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Best Egg is an online lending platform that has facilitated over $5B in loans to consumers across the U.S. Its online application is quick and easy to complete. Customers can check to see what loan rates they qualify for without impacting their credit score and our customers receive their funds deposited into their bank account in as little as one business day. With fixed APRs and no prepayment penalties, customers can get the money they need to pay you fast and hassle-free.
Customers will be offered payment and financing options when they view your estimate or invoice. They will submit an application, quickly see if they qualify for a loan, and what loan offers are available to them. If they select a loan offer, they will need to provide a valid bank account in their own name. We also may require them to verify information that they provided on their application such as employment and income.
Financing represents one of the many options your customers can utilize to pay invoices. When a customer takes a loan through Best Egg, they will receive the money in their bank account and can use those funds to pay via check, debit card, ACH, etc. Invoice2Go is not involved in this transaction, which means your customer has the power to pay through whichever payment methods are accepted by your business.
Best Egg loans are offered to customers who have demonstrated a credit history of on-time repayment of debt, are in good credit standing and have sufficient income to repay their loan in addition to any other debt they may have.
Best Egg personal loans have fixed rates between 5.99% – 29.99%, loan amounts between $2,000 — $35,000 and repayment terms of 3 or 5 years.
Upon loan approval and subject to verifications, we will deposit the loan proceeds directly into your customer’s bank account. Your customer can then choose to pay you via check, direct deposit, card, etc. Invoice2Go is not involved in this transaction, and it is solely between Best Egg and your end customer.
There is no cost to you for the financing we provide to your customers.
Since we deposit money into your customer’s bank account, they are able to pay you via cash, check or ACH. This is a good way to avoid costly credit card charges.
It provides a valuable way for your customers to finance your product or services over 3 or 5 years with fixed payments. And there’s no penalty for pre-payment.
For the time being, your customers can only take personal loans from Best Egg.
This financing pilot is only available in the United States. Please note, loans will not be issued in:
Financing is only available on unpaid invoices or estimates worth more than $2,000. For more information related to financing offers, please click here.
Your privacy is important to us. Invoice2Go does not share any means to identify you or your business.
Customers can have the money to pay you in as little as one business day. About half of our customers get their money the next day, and nearly all within three days. This means it’s a shorter wait time for you between invoice and payment.
When users apply for a Best Egg loan, we generate a soft credit inquiry. This will not impact their credit score. If they accept a loan offer to pay for your service, Best Egg generates a hard credit inquiry, which may impact their score.
We consider the information they provide on their loan application and credit profile reported by credit bureaus—which includes credit score, and how much money they owe compared to how much money they earn (debt-to-income ratio).
Each Best Egg loan offer has a fixed Annual Percentage Rate (APR) which is the interest rate plus an origination fee. Rates are based on the information in their application, credit profile, and the terms of the loan. The origination fee is a one-time fee that is deducted from the loan proceeds deposited in your customer’s bank account.
Interested in allowing your customers the option to pay via financing? Enroll here.
If you do not wish to participate in the pilot, you can unenroll through the first email you received about Best Egg financing via the ‘Unsubscribe’ link, or Unsubscribe here.
Best Egg loans are unsecured personal loans issued by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC.
For more information visit bestegg.com, or give us a call at 855-282-6353.
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