If you’re considering offering a payment plan for your retail customers but don’t know where to start, here are a few retail finance options that you can implement with ease.
Why use payment plans?
During summer months, business slows down because customers are away visiting beaches and other travel destinations. Customers have limited cash flow after summer vacations, so payment plans are a great way to make your retail products affordable for your customers.
Retail Finance Options
In-Store Credit
This is a retail finance option that acts as a credit card for your business. Customers are granted a line of credit specifically for your business. The line of credit can be used to make purchases. Monthly payments are made to bring down the balance. On time payments are reported to credit reporting agencies.
Personal Loans
Your business can offer your customers personal loans that can be used to pay for products and services. The personal loans are offered through the partnership between Financing Your Way and Rocket loans.
Custom Retail Finance Program
Your business can allow customers to pay for products over time with a customized retail finance program.
Each of these options is offered by Financing Your Way. These retail finance options are easy for your business to offer. Just visit www.financingyourway.com to get started. Customers apply in-store, at home from a computer, or from the convenience of their mobile phone. The decision is made instantly and your business receives 100% of funds, so there are no risks involved in offering retail financing options. Amounts can vary from $2,000 – $35,000, and interest rates are based on the customer’s credit. The options help customers build credit when on-time payments are made.