Finance up to 80% of any restoration job with EarlyPay.
DocuSketch is partnering with Slope to help you finance any restoration job when you use DocuSketch products.
No more waiting for months to get paid back, EarlyPay facilitates up to $1M or more in financing within 1-2 days so you can focus on growing your business. Then you can choose when you repay up to 120 days later.
What is EarlyPay?
DocuSketch has partnered with Slope to offer project-level financing to restoration companies. With DocuSketch EarlyPay, long cash flow cycles are a thing of the past. Now you can take on more projects and focus on growing your business with easy access to capital when you’re about to start a job.
Once you’re pre-approved, you can simply upload an estimate and signed work authorization and get 80% of the estimate value within 1-2 days (up to your business’ approved limit)
To be eligible, you must be a DocuSketch customer using DocuSketch products for a given project and also meet the following minimums:
- Greater than $100,000 in annual revenue
- Minimum 1-year in business with banking history (3-year minimum for lines above $100,000)
Affordable, Flexible, and Fast
Low Rates
Fees as low as 0.99%* on Net 30. Using a card? Earn card reward points on repayments.
Repay early your way
Repay early anytime and save on fees. Need to split your bill using multiple cards? You can repay any amount using different payment methods.
Instant pre approval
Get pre-approved within seconds. Receive EarlPay financing and receive up to 80% of the claim within 1-2 business days of approval.
Choose Terms, Pay Later
Pay in full up to net 60 or pay in installments up to net 90.
The examples and fees listed on this page are illustrative, actual fees are based on but not limited to your revenue data, credit bureau data, connected bank balance, vendor, bill amount, and other factors.
EarlyPay FAQ
Once approved for financing, customers can request to finance individual projects up to their limit. Specifically, the financing works as follows:
- The customer applies and receives approval for a financing limit* with pre-set pricing through Slope in partnership with DocuSketch
- The customer can then choose to finance up to 80% of any project with a docuSketch sketch or estimate, net of a down payment paid by the insured or insurance company (within the available financing limit).
- The customer selects repayment terms and confirms pre-set pricing for the chosen term
- Once selection is made, funds will be deposited into the customer’s bank account
- The customer repays financed amount + interest on specified repayment date(s), or prepays anytime with no penalty and prorated interest
- Upon repayment, the used portion of financing limit is freed up for borrowing for another project
The application process is simple, straightforward, and transparent, with the
following steps:
- Online application (~5 minutes, for up to $100K pre-approval)
- Takes ~5 minutes
- System might issue an auto approval in seconds; human second look /
follow-ups in select cases with no system approval - Key information needed:
- Each beneficial owner’s SSN
- Authorization for a consumer credit soft pull from one beneficial
owner or control person (eg senior executive) - Business bank account connections via Plaid
- See our application guide for a full list of information needed + step-by-step instructions
- Manual underwriting (for higher limits*; ~2BD turnaround by Slope), with:
- YTD financials + last 2 years’ tax returns (audited financials
acceptable if latest tax return not finalized) - Loan statements for debt >$200K (required only for >$250K limit
with Slope) - Up to 30-minute routine diligence call, as needed
- YTD financials + last 2 years’ tax returns (audited financials
Applying will not impact personal credit scores. Slope performs a “soft” pull on the owner/control person’s personal credit, which doesn’t affect personal credit scores.
Similar to the requirement for bank connections from insurance third party administrators in order to assess your financial health, we rely on bank connections to assess the credit strength of your business and determine the appropriate credit line / interest rate* for you. Bank connections allow us to underwrite businesses in a matter of seconds.
For additional information, please check out our Link Bank Account FAQ.
Slope currently offer the following term options:
- Net terms: 30, 45, or 60 days
- Installments: 2 equal payments over 60 days (day 30 and 60), or 3 equal payments over 90 days (day 30, 60, and 90)
Customers can prepay loans anytime without penalty and with financing fees prorated based on actual number of days borrowed.
Your pre-approval amount will vary based on various credit factors so the best way to find out about your financing limit is to apply.
Our automated system approval is capped at $100K, but eligible customers will also be manually assessed for a potentially higher limit*.
- Once you’re approved, we reassess your business for line increases from time to time, as you accumulate payment history and expand
This program offers competitive rates based on each customer’s risk profile. The best way to find out about your pricing is to apply.
- No Hidden Charges: Our cost of borrowing is straightforward – no extra fees for applying or maintaining your financing limit; only “What You See Is What You Get”
*Slope and DocuSketch are not banks. Business-purpose loans made by Lead Bank and subject to credit approval. Application required and personal guaranty may be required. Subject to minimum revenue and business requirements. Fees vary based on loan amount and fees range from 0.99% to 5.05%. Approval amounts vary based on various credit factors.
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