Merchant FAQ

Common questions from businesses like yours

Written by Emily Madden
Updated over a week ago

Table of contents


How does the process work?

Customers will fill out a short online application either at your store or from their mobile device. Once your customer is approved and we have the information from the invoice, customers sign the lease agreement electronically. Then, you confirm delivery with Koalafi. Upon receiving confirmation of delivery, we will fund your account within 72 business hours.

How much can my customers be approved for through Koalafi?

Qualifying consumers may be approved for up to $7,500 in lease-to-own financing or $10,000 in loan financing.

How soon will my account be funded?

Koalafi will initiate funding your account within 48 hours after the customer receives the merchandise and you mark the items as delivered in the merchant portal. Funding will be initiated on Mondays for all leases processed Saturday and Sunday. Our funding department is open Monday-Friday.

Once I become a Koalafi partner, how soon can I start financing customers?

You can instantly start financing customers! To help you become more familiar with Koalafi, we offer free training sessions and online resources to help you better provide Koalafi to your customers. Once you sign up, you will be given login information for your merchant portal, which allows you to stay up to date on the status of your customers’ applications.

What are my obligations to the customer and Koalafi?

  • To the best of your ability, correctly explain our financing plan

  • Verify that all signing documents are correct and accurately signed and dated by the customer.

  • Verify the identity of customers by checking photo ID.

  • Once all of the final documents are signed, all the items have been delivered, and your account is funded, your obligation is limited to the customer service you would provide for repairs/servicing to all customers.

What types of merchandise does Koalafi finance?

Koalafi finances durable goods such as furniture, appliances, mattresses, and tires. These categories are general guidelines, and not all items in these categories are leasable. Contact merchant support to discuss your unique business needs.

Not sure if an item is leasable? It needs to meet these requirements.

  • The total cost of your leasable items is more than $200

  • For personal, family, or household use

  • Durable and likely to outlast the term of the lease

  • Returnable

  • A physical good that you can use and touch

  • Safe and doesn't cause excessive harm to you or others

Learn more about what items are leasable and not leasable.

How can I start offering Koalafi financing?

To apply with Koalafi, complete this form. We’ll ask you some basic questions about your business, including your Tax ID/EIN, and get your contact information.

Please note that offering lease-to-own financing is prohibited in Minnesota, New Jersey, Vermont, Wisconsin, and Wyoming.

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