Understanding Processing Fees: What They Are & Why They’re Applied
We believe in transparency, especially when it comes to fees. So if you’ve seen a processing fee during the loan application process and wondered what it’s for, you’re in the right place.
Here’s everything you need to know about how our processing fee works, why it’s applied, and where you can find it.
Why Is a Processing Fee Applied?
Our processing fee helps cover the administrative and operational costs involved in reviewing and managing your customer's loan application. These include:
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Credit checks
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Document verification
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Internal processing systems and staff time
When Is the Fee Applied?
The processing fee is applied at the moment a customer applies for and accepts the terms of their payment plan. Specifically, it's included in the consumer’s down payment. This fee varies based on the providers program.
Where Can You See the Fee Amount?
We make sure the processing fee is clearly visible at multiple stages in the process:
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Step 5 of the application workflow (in the down payment section)
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The confirmation page, once the payment plan terms are accepted and the down payment is processed
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The confirmation email sent to the consumer
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The servicing section of the customer’s payment plan in the Provider Portal
Are Processing Fees Refundable?
Because the fee covers real work already completed, like credit checks and document handling, it is non-refundable, even if the loan is canceled or adjusted later on.
We strive to keep our fees transparent and fair, reflecting the actual cost of processing each application.