Customer Financing That Helps More Customers Get Approved in Denver!

Often, customers will start the financing process with a soft credit inquiry so they can see their financing options without it affecting their credit score. These are the types of questions that are typically asked during the initial qualification phase and are not considered to be the same as a hard credit check. If the customer chooses to proceed with one of the financing options shown, the lender chosen may do a hard credit pull prior to final approval. The exact process will vary depending on the lender, the type of financing program and the individual qualifications of the customer.

Fund My Contract connects businesses with a large network of lending partners who serve customers with all types of credit profiles. This means that financing can be extended to a broader base of customers, including some who may have had credit difficulties in the past. Some financing programs are available to applicants with FICO scores as low as approximately 550, and qualifying applicants can access no credit check financing options through participating lenders. Approval subject to factors such as income, credit history, amount of financing requested, terms of repayment and lender requirements. Providing multiple financing options increases the likelihood that customers will find an affordable payment plan that fits their budget.

The point of sale financing is intended to cover a wide range of industries and can be used for many products and services. HVAC systems, roofing installations, healthcare services, elective procedures, coaching programs, equipment purchases, home improvement projects and many other larger investments are often available for financing. Customers can select an easy monthly payment option and avoid paying the full price at the time of purchase. This allows companies to provide their products and services at a lower price point and to boost average order values and conversion rates.

Interest rates and financing offers vary by lender, customer qualifications, loan amount, repayment schedule and other underwriting criteria. Qualified applicants may qualify for rates as low as 2.99%. Some of the program lenders also provide promotional financing options that may include deferred interest periods, 0% financing for qualified customers or Same-As-Cash payment plans. There may be several financing programs available, and customers often have the ability to compare payment options and choose the one that best fits their financial situation.

Many customers get financing decisions within minutes when they apply through Fund My Contract’s automated financing platform and large lender network. Designed to give quick answers, the application process allows customers to evaluate their financing options and proceed with confidence. More rapid approvals also help companies shorten sales process delays, increase customer satisfaction and improve the chances of closing more deals.

After a financing application is approved and the sale is closed, participating lenders typically issue payment on their own schedules. Businesses get their money without waiting for the repayment period to be over by the customers. The lender is responsible for collecting payments and servicing the loan, which will ensure your business has a more consistent cash flow with less administrative work.

When businesses offer in-house financing, they usually have to spend valuable time and resources evaluating applications, reviewing credit, managing customer accounts, collecting payments, monitoring balances and resolving payment issues. Ongoing responsibilities can add to operational costs and reduce the time available to grow the business.

Fund My Contract makes much of that complexity simple, thanks to access to trusted third-party lending partners who take care of the financing process from approval to repayment. Businesses receive funding quicker, operate more simply, reduce administrative overhead and have more flexibility to focus on serving customers and growing their business.

Companies that provide financing can make bigger purchases available by giving customers easy monthly payment options. This added flexibility can encourage customers to make purchases they may have delayed due to budget constraints, resulting in improved sales performance and higher average transaction values.

Fund My Contract’s intelligent waterfall technology allows customers to fill out one financing application that is then reviewed by multiple lending partners with one soft credit inquiry during the initial qualification process. This streamlined process cuts down on excess paperwork to save time and create more financing opportunities without the need for multiple applications.

Businesses also get access to valuable tools and services such as lead scoring, financing support, payment processing solutions, loan servicing resources, Buy Now Pay Later programs, software training, sales education and dedicated customer support that help support long-term business success.

Customer financing can assist businesses across various sectors, such as home improvement, healthcare, professional services, digital agencies, eCommerce companies, contractors, equipment providers, and numerous other businesses providing high-value products or services. It’s a way to make purchases more affordable by cutting out large upfront costs in favor of manageable monthly payments. This can help you build better relationships with customers, increase their satisfaction, and create more opportunities for future sales and repeat business.

Financing is often an option that encourages customers to complete a purchase if they want more flexibility in how they pay. By providing payment solutions that enable customers to move forward with confidence, businesses can avoid lost sales from affordability concerns.

Fund My Contract helps businesses improve their chances of financing approval, increase conversion rates, get funded fast and create better customer experiences. These advantages can lead to higher revenues, greater customer loyalty and sustainable long-term growth of the business.