Wisetack is a pay-over-time option made especially for home improvement companies that offer services like decks, fence building, foundation repair, waterproofing, concrete lifting, spray foam, roofing, turf, pest control, garage doors, and many more.
Action Items
- Get started by applying to be a merchant from within Contractor Accelerator's Company Profile under the Integrations section.
- Review the information below.
- Ask questions to Wisetack by emailing support@wisetack.com or calling (833) 927-0333
- Schedule a Meeting with the Wisetack team for even more details.
- Check out these quicklinks from Wisetack
After signing up for Wisetack, you can offer your customers the option to pay monthly for your services. You get paid 1 to 3 business days after completing the job, while they pay over time.
Table of Contents
How to Apply as a Merchant
Wisetack Settings and Add-Ons
The standard Wisetack merchant approval in Contractor Accelerator includes a 3-month 0% APR financing option, allowing customers to pay over 3 months time without interest. For businesses wanting to offer longer 0% APR terms, options for 6, 12, and 24 months are available as Add-Ons. To offer these extended financing options to your customers, follow the instructions below. You will get an email confirmation after you select your new plan.
How to Enroll in Extended 0% Terms
Follow the instructions below to update your 0% APR offerings directly in Contractor Accelerator
- Primary Users can find the Company Profile by clicking on the user icon in the upper right corner of the screen and selecting Company Profile. (To find the user icon on a tablet or mobile device, select the 3-line hamburger menu on the top right of your screen.)
- Select Integrations on the left side of the screen.
- Click Wisetack on the top menu.
- Click Settings and select your desired plan.
- Click Save.
- You will receive a confirmation email from Wisetack.
What happens next?
When you're enrolled in a 0% APR add-on, nothing will change in your day-to-day. If your customer qualifies, a 0% APR financing option from your selected add-on plan will simply appear among the financing options they will see in an application.
Your merchant fee will change based on the 0% option your customer picks. For example, if you choose to offer 0% APR for up to 12 months, qualified customers will see 3, 6, and 12 month 0% APR options. All options above 12 months would be interest-bearing.
When you decide to enroll in one of these add-ons, your transaction fee will vary based on the financing option your customer chooses. However, you only pay the higher fee when a customer qualifies for and selects an extended 0% APR option beyond 3 months. Otherwise, you pay the standard 3.9% fee.
Customer qualifications for 0% APR options
Wisetack looks at a variety of factors when determining eligibility such as credit score, loan amount, income etc.
When enrolling in 0% options, this does not guarantee your customer will qualify for a 0% option. Therefore, it is recommended to not promise any specific pricing to your customers.
*All financing is subject to credit approval. Your terms may vary. Payment options through Wisetack are provided by our lending partners. For example, a $1,200 purchase could cost $104.89 a month for 12 months, based on an 8.9% APR, or $400 a month for 3 months, based on a 0% APR. Offers range from 0-35.9% APR based on creditworthiness. No other financing charges or participation fees. See additional terms at http://wisetack.com/faqs.
Using Wisetack Inside Contractor Accelerator
Application Statuses
Once your customer completes a financing application through Wisetack, you'll be able to see their status directly in your Wisetack Merchant Portal. Here’s what each status means so you can better understand where your customer is in the process:
Prequalification Statuses
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Prequal Started
What your customer needs to do next: Keep going — they haven’t entered enough to see their eligibility yet.
What this means for you: Your customer has started the application but hasn’t seen their spending power yet.
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Prequalified
What your customer needs to do next: Your customer can see their spending power, and once you’ve settled on the price, they can lock in their offer after you send them a loan application.
What this means for you: Both you and your customer can see their spending power. Once you’ve landed a price, send them a loan application.
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Prequal declined
What your customer needs to do next: No additional steps are needed. We are unable to provide this customer with prequalification through Wisetack at this time.
What this means for you: Unfortunately, we were unable to approve your customer’s application. They will need to pay using another payment method.
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Prequal expired
What your customer needs to do next: Their prequalification has expired, and they need to complete a new application.
