FAQ

About Maroo
What is Maroo?
  • Maroo is a NYC-based fintech startup focused on making dream weddings affordable for more couples in the United States
  • Maroo is a marketplace where couples come, build smart wedding budgets with our help, receive quotes from local vendors and then being able to pay for the entire wedding using our 0% APR financing up to 24 months
  • Maroo is a team of professionals with decades of background in financial services and wedding planning
  • Maroo is backed by major US investors and partner with top US lending provider
Where does Maroo operate?
  • We provide our service to US based couple for both local & destination weddings
  • We partner with US based and international wedding providers as well
  • What is important for us is that couple has a US bank account as primary. That's it
How does Maroo make money?
  • All wedding vendors incur marketing expenses to make sure they find such great clients like you are. And these costs are already included in the price of the packages you previously received from them
  • Maroo offers wedding vendors an alternative for the marketing costs by charging a small fee on every transaction Maroo generates for them
  • That helps you to get extra services and lower prices and avoid paying draconian 18-35% APR credit card or personal loan charges
  • It helps you wedding providers to convert a prospective lead into a paying customer
What services can I find on your platform?
  • We list wedding vendors across entire spectrum of provided services: venues, photographers, planners, videographers, florists, decorators, officiants, etc.

Couples FAQ
Why Maroo is different
Why do you give people 0% APR loans?
  • We worked in financial services for 10+ years and saw how banks are getting money from government at 0.25% interest rate and then lend to us at 5-10-15-35% APR
  • We wanted to do something about it. While having a broader economic impact across various markets, pandemic had a devastating impact on event and wedding industry, most of whom are small and medium business
  • Some of them were our friends and relatives. And we just couldn't sit and do nothing
  • We spoke with 300 couples and 200+ wedding pros in order to find a solution that will work for both sides. And this is how Maroo started
Do I pay any interest?
  • No, all payment plans are 0% APR up to 24mo depending on the amount requested
What are the benefits and risks associated with th loans?
Benefits
  • Maroo payment plans have a predictable repayment schedule. You’ll know in advance when repayments are due and how much. Therefore, you’ll be able to plan and budget accordingly.
  • You can build credit history as Maroo reports payments to the credit bureaus. If you’re making on-time payments with our installment loan, you should be rewarded.
  • With Maroo you annual percentage rates of interest (APRs) are at 0% unlike revolving lines of credit or credit cards as well as payday loans, title loans, and other short-term loans.
  • Prepayment of your installment loan is always available with no fee. If you have additional funds to pay earlier, you’ll always have the flexibility to pay down your installment loan with Maroo.
Risks
  • An installment loan is inflexible. Once you agree to and sign the loan documents, it is difficult to change your repayment schedule.
  • Your credit score can go down if you fail to pay your installment loan. Repayment history is one of the most important aspects of your credit score. Multiple failed payments on an installment loan will likely reduce your credit score significantly and it’ll take time to rebuild it.
Do you help with destination weddings?
  • Not yet, but this is on our roadmap and we will be integrating this in the nearest future
Account & Sign up
How to get started with Maroo?
  • To apply for Maroo payment plan, start by submitting the online form to check your rate. On this form, you’ll need to include:
    • The amount you’d like to borrow
    • Basic personal information
    • Connect your primary bank account via secure Plaid infrastructure
As a result you will receive a credit limit that we can offer you and your partner. If the credit limit is too low, feel free to add your partner, parent and any other financial contributor bank account as part fo the credit assessment. Once the credit limit fits your needs, completing your application is online is just a breeze.
What if I don't need Maroo payment plans?
  • Fair question. If you are not interested in interest-free payment plans and wedding expense consolidation features - not a problem, you can still use Maroo to help you build smart wedding budget and consolidate your wedding expenses in one convenient dashboard.
Credit assessment and Payments
How credit approval works?
  • During your application process, we offer you to connect your primary bank account via Plaid, secure and private open banking infrastructure. When you use it, Maroo is not able to get your banking login credentials or bank account numbers.
  • With obtained information, we are assessing how big of a credit line we can offer you. To increase the credit limit, we encourage couples to apply together or add your parents.
  • While we want your parents to benefit from the interest-free payment extension, we also respect your couple privacy and limit the information they will be able to see about your wedding in their Maroo account.
Does this affect my credit score?
Your credit score will not be affected when you check your eligibility, even though we perform a soft credit check. If you decide to pay through Maroo, your loan and payments may affect your credit score. Paying on time can help you build positive credit history and besides proactive notifications and reminders, we will assign you a dedicated customer success manager to help you make sure you are on track.
How do I make my repayments?
  • We are going to debit your primary bank account that you connected during your application process. Don't worry, we will send reminders prior to that to make sure you are ready.
How can I increase my credit limit?
  • To increase the credit limit, we encourage couples to apply together or add your parents.
  • While we want your parents to benefit from the interest-free payment extension, we also respect your couple privacy and limit the information they will be able to see about your wedding in their Maroo account.
How are payments made?
  • Few days prior we will send you a reminder via SMS or Email
  • You will have an option to select the bank account you want to use for the repayment transaction
  • If you need to add a new bank account, you will be able to do it in your Maroo dashboard
  • If you don't need to make changes, you linked bank account will be automatically debited at the respective due date
How do we split the payments within our couple?
  • You can connect multiple bank accounts from your or your partner's side and provide percentage allocation how you want the amount to be split
  • Its important to know that your partner need to acknowledge that split via confirmation email that we will send him/her

