15 May Rocket Loans: Offering an Alternative to Consumer Financing
Customers love having the option to explore different payment alternatives.
While consumer finance brings a wonderful alternative to the traditional cash, debit, or credit payment options, consumer financing does not work in all situations. Businesses that sell low cost products that do not have resale value usually do not qualify for retail financing. This does not mean that they cannot offer alternative payment methods.
Rocket Loans recently partnered with Financing Your Way to offer a unique solution for businesses that would like to offer flexible payment options, but do not offer traditional high cost products.
Rocket Loans helps these businesses to approve their customers for personal loans that can be used for the purchase of retail products. These programs are great for small businesses who would like to introduce wholesale programs and offer flexible payment arrangements for their wholesale clients. Potential wholesale clients would apply for the Rocket Loan using the branded landing page of the business. Upon approval, the client would receive funding in their personal account for up to $50,000. These funds can be used for the purchase of product.
The customer would then pay monthly installments for the personal loan, thus improving their personal credit and their credit history with Rocket Loans, the Quicken Loans company.
Getting started with offering Rocket Loans is easy. Begin by contacting Financing Your Way to build your personalize landing page, which customers will use to apply for the Rocket Loan. Upon approval, you and your client will be notified and Rocket Loans will handle the rest from there.