What this means for you: Their prequalification expired. If your customer would like to re-apply, send them a new application.
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Prequal canceled
What your customer needs to do next: If this was done by mistake, your customer can check their eligibility with a new application.
What this means for you: You can send them a new application if the application was canceled by mistake.
Loan Statuses
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Pending
What your customer needs to do next: Keep going — they haven’t entered enough info to see an offer yet.
What this means for you: Your customer has started the application but hasn’t seen what they’re eligible for yet.
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Action required
What your customer needs to do next: Check their email and follow the instructions — often, this is as simple as accepting and signing their offer.
What this means for you: Your customer has viewed their offers, but they haven’t completed the application yet.
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Offer locked
What your customer needs to do next: Once the work is completed, hit the confirm button.
What this means for you: Your customer has completed their application and been approved for Wisetack financing. Now complete the work — their offer is locked in for 90 days.
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Confirmed
What your customer needs to do next: Look out for emails detailing how to begin their monthly payments.
What this means for you: Yay! The customer has released the funds — you’re all set and should receive funds in 1–3 business days.
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Paid
What your customer needs to do next: Sit back and enjoy the work you delivered.
What this means for you: Wisetack has sent the funds to your business.
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Declined
What your customer needs to do next: No additional steps are needed. We are unable to offer financing through Wisetack to this customer at this time.
What this means for you: Unfortunately, we were unable to approve your customer’s application. They will need to pay using another payment method.
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Expired
What your customer needs to do next: Your customer can re-apply with a new application or can pay by another method.
What this means for you: The purchase has expired (after 90 days). If your customer would like to reapply, send them a new application.
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Canceled
What your customer needs to do next: If this was done by mistake, your customer can re-apply with a new application or pay by another method.
What this means for you: This purchase has been canceled by request from the applicant or provider. If your customer would like to reapply, send them a new application.
Learn more about these statuses in Wisetack's Help Center by clicking here.
Prequalifying Customers
Prequalifying customers for financing is an important step for repair contractors. It helps confirm that customers have the financial capability to pay for the services, reducing the risk of payment issues. This process also gives customers and your sales team a clear understanding of their budget, which aids in accurate project planning and upselling. Additionally, prequalification can improve customer satisfaction by demonstrating professionalism and support in managing their financial commitments.
You can offer prequalification to your customers in a few ways.
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Email: Add the customer's unique prequalification link in your Sales Appointment Confirmation and Reminder emails for an automated way to request a prequalification.
- Follow the instructions located in this linked Help Center Article to edit your emails and Add the Tag for Wisetack. Be sure to click the eyeball icon in the top left of the textbox to preview how your email will look in your customer's inbox and always remember to Save your work.
- If a customer engages with this link, the Project Overview page will update the Wisetack Section to show Pending. Once the customer has been preapproved, users will see the preapproved amount as well.
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Text Link: Text the link to customers whenever you see fit from within the Project Overview page.
- Click the Send Prequalification Link button in the Wisetack section of the Project Overview. (Note: confirm the cell phone number prior to sending)
- If a customer engages with this link, the Project Overview page will update the Wisetack Section to show Pending. Once the customer has been preapproved, users will see the preapproved amount as well.
Loan Information and Application Links
During bid creation, the "as low as" amount can be seen by the user by clicking the $ in the left-hand menu to open the financial data for the bid they are creating. This information will be updated as changes are made during bid creation but will not be finalized until the bid is finalized.
The bid that is sent to the customer has a text box with information about financing options for your customer, which will appear on the bid under the payment terms. When the bid is in preview, the financing terms will appear as blanks as a sample for users. However, the dynamic calculation will appear on the left panel tool options under the Cost section. Once the bid is finalized, the system will show payment amounts and timelines within the bid.
This information will also appear on the Acceptance Page under the Accept Bid section.
In both areas, customers can click the "See Financing Options" link to apply for their loan.
