How to apply for Pay Later for Business with Slope
Before getting started with your application, we recommend having the following information available:
Business information: legal name, tax ID, address, phone number, email
Last year's approximate revenue
Name, date of birth, SSN, and home address for each individual owning 25% or more of the business, plus one senior business leader (e.g., CEO, CFO, President) - this is required by federal regulation
Authorization from one such owner or leader for a consumer credit soft pull - this will not impact credit scores
Login credentials to securely connect all business bank accounts with Plaid - this helps us prevent fraud and issue approvals in seconds, without access to your credentials. (Learn about Plaid safety here)
The application process takes about 5 minutes from start to finish. At the end of it, you may be automatically approved for up to $250K, or we may request additional information before a credit decision is made. we will also guide you on next steps, if you're interested in and potentially eligible for more than $250K in financing.
For any questions during the application, contact us at support@slopepay.com. We'll respond with one business day!
On the following page, you'll see some information you previously provided; please review for accuracy / updates, and fill in any gaps.
"Your minimum required funding" - the estimated line size that will meet your Alibaba purchase financing needs. Bear in mind that this is a revolving line that you can re-use after repayment.
We'll then ask you, the applicant, to provide your information, so we can be in touch if we have any questions regarding your application. If you have significant control over the business and/or own at least 25%, please check the respective boxes.
If you own 25% or more of the company, you will need to provide the following: name, DOB, SSN, and personal address - as required by US regulations.
Then, you can also add any other people who own 25% or more of the business.
Once you've added all applicable people, you'll be asked for consumer credit authorization.
Select an owner or leader that you'd like to authorize a soft pull on their consumer credit. This doesn't impact the individual's personal credit score. For best approval odds, choose someone with a strong personal score.
If you're not the person authorizing the consumer credit pull, we will email him / her asking for their permission. Please remind them to complete the authorization, so we can move forward with your application review.
If you are the individual authorizing the pull, enter in your DOB and SSN for verification, before confirming your authorization.
You will then be directed to connect your bank accounts via Plaid. Please connect all your business bank accounts with meaningful transactions. This is key for us to give your the appropriate limit, according to your business financial performance.
Got any concerns? Learn about why we ask for bank connections, and why it is safe to do so.
After you've connected your business bank accounts via Plaid, you'll see a review screen before submitting your application.
Voila! You'll be notified in seconds whether you're approved, along with your available terms and pricing:
After approval, we need just two quick steps to finish setting up your account!
First, choose or add a default repayment method for your future Pay Later for Business orders. We'll automatically charge this method on each due date. You can change this selection later in your Slope portal.
As the last step, set up a password for your Slope account, so that you can easily log in at pay.slopepay.com in the future to view your balance and available limit, upcoming repayments, manage your loans and payment methods, etc.
Congratulations - you're now all set to start using Pay Later for Business on Alibaba.com!