Consumer Finance

For over 30 years, our lender has established a strong reputation for delivering exceptional customer service and developing customized finance solutions for businesses that provide deliverables and services to consumers.

Our consumer finance solutions are designed to meet the unique needs of each client, whether you prefer to bundle services together or select options that specifically cater to your individual requirements.

With a commitment to flexibility and tailored support, we empower businesses to enhance their offerings and drive growth through effective financing strategies.

Pointers:

• Consumer Retail Installment Obligations: We provide financing solutions for consumer retail installment payment plans, helping businesses manage their receivables efficiently.
• Primary Funding Source: Our main funding solutions offer capital for businesses needing immediate cash flow assistance.
• Secondary & Tertiary Funding Source: We also provide additional funding options to support businesses beyond their primary capital requirements.
• Lease with Purchase Option: Flexible lease options with the ability to purchase, catering to long-term financial strategies.
• Portfolio/Account Management: Comprehensive management of your receivables portfolio, ensuring smooth operations and financial control.
• Custodial Services/Back-Up Servicing: We offer custodial services and back-up servicing to safeguard your accounts and provide operational continuity.
• Delinquent Debt Collections: Effective and reliable collection services for delinquent debts to maximize recovery and protect your financial interests.

Business-to-Consumer Installment Receivables

We purchase business-to-consumer installment receivables at origination, acquiring them in bulk from clients with established finance programs at a discount.

In this context, a consumer refers to an individual purchasing a product or service.

Therefore, our finance clients are businesses that sell directly to consumers, not to other businesses.

Unsure if you need a consumer finance arrangement? Consider this simple question:

Who is obligated to make the payments?

If the obligation lies with an individual, it is classified as a consumer receivable.

If the obligation is with a business or any other entity, it does not qualify as a consumer contract.

Primary Funding Source

Our lender serves as a primary funding source for clients in niche markets that traditional lenders often overlook.

For instance, many banks and lenders are hesitant to provide financing terms to vacation clubs or other future service products due to the long-term delivery of services to consumers.

For businesses in these categories, our lender typically becomes the primary funding source.

This means we have the first opportunity to review all consumer contracts, giving us a chance to work with A-credit consumers or those with prime credit.

As you’ll see in our pricing below, our primary funding rates are competitive with those of traditional lenders, even though we operate in what some may view as high-risk industries.

Secondary & Tertiary Funding Source

Our lender also partners with many companies as a secondary and tertiary funding source.

This scenario arises when clients are already utilizing a primary funding source but are facing low approval rates.

Clients in this situation often watch potential sales slip away, leading to frustration.

To address this, our lender reviews all the applications that the primary source rejects.

Depending on the primary funding source, we can typically approve 30% to 40% of these rejected applications.

While our clients may experience a smaller net profit on the contracts we finance, the increase in sales ultimately boosts their overall profit.

Lease with Purchase Option

Our lender also specializes in purchasing lease contracts with a purchase option.

This approach allows clients to achieve optimal payouts while maximizing approval rates, particularly within a sub-prime consumer base.

Clients utilizing a lease program must be selling delivered products.

Our lease structure distinguishes itself from competitors by offering a more user-friendly Lease Factor, generous client payouts, and larger financed amounts with longer contract term options.

Please note that these lease options are not available or compliant in Indiana, New York, and Nevada.

Online Approval System: Instant Score

Our lender has developed an instant approval system that streamlines the financing process for clients.

This innovative system allows clients to quickly determine which consumers are approved for financing, the funding amount for each contract, and offers the option to print the final retail installment contract for signature or utilize our e-signature feature—creating a completely paperless transaction.

With over 16 years of operation, our online approval system has continually evolved, enhancing accessibility and usability, which helps our clients close sales rapidly, whether in-store or online.

Available 24/7, the system provides responses within seconds, making sales easier than ever for our clients.

Additionally, our system is not limited to finance clients; it can also be used by other clients to generate retail installment contracts and take advantage of the e-signature feature.

Portfolio/Account Management

Not all companies sell their receivables; some generate contracts—commercial, consumer, and municipal—and manage those receivables in-house.

However, as receivables portfolios grow, they can become cumbersome to handle.

Without the necessary expertise in collection processes, payment processing and application, and proper aging and delinquency reporting, the value of these portfolios can diminish.

Hiring an in-house team to manage the backend processes of receivables management can be costly,

and there’s no guarantee that performance will be maximized while ensuring compliance is met.

Custodial Services / Back-Up Servicing

Our lender offers custodial services, also known as document storage services,

primarily for larger businesses seeking reliable and secure storage for their sensitive documents.

We provide both physical and electronic storage options to meet our clients’ needs.

Physical storage is secured in fireproof cabinets located in a locked area of our facility, accessible only to employees with the appropriate security clearance.

For electronic storage, we implement robust security measures, granting authorized users secure login credentials and passwords to ensure document safety and confidentiality.

Delinquent Debt Collections

Since its inception in 1990 as a collection agency, our lender has relied on advanced collection techniques that continue to evolve with industry trends.

We provide collection services with no risk and no upfront costs to our clients.

Our collection fees are contingency-based, meaning we only get paid when we successfully collect on behalf of our clients.

While some companies may opt to sell their bad debt for a fraction of its value, most can achieve significantly higher returns by partnering with a qualified agency.

In addition to our loan servicing program, we offer complimentary skip tracing and credit reporting to all three major bureaus.