Key Concepts


Here are a few key concepts 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 interactions with us, much like how you would open an order with a company to initiate a request for purchasing products.

The first step of every application is creating a new order, at which point we'll provide a unique orderId  for use throughout the financing process. Also, the orderId can be used to query for useful information about an Application such as approval decision and Application status. It's important to ensure there's only a single orderId for each customer purchase.

  • Application: An application refers to an order that has been fully filled out and submitted for decisioning.
  • Delivery: Marking the order as delivered is a key step that funds the lease and loans and initiates customer payments.

Financing Types

  • Lease:

    • No credit needed*
    • Regular payments automatically deducted on payday
    • Customers will own their items when they make the last payment
    • Early purchase options available
    • Once a lease application is approved, it becomes a lease once you add and submit items to the Order, Koalafi generates financing terms, and the customer signs the lease agreement.
  • Loan:

    • Typically for customers with good to excellent credit
    • Pay-over-time with a low, recurring fixed payment
    • Customer own their items immediately
    • Promotional financing to pay off early and save available for some customers
    • Once a loan application is approved, it becomes a loan once you add the total purchase amount to the Order, Koalafi generates financing terms, and the customer signs the loan agreement.

*We do perform a credit check on the customer as a part of our application process. "No Credit Needed" does not imply no credit check

  • Full Spectrum: Full Spectrum refers to our combined offering of loans and leases. Your customers apply through a single application and are approved for the best product they qualify for, enabling customers across a wide range of credit backgrounds to seamlessly make purchases with Koalafi financing.

Flow Types

Koalafi supports two flow types. You can choose to support Shop First or both based on the needs of your implementation. The shop first vs the apply first flows are mutually inclusive, meaning you get both right out of the box, and the only difference is if you have items in your cart on checkout.

  1. Approval First This flow is for customers who wish to apply for Koalafi financing but don’t yet know what they want to buy, or want to see what financing they can get 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!

  2. Shop First This flow is for customers who have added items to their cart, proceeded to checkout, and selected Koalafi as their method of payment at checkout. 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.


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