FAQs - finance Categories

Have any questions not listed below? Please get in touch.

Who is Payl8r?

Payl8r is the leading finance provider for the beauty and aesthetic industry! From botox to hair extensions, spa days to body sculpting, Payl8r allows you to look and feel your best, whilst spreading the cost. You can view their website at https://payl8r.com/

  • With Payl8r you can spread the cost over 3, 6, 9 or 12 months.

  • If a loan is paid back in the first 30 days - it is interest free.

  • Where required, Payl8r also uses affordability checks to assess individual’s eligibility.

Who is Lending Stream?

Lending Stream started providing short-term loans online in 2008. Since then, they’ve gotten better and quicker at streaming loans, helping more people to find the financial help they need. You can view their website at https://www.lendingstream.co.uk/

How does the finance feature work?

There are a number of client options to take out the finance, these are:

  • Directly through a consent form. If you have forwarded your client a consent form via Faces, your client will have the option to take out finance directly through the consent form.

  • Directly through the Faces clinic search. If your client or a new client books directly from the clinic search they can select a treatment, add it to the basket and then proceed with the finance application.

  • Forward finance link directly to the client. As a practitioner, you have the ability to forward a direct link to the finance application directly from the Faces app or website. Your client can then go through the application.

Will I be charged for this service?

Fees will be 10%, this covers the Faces and admin fees.

How will I get paid?

Once the client has been approved, you will receive an email confirmation that approval has happened. The client will need to confirm the transaction on the day of treatment from their email. Once the email has been confirmed you will then receive the money directly to your bank account straightaway.

How long will it take for clients to get approved?

Immediately after completing the form.

Can I send it via text message?

At the moment, it can be only sent to your client’s email address.

How much is the APR?

Interest rates will typically vary from 1-4% per month.
Representative Example:

If you borrow £200 over 12 months at a fixed monthly interest rate of 4% and an annual rate of 48% and representative annual percentage rate of 127.34% You will pay: Monthly payment: £24.66. Total amount you repay: £295.92 Total charge for credit: £95.92

Where else can we use this feature?

Aside from client treatments, if you are a training academy, you can also offer this service to your students.

Is it a soft or hard credit check?

It will be a soft credit check only and will not affect your client’s credit score.

What is the acceptance rate?

All customers who meet the minimum credit criteria and, where required, the affordability checks, will be accepted.

How much can my clients borrow?

Clients will be able to take out finance from 1 month - 12 months. To start, it will be from £50 - £2000.

What if clients can’t meet their payments?

We thoroughly check your clients’ standing before we’ll approve their loan but in any case that your clients encounter problems with payments, please advise them to contact the lending company as soon as possible so they can arrange payment options for your clients.

Once approved, when will the terms and conditions of my client’s loan agreement start?

The terms and conditions will start from when the treatment has been completed by the practitioner.

What if my client is dissatisfied with the results of their treatment?

Unfortunately, if your client is unsatisfied with the results of their treatment, we are unable to help as this is an issue that you need to address as their practitioner.
We recommend that you reach a resolution with the client independently. If this is not possible, then you will need to contact the lending company to open a case against the client and have the funds retrieved.

What happens if following the consultation with my practitioner, they decided to change their treatments with different prices?

This is an instance where the original price must be adhered to as part of the terms and conditions. The price of the treatment cannot be changed with the lending company once the finance has been offered.

What if my client hasn't fully paid their loan but decided to get another treatment?

If your client has decided to get another treatment, this will have to be paid in full as further finance will not be offered.

What if my client changed their mind and discontinued the treatment?

Please contact the lending company as soon as possible so they can instruct your client on what are the steps to return the loan amount or if there are any documents your client needs to sign.

Have any questions not listed below? Please get in touch.

Who is Payl8r?

Payl8r is the leading finance provider for the beauty and aesthetic industry! From botox to hair extensions, spa days to body sculpting, Payl8r allows you to look and feel your best, whilst spreading the cost. You can view their website at https://payl8r.com/

  • With Payl8r you can spread the cost over 3, 6, 9 or 12 months.

  • If a loan is paid back in the first 30 days - it is interest free.

  • Where required, Payl8r also uses affordability checks to assess individual’s eligibility.

