LEASE PROCESS FLOW

1.        Credit

a)      For ExecuTech to be able to pull credit, one of the 3 follow will need to be submitted

1.       A completed and Signed Merchant Processing Application

2.       A completed and Signed ExecuTech Lease Agreement

3.       A Completed and Signed ExecuTech pre-application

b)    Fax or Email one of the three documents to your program manager.  (See welcome letter for program manger contact information)  

d)    EXECUTECH will pull credit from the bureaus and fax or e-mail our response usually within 15 minutes if received by 4PM Pacific Standard Time. Responses include:

•        Approved

•        Declined

•     Pending – We will request additional information

2.        Complete the Lease Package

Lease Package includes:

a)    ExecuTech Lease Agreement completely filled out where the Merchant has signed for the business and the personal guaranty.

b)    A Copy of a Merchant Processing Application with merchant signature.

c)    A voided bank check from the merchant of where EXECUTECH will ACH draw the monthly payment (ACH is required on all leases).

d)    Merchant’s federal tax ID number and merchant’s bank number.

e)    Please Note:  Additional information including financial statements may be required for transactions over $5,000. Applicable taxes must be added to each invoice or payment (depending on state).

f)     Send the COMPLETED lease package to your program manager.

 

3.        Verification

Upon Installation

a)         Upon completion of equipment installation, immediately notify ExecuTech.  You can do this one of three ways (see welcome letter for contact information).

1.       Calling from the merchant’s location

2.       Having the merchant contact us directly

3.       Contacting ExecuTech directly yourself

b)      Unless previously provided, please have the serial number and MID Number ready at the time of confirmation.

c)      EXECUTECH will walk the merchant through a verbal checklist to make sure they understand the terms and nature of the lease.

•        NOTE: We MUST verify with the person who signed the lease.        

e)      ExecuTech is available for verbal confirmation Monday through Friday, 8am-5:00pm PST. 

f)       Submit signed and dated Delivery and Acceptance certificate via fax or email.

4.                   Funding

To fund, EXECUTECH must have:

a)      An email or fax copy of the completed and signed lease package including Delivery and Acceptance Certificate.

b)      We must have a copy of the merchant’s voided check so we can set up the ACH debit account with their bank.

When we have a complete package in hand, we will ACH funds to your account.  ExecuTech offers Next Day ACH if all documents are submitted to by 11:30am PST.  If you have any questions about the process, please contact your program manager.

Congratulations!  You have just funded your first deal with EXECUTECH Leasing Group.