Effective October 1, 2021, EnerBank USA ("EnerBank") merged with and into Regions Bank. Learn more here

PreQualify & How It Can Help Grow Your Business

Posted August 1, 2023 by EnerBank USA

PreQualify from Regions | EnerBank USA

Two of the top reasons why customers decide to use payment options is because of the ease and flexibility*. With that in mind, Regions | EnerBank USA has introduced PreQualify, a convenient way for homeowners to find out how much of a loan they may qualify for before they apply, allowing them to better understand their options. The process can be completed online or in EnerBank’s mobile loan application.

How Does PreQualify Work?

The process is convenient and can be completed in just a few steps online, in the mobile app, or from your website. All your customer needs to provide at this point is some basic information. One of the great parts about PreQualify is that there’s no hard credit check which means there’s no impact to their credit score.

To receive updates on your customer’s prequalification status, be sure to enter an email address for your business at the start of the form. After the customer has submitted their information, you can find their PreQualify status in PartnerPortal.

What Happens After a Customer Prequalifies?

Your customer can easily move forward with their loan application within 30 days of completing their prequalification in one of the following ways:

  • Clicking on the “Continue to Application” button on the results screen.
  • Using the link in the email they receive to return to the PreQualify results page, where they can then continue to the loan application.
  • Continuing their loan application on the phone with our Loan-by-Phone services. Reach out to your relationship manager for the Loan-by-Phone number for your loan program, or you can find it in your activation email.

When a customer decides to apply for a loan after they PreQualify, a hard credit check will take place.

Why Use PreQualify?

With PreQualify, you gain better insight into a customer’s purchasing power. This allows you to recommend products, scope out the job, and easily close the sale. Whether you’re in the showroom or a homeowner’s living room, the prequalification process is easy. Plus, a response usually available in a matter of minutes, helping to ensure a great customer experience.

Customers can PreQualify from your website, letting them determine eligibility on their time. Plus, their information will populate the loan application when they’re ready to apply, making the process as smooth as possible.

How Can I Start Using PreQualify?

As a contractor working with EnerBank, you already have access to this resource as a part of your loan program. If you have any questions, reach out to your relationship manager or contractor support at 888.390.1220, option 2.

For those not working with EnerBank, now is a great time to start. Not only do you get PreQualify, but you will get access to other tools and resources designed for home improvement. To get started, you can fill out the form on this page or click HERE.

*Brickyard Study, commissioned by EnerBank USA, 2018


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