Key Concepts to Know


Before you begin the work to get your company up and running with a Koalafi integration, here are a few key concepts and definitions that will help you easily integrate with Koalafi:

  • Order: You’ll start each Application with an Order. An Order conceptually is the start of customer's interaction with us, much like how you would open an order with a company to initiate a request for purchasing products.

  • Application: An application refers to an order where the customer has filled out and submitted all of the information Koalafi needs for credit decisioning.

  • Delivery: Marking the order as ‘delivered’ is a key step that funds the lease and/or loan and initiates customer payments.

  • Approval First Flow: This flow is for customers who wish to apply for Koalafi financing, but don’t yet know what they want to buy, or for customers who want to see what financing option they are approved for before shopping. Customers typically initiate this pre-approval flow from a financing page or marketing callout. After approval, the customer shops on your site, checks out, and then chooses Koalafi at checkout as their payment method to complete their financing. This flow is a great tool for converting more potential customers!

  • Shop First Flow: These customers have not already applied for financing elsewhere on your site. Customers initiate this flow from the shopping cart by selecting Koalafi as their payment method.

  • Lease-to-own: For our lease-to-own product, the customer will own their items when they make their last payment. For a lease application, no credit history is needed and early purchase options are available to the customer. Regular lease payments are deducted on payday.

  • Loan: For our loan product, the customer owns their item immediately. Loans are typically for customers with good to excellent credit and they can pay-over-time with low, recurring fixed payments. For some customers, we offer promotional financing to pay off early and save.

  • Full Spectrum: This is our single application that allows customers to apply and receive an approval for the best product for which they qualify (loan or lease-to-own).