Partial Loans
Users can also send a loan application for a partial amount directly from the View Details section of the Bids tab. This is helpful when a customer wants to pay the deposit by check, card, or another payment method and only finance a portion of the project. From the Bid Details page, users can enter a specific dollar amount for the Wisetack loan so the customer can split the payment between two payment forms.
Follow the instructions below to send a loan application for a partial amount.
In the Bids tab, click View Details on the far right of the bid you want to finance.
Select the Send Financing Application button.
Enter the loan amount the customer wishes to finance.
Click Send.
The customer will receive a financing link for the partial amount, allowing them to split the project total between two payment methods.
Downloadable Media
Contractor Accelerator's Media feature allows users to add additional information to a bid. We always encourage users to contact their suppliers and partners to obtain these types of files. Wisetack has provided a couple of downloadable options for us to share with you here. Click the link below to download the PDF documents.
- Editable file to add your information - Click here to download
- Static file that does not need any edits - Click here to download
**Please Contact Wisetack with questions about promotional content.
Dashboard
Easily manage all aspects of consumer financing within the platform. The dashboard provides a comprehensive view of all active loans, pre-qualification status, and any open or awarded bids that haven't yet been provided with a loan application, highlighting new opportunities.
- Go to Reports in the top Navigation
- Click Financing Dashboard
- Update the date range on the left
- Click through the Prequalification, Loan Application or Oppertunies Reports across the top
The left sidebar on the dashboard displays key metrics related to Wisetack financing over time. You can also adjust the date range to customize your internal reporting and gain insights into your team's financing performance.
Commonly Asked Questions
What does it cost to get started with Wisetack?
Nothing. There’s no implementation cost or subscription fee. You pay a 3.9% fee per transaction when a customer chooses to finance a job through Wisetack. The fee is simply deducted from the total job payment.
What are your consumer rates and terms?
With Wisetack, every offer is tailored to your customer’s credit profile. They don’t take a one-size-fits-all approach to give your customers the best possible chance of approval and the best possible rate, sometimes even interest-free options.
Wisetack offers terms from 3 to 60 months with rates ranging from 0% to 35.9% APR.*
What is the borrower's experience?
The application process is short, so they can commit to working with you faster. Your customer applies right from their phone and can get a near-instant decision 24/7. Checking their options does not impact their credit score. Take a look at the video walkthrough below to see for yourself!
What is the dispute process?
The Wisetack team will collect evidence that the job was completed to the specifications of the contract/invoice. They recommend documenting job completion with photos (which is typically already a part of a contractor's process), and our team will resolve the dispute accordingly.Here is more detail on the dispute resolution process on their website at https://www.wisetack.com/disputes
What do I need to get started?
Here are a couple of things they ask for in the application:
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Federal EIN (Tax ID)
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Information from one or more business owners (25% or more ownership) and one or more executives (if applicable).
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Business bank account verification.
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Note that they do not run a personal credit check.
Why did Contractor Accelerator choose to work with Wisetack?
Easy: It is easy to use and can provide your customer with financing in seconds. Text an application in seconds via the merchant portal. You pay a flat rate of 3.9% per transaction, no hidden fees or tricks. (See Wisetack Add - Ons for more options).
Fast: The application process is short, so they can commit to working with you faster. Your customer applies right from their phone and can get a near-instant decision 24/7. Checking their options does not impact their credit score.
Flexible: It covers big and small jobs with flexible options. Financing is available on jobs from $500–$65,000. Your customers will see up to 6 options from 3 to 60 months with APRs from 0% to 35.9%.*
Free: Your sign-up as a merchant is free and takes less than 5 minutes. Sign Up Now
*All financing is subject to credit approval. Your terms may vary. Payment options through Wisetack are provided by our lending partners. For example, a $1,200 purchase could cost $104.89 a month for 12 months, based on an 8.9% APR, or $400 a month for 3 months, based on a 0% APR. Offers range from 0-35.9% APR based on creditworthiness. No other financing charges or participation fees. See additional terms at http://wisetack.com/faqs.
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