How To Finance For IHK Employees

IHK Financing How To - For IHK Employees

This pages is designed to help IHK employees navigate through the different financing programs. Please see Laura with any questions.

To view what the customer can see on our website, Click Here.

To submit for approval the finance department needs the following:

1. Credit Application- the customer must fill out a credit application. The application must be PHYSICALLY signed. We can not submit if the customer has digitally signed the application.
2. Drivers License
3. Quote

Which Credit Application Should The Customer Fill Out:

• Residential Homeowner for personal use: Consumer Credit App
  • If the customer wants to claim their partner's income as part of their income, the partner must fill out a separate Consumer Credit App and be listed as a co-buyer.
    
• Using the equipment for business purposes: Commercial Credit App
  • If the business has been in business for less than 5 years and/or makes $500,000 or less in a year, they will also need to fill out a Consumer Credit App to have a guarantor on the contract. This is a requirement from Kubota Credit Corporation
• NOTE: The customer CAN apply for a pre-approval online. HOWEVER, we still need them to fill out a physical credit application in order to capture that pre-approval.

Once approved, the finance department needs the following:

• Stock Numbers
• Delivery Date (Finance Department requires 48 hours to send contract BEFORE delivery. If contract is not signed prior to delivery, the delivery SHOULD NOT HAPPEN.

After Contract Is Signed - the finance department will provide to you a signed Bill of Sale. You will then ring up the invoice to the customer (in HBS) to match the Bill of Sale EXACTLY. Settle the invoice to Financing.

To view what the customer can see on our website, Click Here.

Go to https://secure.sheffieldfinancial.com/ and log in.

Check what financing is available by clicking on "Promotions" - Select a Manufacturer (we only offer Sheffield for Gravely, Exmark, and STIHL Zero-Turns) - Select A Product - Select Loan Purpose - and wait for Promotions to load.

• Note: unlike Synchrony, we can offer any promotion - HOWEVER - we will add the "Dealer Fee" to the price of the unit. Also note the "Doc Fee" that will need to be charged to the customer. "Dealer Fee" is added to price of the unit - "Doc Fee" is broken out separately.

For New Applications - Click Here For Instructions. - Please read through all of the instructions including the "Funding" instructions. SEND ALL DOCUMENTATION UP TO FINANCE DEPARTMENT TO COMPLETE FUNDING. The FINANCE DEPARTMENT will submit for funding. NOT the salesperson.

NOTE: Sheffield Transactions must be the EXACT amount. Example: Customer is buying two Honda Generators - Price of Gen 1 ($1713.36 {$1500+4% Dealer Fee}) + Price of Gen 2 ($3200) + Tax ($506.07) + Doc Fee ($150) = $5,569.43. The transaction amount must be that exact amount and must match on the invoice we ring up for the customer (in HBS). Invoice must be settled to Financing.

To view what the customer can see on our website, Click Here.

For questions regarding synchrony call 1-877-856-8733 - they are very helpful!

We only offer Cutting Edge Revolving Credit through Synchrony. For the customer this is like a credit card.

Our Merchant Number is 5348121790041303

To Process:

Go to www.synchronybusiness.com and log in to the Business Center.

Check what financing is available by going to "Sales Tools" tab, then "Disclosers and Reference Documents"

• Program is either "Cutting Edge Revolving" or "Cutting Edge Revolving - Business"
• Document Category is "Promotions"
• Choose program and print.
• NOTE: We ONLY participate in plans with 2% OR LESS DEALER COST!!!

If a customer already has a revolving account with Synchrony, you may go to "Sales Tools" tab, then "Look Up Account Information" - this will tell you how much credit the customer has open.

For a new application - Click "New Application" on the home page of the Business Center.

• Program Name - either "Cutting Edge Revolving" or "Cutting Edge Revolving - Buisness"
• Application Method - you can either complete it on the computer with the customer, or you can send it to a customer's device.
  
• Employee ID - Leave Blank
• "Amount of initial sale/transaction" - be sure to calculate the full amount of the transaction and then round up. Example: Customer is buying two Honda Generators - Price of Gen 1 ($1500) + Price of Gen 2 ($3200) + Tax ($484.10) = $5,184.10. Then round up - i.e. $5,500 and enter that number for the amount of initial sale/transaction.
• You will need 2 forms of ID
  
• Once the application is complete, print it, and have the customer sign.
• Upload the completed document.
• You will immediately get a message if they are approved or not.
  
• Make sure to make note of their account/card number

To Enter a Transaction - once the customer is approved, you then need to enter the transaction to actually charge their Synchrony account.

• On the Business Center home page click "New Transaction"
• Select the Program Name - either "Cutting Edge Revolving" or "Cutting Edge Revolving - Business"
• Select "Purchase"
• Enter their account/card number.
• When inputting transactions you may only put in 5 lines, if there is more equipment, do 2 different transitions.
• After the transaction is submitted, approved, and printed - the customer signs and the sales person rings up the transaction in HBS, settling to Financing. All paperwork then moves up to the Finance Department for funding.
• Funding is made within 2 business days.