More and more people visit stores and web sites and find that they do not have enough cash or available balance left on their credit card to purchase what they want. When these two options fail, should you, the merchant, lose that potential customer and the purchase they wanted to make? The answer is no and the solution is to have a consumer financing program in place as a third and last option for your customer. This option will save that potential customer and allow them to make the purchase they really want to make. Most people that walk away without making a purchase usually don't come back because they are never able to save enough money to pay for the goods or services in full. Today everyone has things come up that prevent them from saving enough to make the purchase. If you can offer them a way to make small monthly payments without having to keep track of it or chase non-payments, you can show them an easy way to make the purchase today. How easy is it to convince a customer that they could walk out with what they came for by agreeing to pay only a few hundred dollars a month for 12 months instead of spending $3,000 or $4,000 right on the spot.
Many medical professionals that have been using Care Credit are implementing the programs offered by Premier Commercial to capture the patients declined by Care Credit. A representative of Premier Commercial told us that many businesses that have an existing consumer financing program are adding or switching to their program because they approve consumers with credit scores down to 580, not just people with good credit. They also said that a lot of businesses that never offered a program are asking to have one set up because they need to have another way for customers to make purchases.
This program has a two payment system that actually pays the merchant a higher percentage of the financed invoice than other programs. The ability to pay a higher total comes from a slightly reduced up-front payment and holding a reserve account for the merchant as a potential offset for bad debt. Over time, most people that finance purchases make their payments and Premier Commercial's program rewards the merchant for this by sending them money held in the reserve account every quarter. Instead of charging a higher fee to the merchant for the transaction and making only one payment, Premier Commercial's underwriters developed a system to create a reserve and reward the merchants for finance contracts that are paid properly.
There are many merchants that have seen the benefits of using the programs offered by Premier Commercial Funding Solutions. They do not charge a monthly access fee to request customer approvals. They will finance 100% of the merchant's invoice up to their maximum transaction limit. They incourage the merchant to collect down-payments from the consumers because it reduces the merchant's cost of the transaction. Premier Commercial only charges fees on what the merchant submits to be financed.
When looking at the few consumer financing programs that exist, it has become clear that the programs offered by Premier Commercial are the overall best option for merchants. The fast and easy approvals, excellent customer service, ultimately higher payment and lower costs, makes it a solid option to have for your customers in order to make it as easy as possible to close more sales.
You can contact Premier Commercial Funding Solutions via email (email@example.com)