Support Page

Applying for KoverlyPay

Nov 14, 2022

Need more time to pay your bills? Want the opportunity to purchase bigger deals when you want without the constraint of cash flow?

KoverlyPay is a credit line that works within the Koverly platform. Koverly will pay your invoice(s) and you select an installment plan to auto-pay Koverly back at a fixed weekly or monthly rate. It is simple, fast, and affordable. Let's get started!

Create a free Koverly account:
Sign up for a free Koverly account today! For more information on setting up your account visit our support page.

Once you have logged in you'll be brought to the homepage. The KoverlyPay tab is the first on the left-hand column. Click on the orange button "activate KoverlyPay", read over the steps, and select continue!

Activate KoverlyPay
List of steps for KoverlyPay
Review Application Process

Step 1: Business revenue

You will be prompted to select a range of your current business revenue.

‍Step 1: Business revenue

Step 2: General business information

We want to get to know your business! Fill out what type of business entity you have, industry, legal name, tax ID issued number, and website.

Step 2: General business information

Step 3: Business location and contact info

Provide us with your business's location and business contact info (i.e. main office line and front desk email)

‍Step 3: Business location and contact info

Step 4: Leadership

Enter the first and last name of the primary contact from the executive team. Following with their address (which can be the same as the business's address).

‍Step 4: Leadership

Step 5: Ownership

Add at least one individual who owns 25% of the company. Additional information is needed such as date of birth, last 4 digits of *social security, and personal phone number.

‍Step 5: Ownership

Step 6: Banking details

Connect with Plaid, a trusted banking partner of Koverly's. Plaid is a fintech company that safely and securely verifies bank accounts, analyzes categorized transaction data, and verifies assets for lending. Making it easy for users to connect their bank account to Koverly.

Step 6: Banking details

Scroll or use the search bar at the top to find your bank.

Step 6: Plaid

If you can not find your bank in Plaid's directory click the "X" in the top right-hand corner. You will be redirected back to Koverly and asked to upload the company's last 3 bank statements.

Step 6: Plaid select you bank

Please title the statement files as such:

Name of company_bank name_Statement_Month(3 letter abbreviation)_Year (4 digits)

Example: koverly_bankofamerica_statement_nov_2022

Step 6: Banking details - plan B

Step 7: Review and confirm

After reading the agreement, check the box and click "agree and continue" Once you have completed these steps you will get an email confirming the submitted application.

Our team will review your application. You will receive an email within 2 business days or less approving or disapproving your credit line. If you have not received an answer for more than 2 business days please contact us.

Once you are approved, you can immediately use your allotted credit!

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