Now That You’ve Been Approved For Financing,
Here’s What To Expect During the Post-Approval Process.
There are 5 SIMPLE STEPS in the post-approval process, designed to verify your identity and allow you to e-sign via DocuSign.
1. VERIFY
During verification, you will be asked to provide a copy of:
- Your unexpired Driver’s License
- Voided Check (name on check must match the name of the borrowing entity or borrowing individual AKA Personal Guarantor)
- A unique email address that only you have access to (for e-signature)
2. VALIDATE
Using Knowledge-Based Authentication (KBA) you’ll answer a series of randomly generated questions asking to confirm things like your legal name, SSN, DOB, and address to validate your identity. After you complete the KBA questions, you’ll be able to access, view, and sign the e-docs via DocuSign.
3. SIGN
Once you have validated, you will receive the Equipment Finance Agreement with the agreed-upon terms via a “DocuSign” package to execute. Then you’ll be able to follow the steps via email to complete the signature process.
*in some cases you may be asked (or prefer) to sign docs via another method. If so the Greenwoods will communicate the process and guide you through every step.
4. CONFIRM
You’re Signed!
As a final confirmation, you will receive a call from Greenwoods Equipment Finance to complete a verbal verification to Fund your equipment manufacturer/vendor.
During this call, you will also need to verify:
- Your business Federal EIN#
- Address of where the equipment is to be located
- And confirm payment information on file
*Please note, this may take place before the delivery of the equipment and is related to the effective date of your agreement
5. PAY
And that’s it. The last step is payment.
If eligible for a deferral, your payments will begin the month after the deferral period and be automatically withdrawn from your checking account on the 1st of each month. Payments will appear on your bank statement as “Greenwoods Equipment Finance”
As your payment will remain the same for the life of the contract, you will not receive monthly statements, nor is account info currently available online. For questions regarding your Equipment Finance agreement you can contact GEFServicing@greenwoods.bank