Although Pay Later powered by Slope* offers clients unprecedented flexibility when paying invoices, not every client will qualify. The underwriting team undertakes thorough credit evaluations before credit limits and terms are offered.
Included below are the basic criteria to qualify for a Pay Later plan. Please note that every case is unique and meeting the minimum eligibility does not guarantee that terms will be offered.
Incorporation
- Pay Later is only available to incorporated businesses in the U.S.
- Companies must be domiciled (or have an entity within) the United States.
Company Trading History
- Companies must have been incorporated for at least 12 months in the United States
- Companies must show a minimum 6 months of banking history
- Companies must not have any past-due payments from other creditors
Cash Balances
- Companies must have at least 6 months of cash runway
Sector
- Companies must operate within an acceptable sector and area of business activity
- Businesses in sectors that are deemed to have high reputational risk (ex. arms manufacturing) may not be eligible.
- Additionally, there is minimal appetite for lending to other lending businesses and as such, if a client operates a lending business, enhanced diligence may be required.
If your client meets the above criteria and is looking for flexible payment terms, they should submit a Pay Later application via the platform. If you or your client have any questions about eligibility, the application, or Pay Later in general, please reach out to your Tranch account manager.