Improve Services With a Revolving Line of Credit
One of the biggest challenges retailers face today is affordability. Finding the right price point that allows you to attract consumers while also making a profit is difficult. And despite the recovering economy, some products and services are expensive by nature, leaving consumers with little option when a revolving line of credit isn’t available to them. Shouldn’t your business be ready to extend more spending options to potential customers?
Big-ticket items are sometimes unplanned expenditures, which is why near-prime consumers without savings or expendable income seek out businesses with third party credit programs. These third party financiers often provide unconventional services that big banks cannot. Therefore, they are able to approve more near-prime consumers with a revolving line of credit when they need it most, and the benefits for your business are plentiful.
First, when you offer a revolving line of credit you increase customer loyalty. Consumers make return visits to businesses that treat them right, and with credit programs being in such high demand, offering this to consumers shows that you’re putting your clients first. Second, when customers are happy they tell their friends and family about your business, which leads to free advertising from trusted sources.
Some businesses will see as much as 60 percent of their sales being financed by lending partners, which proves that viable payment options other than cash are a necessity if you’re going to thrive today. This means you get instant access to cash even though the customer pays the lending company back in low monthly increments. As a business owner, you know that cash flow is vital to the growth of your organization, and that’s what a revolving line of credit can offer.
Some organizations will hesitate at bringing in a third party to set up a credit program for them, largely because of the complex application processes that have been seen with some companies. When you connect with the right lender, you’re going to see a quick and easy application process. Find one that serves near-prime consumers to avoid the process of having to turn down potential clients for credit.
Every business needs a toolkit to get through today’s economy, and if you have consumer-financing programs at the ready, your tool kit will be stocked with what it needs to bring value to your consumers. For instance, say you have a customer inquiring about a product or service, but their bank account isn’t quite prepared for it. This is the point where you inform them about your revolving line of credit, and that non-sale quickly becomes more enticing.
Consumers today are wary of getting into credit card debt, but they are also expecting credit as an option when they do commerce. When you offer options like those available through The HELPcard, you’re going to connect to more consumers. Contact us today and find out how we can assist you in attracting more consumers.