Overview
This feature allows buyers to add business owners, complete a soft credit check, and sign a Personal Guarantee directly from the Buyer Dashboard.
Step-by-Step Guide
- Accessing the Personal Guarantee Tab
- Log in to your Accounts Payable Dashboard
- Navigate to the “Settings” page
- Click on the new Personal Guarantee tab
- Adding Business Owner Details
- In the Personal Guarantees tab, you’ll see a table labeled Business Owners.
- Click the 'Add a business owner' button.
- Fill out the required fields in the modal
- Submit the form (this will perform a soft credit check in the background)
- If the soft credit check is successful, you’ll proceed to the next step. If not, a message will appear informing you of next steps.
- Signing the Personal Guarantee
- After submitting the form to add a new business owner, a new modal will appear with the Personal Guarantee language.
- Review the language carefully.
- Sign it electronically by following the on-screen instructions.
What Happens After Signing?
- Confirmation Email: You’ll receive an email with a PDF copy of the signed Personal Guarantee.
- The signed guarantee will be stored in two places:
- The Records tab in your Settings page.
- The Personal Guarantees tab under “Business Owners,” showing:
- Which business owner signed it.
- The date it was signed.
- Our underwriting team will be notified and will review the results of the soft credit check. You will be informed of their underwriting decision via email. This usually happens within 1 business day.
FAQs
Q: Will my credit score be affected?
A: No. A soft credit check allows us to view your credit profile but does not impact your credit score.
Q: Can I add multiple business owners?
A: Yes, you can add as many business owners as needed using the “Add Business Owner” button.
Q: What happens if the soft credit check fails?
A: If the soft credit check is unsuccessful, you’ll be notified immediately and can try again or contact support for assistance.
Q: Is my information secure?
A: Yes, all sensitive information is securely processed and stored in compliance with industry standards.
Need Further Assistance?
If you have any questions or run into issues, please contact our support team at support email/phone number.
This structure ensures clarity and provides actionable steps for customers while addressing potential questions they might have!
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