Vendors FAQ
Why Maroo is different
Why shall I choose Maroo?
  • It is a risk-free platform. You are not being charge anything for being on the platform
  • We offer transactional pricing, meaning we first bring you actual sale (not leads), and only then we keep our fee.
  • We pay you a full amount upfront. While this is optional, you are always welcome to choose to receive the payment
  • We offer nationwide listings so you if you are in a tristate area, you don't pay extra
  • We offer free business administration tools (think like free Honeybook/Dubsado/etc)
  • We offer networking platform so you can expand your professional connections
  • We offer free local bridal shows - your business growth is our main priority
What is your commission?
  • We keep flat 10% fee on every successful transaction on Maroo platform
I am a top wedding provider and have 5-digit-plus price tag. W need Maroo?
  • First of all, we appreciate the fact you checked this FAQ as we are sure your schedule is packed
  • Secondly, there is a chance that you might have some free days during the year that you might be interested to fill with additional orders
  • We built our platform in way that YOU are in control, YOU can search for couples' budgets that YOU want to work with and reach out to them if their wedding day falls in one of your open days
How can I join the platform?
  • We are glad you asked 😉 To join the vibrant and growing community of 5,000+ vendors please click here and submit your basic business information
I like my Honeybook (Dubsado/17hats/...). Why change?
  • First of all, the entire functionality of Honeybook and tools alike is embedded in the core of Maroo process (CRM, proposals, contracts, scheduling tools, etc) and because of that, we offer it for free
  • Secondly, Maroo is so much more than just a business administration tool so we hope wedding professionals will see the benefits of getting new business from our platform, full upfront payment, market and price insights, etc
  • And lastly, we are offering free account transition from any of the existing business management systems, so whenever you are interested, just reach out to support@maroo.us and we are going to transfer your accounts within 72 hours
Account & Sign up
How do I start?
  • We are glad you asked 😉 To join the vibrant and growing community of 5,000+ vendors please click here and submit your basic business information
Does it cost anything to start listing on Maroo?
  • Absolutely nothing. Risk free envinronment
  • No monthly subscriptions, no per lead fees
  • Once we open access to your personal account, feel free to create your packages, assign prices and sync your calendar
Do I need to provide my price & calendar availability?
  • Yes, we ask you to create your packages and features, assign prices and link your calendar
Is the price & calendar visible to public?
  • This information will never be shown to anybody on the platform on individual basis, instead it contributes towards generating a holistic and aggregated market view that we then share with both sides of our marketplace
  • Couples get a feel on where the market stands, wedding pros can assess where they stack against the competition
Quoting & Reservations
How long do I have to submit my quote?
  • You have 3 days to submit your quote after the couple published their budget
How soon the couple has to decide?
  • The couple has 15 days to make a decision in regards to the selected vendor
  • After they selected the vendor, you will receive a full and detailed report on each and every quote that you've submitted
Do I need to keep hard/soft reservations after submit quote?
  • Not at all. Unless couple shortlisted you, there is no need to make any commitments on your side
Can I change quote after submission?
  • Absolutely. After you submit the quote, we will keep you informed on what is the lowest price that has been offered
  • We don't encourage a price war as we firmly stand on belief that vendors should price their service according to their own value
  • At the same time we provide visibility on the lowest price simply to balance the information that previously only customers had
What happens when a couple shortlisted my quote?
  • First of all, congrats! When couple shortlisted your quote, we open your and their contact details so you can freely communicate on or off platform as you wish
