer is not pre-qualified, the funeral merchant can opt to focus on other payment methods.
"We believe that FastScreen is going to positively impact our funeral merchants by making it easier to offer financing only when appropriate," says Rueda. "Now, the entire transaction can be less stressful for everyone involved. We look forward to continuing to advance our product to provide a better experience for both merchants and customers."