With an increasing number of customers choosing to finance purchases, your business can not sit on the sidelines.
It must be able to supply customers with capital, quickly and easily. Financing Your Way can help. We can provide your business with multiple finance lenders, which in turn will provide your customers with the chance to choose the financing that works best for them. Here are a few reasons why having one consumer financing option is simply not enough. Multiple financing options will drive sales and increase positive business experiences- here’s how.
Lender Details
In order to know your financing options, it is important to know what lenders are out there, and how they differ. Lenders will mostly vary in funding cycles and qualifying criteria. Lenders set up their funding cycles in a way that works for them, but what if the funding cycle doesn’t benefit the majority of your potential customers? Bringing in more lending options than your current provider will only increase your lending flexibility. Being aware of the different lender approval criteria will also help you to decide which lenders to suggest to clients.
Financing Your Way pairs your customers with lenders that make sense. There isn’t a one-sized-fits-all customer credit situation, so why go back to the same lender over and over again? With our streamlined dashboard, you can submit your customer’s information in one place, send it to multiple lenders at once, and evaluate available options in minutes. This service allows both you and the customer to decide which option is best by comparing features side-by-side in real time.
Consumer Financing Approval Rates
The risk when dealing with only one lender is that you will have fewer customers approved for consumer financing. When partnering with Financing Your Way, your customer approval rates will increase. With our program, we actually guarantee that, on average, customers have a 70% approval rating. Can your current lender make that claim?
Our multi-lender platform provides customers with differing payment plans and expanded credit qualifying thresholds. With Financing Your Way, all processes are paperless, and clearly detailed for all parties. We want to help ensure that when your customers are approved, your sales increase as well. Even more than that, it is important to note that the overall customer experience will improve, creating customer loyalty.
Growth in Range of Customers
Having a variety of lenders, with varying funding cycles, allow you to attract the customers who have always been potentials, but haven’t been able to complete the transaction. Having additional financing options will also provide sustainability and longevity to your customer relations. Once customers know they can be approved for consumer financing, they are going to choose your company over the others.
Consumer financing is the key to customer relations and stability in your company. Having lenders for customers to choose from will ensure the growth in your sales you’ve been looking for. It is important to continue to grow with the customer demands, especially when it comes to financing options.