Can I communicate with the couple outside of the platform?
  • Feel free to use our integrated services to set up virtual calls or offline meetings with your prospective clients
  • We do not restrict off-platform communication so feel free to grab a coffee together and discuss your proposed services
What happens when a couple accepted my quote?
  • Twice congrats 🎉 You got the business and we are glad that Maroo made a difference for you and your client!
  • After the couple accepted your quote, you can send the client your standard contract that you can either upload or build with our help in your personal account
  • Once the contract is signed by the couple, we initiate the full payment which you will receive within 1-3 days via ACH transfer on the bank account linked to your personal space at Maroo platform
Do I need to ask for deposit from a couple?
  • Despite Maroo provides the full payment upfront, we honour your standard contracts with the couples where you indicate what percentage of the total service cost is non-refundable
  • And if you indicated the number to be 50% at the moment of signature, then so be it and while we process the full payment to you, couple will still be required to stick to the service contract signed between you and them
When do I sign the contract with couple?
  • You sign the contract after the couple accepted your quote
  • It is being done via electronic signature process so no need to pass any documents offline. All the information will be linked to your projects and CRM system in your personal account
I value my service and don't want to lower the price. Why Maroo?
  • We don't encourage a price damping as we firmly stand on belief that any professional should price their service according to their own value
  • By using Maroo you can benefit from other great value propositions such as full upfront payment, market & price intel, nationwide listings, ability to filter and search for couples that you want to work with, etc.
Will I see competitors' information when quoting?
  • No, we respect everyone privacy. Meaning maximum you will see is what is the lowest price that's been offered to the couple and the list of features included in the proposed package for that lowest price
Pricing and finance
How am I being paid?
  • We ask you to link your bank account using Plaid, safe and secure open banking infrastructure, that keeps your banking data outside of access of Maroo, but that allows us to process ACH transfers to your account within 1-3 days after couple signed the contract
When am I being paid?
  • Currently, we process ACH transfers which take on average 1-3 days
  • In the future, we are going to issue Maroo business debit cards, which will ensure immediate disbursements to your card literally at the moment when couple signed your contract
  • In addition, this card will be linked to Maroo dashboard, so you will be able to see analytics on your business spend without leaving Maroo platform
What if I don't need to be paid in full upfront?
  • No problem at all. We offer you flexibility in a way how you want to be paid
  • If you want to align your payments in some personal way (monthly, bi-weekly) you have this option in your personal account
General
Do I need to be based in the US?
  • For now, we are working only with the US based vendors
  • In the future, we are going to open the platform to the international providers given a strong interest for destination weddings from US couples
What is Maroo vendors screening process?
  • We ask you to provide your social media accounts
  • In addition, we are doing some background checks via financial services and market compliance infrastructure to ensure safety and security for all transaction participants

COVID
What if my wedding is cancelled?
  • If your wedding cancelled because of the wedding provider, we reimburse you the full amount and will do our best to help you find an alternative within our extensive network.
  • If wedding is cancelled because of your personal reasons, we are going to honour the process indicated in your contract with wedding provider.

General
What if I don't know my wedding date?
  • No worries, for you as a couple we are able to provide some insights on the most budget-friendly days of the month with maximum vendors availability
Where to ask for help?
  • You can always message us at hello@maroo.us and our customer support team will be glad to help! ❤️