Customer Financing That Helps More Customers Get Approved in Las Vegas!

Most financing applications begin with a soft credit pull, which lets customers see financing offers without impacting their credit score. This happens during the initial qualification process and doesn’t have the same impact as a hard credit inquiry. Once a customer chooses to accept a financing offer, the lender may conduct a hard credit check before making a final lending decision. The credit approval criteria vary depending on the financing source, lending program and the financial credentials of the applicant.

Fund My Contract works with a large network of lending partners that can support applicants with a variety of credit profiles. Businesses can also extend financing options to more customers, including those who may not qualify through traditional lending institutions. Some financing programs are available for applicants with FICO scores as low as about 550. Some lenders will offer no credit check financing for qualified customers. There are a variety of factors that will determine your approval. These include your income, credit history, amount of loan, repayment terms and the lender’s underwriting standards. This broad financing network allows businesses to offer payment solutions that cater to a wide range of financial situations.

Point of sale financing can be used for a variety of goods and services in many industries. Typical financing applications are for HVAC equipment, roofing, home renovations, medical procedures, elective medical care, coaching, commercial equipment and many other high dollar purchases. The ability to break down costs into easy monthly payments makes a large purchase more affordable for customers. Businesses can experience improved affordability, higher customer satisfaction, larger average transaction values and increased sales opportunities.

Rates and financing offers will vary by participating lender, qualifications of the applicants, amount of financing, terms of the financing and other factors. Rates as low as 2.99% for qualified borrowers. Some of the financing providers also have promotional offers that include deferred interest, 0% financing for qualified applicants and Same-As-Cash payment plans. With access to a range of financing programs, customers can check out the available payment options and select the one that best suits their financial needs and buying goals.

Fund My Contract connects customers with an automated approval platform and an extensive pool of lending partners to streamline the financing process. Many applicants receive financing decisions in minutes, allowing them time to think about available payment options without a long delay. Fast financing responses help customers make a decision faster on purchases while allowing businesses to increase efficiency, improve conversion rates and keep the sales process flowing.

After the transaction has been completed and financing has been approved, the participating lenders will generally fund the business according to their standard funding procedures. Instead of waiting for the customer to complete their scheduled loan payments, businesses are paid immediately. The financing provider services the loan and collects payments from the customer, which enables businesses to keep a consistent cash flow while taking on less administrative burden.

Running an in-house financing program requires significant time, personnel, and financial resources. Businesses are frequently asked to review credit applications, determine customer qualifications, collect payments, service financing accounts, track payment activity, and handle late payments or loan defaults. These ongoing activities can increase operational complexity and divert time away from serving customers.

Fund My Contract offers a simplified alternative, allowing businesses to tap into vetted third-party lending partners that handle the financing process once approved. Businesses receive faster funding, less admin work and simpler processes and more time to concentrate on increasing sales, developing customer relationships and growing the business.

It’s also easier for customers to make larger purchases by spreading out the costs in predictable monthly payments. This additional payment flexibility can help remove hesitation in the purchasing process, allowing businesses to increase completed sales, increase average transaction values and deliver a better overall customer experience.

Customers fill out one financing application using Fund My Contract’s intelligent waterfall technology, which is then reviewed by multiple lending partners through a soft credit inquiry during the first qualification stage. The streamlined process means less time, less duplicate applications and more financing options with access to a wide variety of lenders.

Businesses also get a suite of tools and resources, including lead scoring, financing support, payment processing solutions, loan servicing resources, Buy Now Pay Later programs, software onboarding, sales training and dedicated customer support to help businesses maximize the value of their financing program.

Customer financing can be an asset for businesses in a wide range of industries, from home improvement to healthcare to professional services, agencies, digital businesses, contractors, equipment suppliers and eCommerce retailers. Essentially it’s a great option for any organization that offers higher-value products or services. Flexible financing options make it easier for customers to buy and help businesses improve customer satisfaction, build long-term relationships, increase sales opportunities and encourage repeat business.

More customers will take advantage of financing if it is available, and that means more customers will buy. Rather than miss out on sales due to affordability, businesses can offer financing solutions to help customers buy with confidence.

Fund My Contract helps businesses increase their chances of financing approval, improve conversion rates, get funded quicker and make the financing process easier through a large network of lenders and smart technology. These benefits turn into stronger customer relationships, better sales performance, higher customer retention and sustainable long-term business growth.