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Retail Finance - New Consumer Financing Options For Small Business
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Retail Finance - New Consumer Financing Options For Small Business

In the wake of the credit crunch and ongoing recession, many small and medium sized businesses that feature higher ticket goods and services and need retail finance have found it increasingly difficult to get their customers financed to buy their goods.

Many of the larger banks that feature this product will only deal with smaller businesses if they are in one of a very few select industries such as jewelery or furniture. Other small businesses such as home improvement dealers or powersports dealers or dental practices have either limited financing options with low approval rates, or no financing options at all.

However, a new option exists that will allow these same small business to get approved to offer financing for their customers, even if they are a smaller dealer, and also allow a much wider range of customers to get approved for customer financing than is usually possible with many of the larger bank programs.

This program is also perfect as a "second source" and normally is able to approve between 30-50% of other companies turned down credit applications, resulting in a huge boost to a businesses' bottom line that would've normally walked out the door.

This program features

- Eligible Merchants are in business a minimum of 1 year or more with $400,000 in gross sales. Maximum size merchant is $500 million in sales.

- Financing amounts from $1000-$30,000 unsecured. No amounts under $1000

- Customized web-based merchant portal for quoting payments, instant approvals and printing loan documents for customer signing.

- No recourse whatsoever to the merchant

- VERY competitive interest rates from 8.99% to 19.99%

- Approvals down to a 580 credit score.

- No upfront fee to become an approved merchant.

- Funds ACH'd to the business bank account of merchant within 48 hours of verified job completion or delivery of goods purchased.

This program fills a big gap for many merchants and retailers who have simply been ignored or deemed "too risky" in this market by the larger players such as Wells, Citibank, UBS and others. Also, typically those banks will charge rates far in excess of 19.99%, as it is not unusual to see rates in excess of 24.99% for some of their better credit applicants, depending on the industry they are in.

If your business or dental practice is looking for a way to convert more declined applications into paying customers, check out the link to learn more information. That way, you can be sure this program may be a good fit for you and your business.


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