Frequently Asked Questions
Below you’ll find answers to the questions we get asked most about with the QuickFi mobile application for business equipment buyers.
Innovation Finance is a technology platform serving the equipment finance industry.
QuickFi is the industry’s first 100% mobile application that allows you to initiate and complete equipment financing in less than 3 minutes. QuickFi is designed for business decision makers and innovators.
Speed: Finance whatever you need in 3 minutes or less.
Flexibility: Access your funds 24/7.
Transparency: Fixed interest rates throughout the life of your loan.
Complete Control: No back and forth emails, phone calls, or lunches with salespeople. You initiate financing on your time.
Security and your privacy are our greatest concerns. QuickFi implements a variety of top-tier technologies to keep you, your company, and your information secure.
Biometric login, smartphone authentication, and driver’s license verification are examples of QuickFi’s security features. These mobile-only features are proven to be more secure than web-based and paper-based alternatives.
Signed contracts are placed on a private blockchain secured by a public hash to ensure they are immutable and auditable.
Your personal and company information is always encrypted. QuickFi login passwords are not kept on record.
Most types of personal property used in business (including most types of business equipment) are eligible for financing through the QuickFi application, including up to 25% software, services and other soft costs. Real-estate and permanent fixtures to real-estate are not personal property and are therefore not eligible for financing through QuickFi.
Your equipment must reside within the United States.
QuickFi clients pay a low fixed rate of interest for 100% financing of new business equipment including up to 25% software and soft-costs. The exact annual percentage rate (APR) is stated in the mobile application, for each available financing option, before it is selected. The APR is based on the creditworthiness of each individual applicant. Existing customers with a timely repayment history may see increased credit limits and reduced interest rates based on our long-term relationship with you and your company. After a loan is consummated, if market interest rates change during the loan term, the payment amount remains fixed.
- Initial credit limits are based on your company’s credit profile, and may be increased over time based on timely repayment of prior loans and leases.
- Transaction sizes processed through the QuickFi application range from U.S. $5,000.00 to $5MM.
- None. There are no loan fees. There are no charges relating to documentation, loan initiation, lien perfection, UCCs, etc.
- If repayment is timely, the borrower will pay no additional fees.
- The QuickFi app is free to download and use.
Vendors are typically paid one business day after the transaction is completed by the customer in the QuickFi mobile application.
No – QuickFi is a mobile application. However, after completing a transaction in the QuickFi mobile application, you can view your transaction history and details on a desktop computer by exporting the data from the QuickFi mobile application into a spreadsheet and then emailing it to yourself or others.
No – as long as your company does not have any outstanding balances, you can stop using QuickFi at any time with no penalties.
Or Live Chat with us via the QuickFi app.