Let Consumer Financing Help Your Customers and Your Bottom Line
Often people need to avail themselves of your products or services but balk because they don’t have the immediate cash with which to pay. Consumer financing offers you an easy, affordable option to present to them so you can proceed with your mutually beneficial transaction.
Here are some of the reasons that consumer financing helps both customers and businesses.
Advantages for Consumers
Many potential customers are uneasy about accruing credit card debt and would rather forego a purchase than pull out the plastic. Consumer financing offers them an alternative method of monthly financing at reasonable interest rates. Because these rates are fixed instead of variable, they can count on their monthly payments remaining unchanged. Customers can also increase their monthly payments or pay off the whole amount without penalty.
To make the deal even more enticing, you can offer payment deferrals of three to six months: an additional bonus that is hard to resist. The approval procedure is quick, and once customers qualify, you can close the sale immediately.
Advantages for Businesses
The main advantage of consumer financing for businesses is that your customers can afford to purchase the products or services right away that they would otherwise put off buying until later. When they realize how simple your payment plans are, they may even add more items to their purchase. Your low interest, low risk consumer financing creates a bond of loyalty and encourages referrals to your business.
Submitting loan applications is a simple, quick process that can be conducted entirely online. Once the finance plan is approved, you receive payment in full. Consumer financing offers you unparalleled flexibility in fulfilling the needs of your customers.
For more advice on consumer financing and other aspects of small business financial management, get in touch with Flipside Capital.