Frequently Asked Questions

Point of sale financing is when a merchant offers financing to customers as an alternative to a credit or debit card. Much like a consumer financing a car purchase from a dealer, financing is available for retail purchases, home improvement services and healthcare.

Novae Financing enables merchants like retailers, home improvement contractors and healthcare providers to offer financing to their consumers, making purchases more affordable with buy now pay over time payment options.

More than ever consumers are choosing financing options over using credit cards and cash to pay for higher priced products and services. By providing convenient and competitive financing options, you can attract new customers by allowing them to buy now and pay over time.

Your customers complete one easy application to prequalify for financing offers from our multiple lending partners, without it affecting their credit. In real time, your customers are presented with prequalified offers to review before making a selection. When a customer accepts an offer, a hard credit pull is performed to approve the applicant and complete the transaction.

Customers can complete a contactless application on their own device from home, in an office, or in a store.

There are no customer fees and there is no hard credit pull for customers to receive prequalified offers. Only after an offer is selected will a hard credit pull occur.

Novae Financing offers installment loans, revolving lines of credit (credit cards), no interest promotions and lease-to-own products.

Our installment options are up to 84 months, with interest rates range between 0-23.99%. We support orders between $500–$35,000.

Novae’s platform is "direct to merchant" which means once your customer is approved for financing, the merchant receives payment. Payments are made directly to a merchant’s bank account through electronic ACH.

As part of the Novae Financing merchant underwriting process, our lenders require merchants to provide details including Federal Tax ID number, company owner’s social security number, and annual revenue in addition to basic contact information. Once your application is approved, you’ll be asked to provide bank account details so you can receive direct deposit payments.

It's simple. You fill out our online application and through our automated underwriting process, we could have you up and running in as little as 24-hours!

There is a merchant enrollment fee of $495 upfront, of which includes a non-refundable $250 merchant underwriting fee required for all merchant applications submitted to Novae Financing. If your application is denied for any reason, you will be refunded $245 to the credit card used for the $495 setup fee. There will be a $50 per month portal access fee to manage your clients charged to the credit card used for the $495 setup fee.

Currently there is no contract and you can cancel this agreement at any time.

Get started today!