Who is Lending Stream?

Lending Stream started providing short-term loans online in 2008. Since then, they’ve gotten better and quicker at streaming loans, helping more people to find the financial help they need. You can view their website at https://www.lendingstream.co.uk/

Will I be charged for this service?

At Stage 4 of the application, where you enter your bank details and card information,you will be asked to agrees to a £2 soft credit search
For accepted orders, this fee is taken forwards and contributes towards the applicationfee. An accepted order has a £4.95 fee in total.

How much is the APR?

  • Interest rates will typically vary from 1-4%per month

  • Here is our representative example which can be used, but the APR will beimpacted by the % of interest on each loan and the loan term, so we advise theabove point being referenced:

Representative Example: If you borrow £200 over 12 months at a fixed monthly interestrate of 4% and an annual rate of 48% and representative annual percentage rate of127.34% You will pay: Monthly payment: £24.66. Total amount you repay: £295.92 Totalcharge for credit: £95.92

Do I need a Bank Account?

Yes.
You must have a UK bank account capable of accepting Direct Debits and you musthave online banking.

Do I need to pay a deposit?

Yes.
The amount of the deposit is detailed at the start of your application and on yoursummary.
The standard deposit is 10%.
The deposit is only taken once you have been accepted on Payl8r.

Is it a soft or hard credit check?

Payl8r will perform a Soft check and affordability assessment to determine a customer suitability.

How do I pay for the Loan?

Your monthly repayments are collected from your debit card as a CPA (continuouspayment authority).

How much can I borrow?

Loan terms range from 1-12 months with a value range of £50-£2000 (with view of going up to £10,000)

What happens if I can’t make payments?

We thoroughly check your clients’ credit and affordability before we approve their loan. If any Payl8r customers find themselves in financial difficulty our friendly collections team are on hand to provide help. Payl8r also offers a 28 day window whereby a customer can make a missed payment before any late fees are applied.

What will happen to my credit score if I use a lending company through faces?

If you repay your loan on time, and do not miss payments, then your credit score may improve.
Failure to meet your credit agreement may result in an adverse impact on your creditfile.

What is the acceptance rate?

All customers who meet the minimum credit criteria and, where required, theaffordability checks will be accepted.

Can I repay early?

Yes, you can repay early at no extra cost.

How long will it take to get approved?

Immediately after completing the form, or where required, once the manual underwritingteam has reviewed the application form. Payl8r will aim to give an instant decision at alltimes but sometimes the manual underwriting team might be required followingaffordability checks. Customers are kept up to date with this on the application form andthen text/email.

What if I haven’t been given a decision.

Customer Support Queries - My colleague Emily heads up the support desk and she willbe readily available to help with any customer related questions or pointers:

Once approved, when will the terms and conditions of my loan agreement start?

The terms and conditions will start from when the treatment has been completed by the practitioner and the payment code has been entered into the Faces app.

What if I get declined?

Each customer is emailed and texted with an overarching reason of their decline: creditor affordability. If the reason is affordability, the customer is told they can reapply with ahigher deposit/lower order value to make the monthly repayments more affordable.
Customers can ring on the number above to run through reasons for rejection, shouldthey wish.
Often, the reason for a decline is that incorrect information has been entered in thecredit application form.
Please ensure you carefully enter all required information.
Unfortunately, we cannot give reasons for every decline but common reasons are;Multiple accounts in default, Incorrect details used, Debit card not registered to addressgiven, Bad status on payday loan accounts, Failure to meet affordability criteria.

Can I change my Pay Later amount if my practitioner changes the price of mytreatment?

Yes, if the loan is still in pre-approval and the payment code has not been initiated you are able to change the treatments and price in the Faces app. The total value of the treatments must not exceed the original.

What if my client hasn't fully paid their loan but decided to get another treatment?

If you have decided to get another treatment, this will have to be paid in full as furtherfinance will not be offered unless your Payl8r has at least 2 successful repayments (60days) and is up to date with no arrears. In this instance a new application form can becompleted for a second treatment.

What if I change my mind and discontinue the treatment?

If the treatment has not been carried out - contact the practitioner/clinic to cancel theorder.

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