Customer Financing That Helps More Customers Get Approved in Salt Lake City!

Most of the time, a financing application starts with a soft credit inquiry which allows customers to shop for financing options without impacting their credit score. This type of query is often run during the initial qualification stage and does not impact credit in the same way a hard inquiry does. If the customer accepts a financing offer, the participating lender may perform a hard credit inquiry before making a final credit decision. Each of the financing providers, lending programs and individual applicants will have their own credit approval standards and qualification requirements.

Fund My Contract has access to a wide variety of lending institutions that cater to clients with all credit histories. This enables businesses to provide financing to more customers, including applicants who may not qualify through traditional financing sources. Some financing programs may be available to applicants with FICO scores as low as approximately 550. Some lenders may also offer no credit check financing to qualifying individuals. Approval is subject to income, credit history, amount financed, repayment terms, and lender underwriting policies. By working with multiple lending partners, businesses can offer financing options for customers with different financial backgrounds.

Point of sale financing can be used in many industries and supports financing for many products and professional services. Popular financing options are for things like air conditioning and heating, roofing, medical procedures, remodeling, elective treatments, coaching, equipment and other big-ticket items. This makes it easier to budget for larger purchases, as customers can spread the purchase price over convenient monthly payments. Businesses can derive value from improving affordability, increasing average transaction values, improving customer satisfaction and generating additional sales opportunities.

All financing programs are subject to lender participation, credit qualifications, program terms and conditions, and other underwriting criteria. If you qualify, you could get rates as low as 2.99%. Depending on the lender and the financing program you pick, promotional options may include deferred interest, 0% financing for qualified borrowers or Same-As-Cash payment plans. Customers may have a number of financing solutions available to them and also have the ability to compare repayment options to select the financing program that best fits their financial goals.

Fund My Contract is built to provide quick financing decisions through an automated application platform backed by a large network of lending partners. Many applicants receive a decision on their financing in minutes so they can explore available payment options without delay. Faster financing responses allow customers to feel confident in their purchasing decisions while helping businesses shorten the sales cycle, improve conversion rates, and generate additional revenue.

Once a financing application is approved and the transaction settled, participating lenders generally fund the transaction on their normal funding schedule. Instead of waiting for customers to finish their repayment plans, businesses get fast payments after funding. The financing provider manages payment collection and loan servicing over the life of the loan, helping businesses maintain a steady cash flow and minimizing administrative tasks.

In-house financing can require significant time and resources from the business to review credit applications, approve financing requests, service customer accounts, collect payments, monitor balances, and resolve payment issues. Such duties can add to the workload of staff and increase operating costs.

Fund My Contract provides a faster solution by connecting businesses with third-party lending partners that are trusted to handle these financing needs. Quick funding, less paperwork, more efficient processes and more time to focus on customer service, sales and future business development – that’s what businesses get.

Flexible Monthly Payment Options Customer Financing makes big purchases more affordable. Offering customers affordable financing options makes them more comfortable to proceed with larger purchases, allowing businesses to increase close rates and average transaction value.

Fund My Contract’s smart waterfall technology allows customers to apply for one financing application that can be reviewed by multiple lending partners via a soft credit inquiry in the initial qualification phase. This streamlined process saves time, cuts down on duplicate applications and boosts financing options with access to a huge lender network.

Additionally, there are helpful resources such as lead scoring, financing help, payment processing solutions, loan servicing help, Buy Now Pay Later programs, software education, sales training, and dedicated customer support that help ensure long-term business success.

Customer financing can be a powerful tool for businesses in the healthcare, home improvement, professional services, agencies, digital marketing, eCommerce, equipment sales, and many other service-based industries. Flexible payment options help to facilitate larger purchases while helping businesses improve customer satisfaction and relationships and generate more revenue from completed sales and repeat business.

People tend to delay purchases if there are no cheap payment options. Financing is an easy solution that helps customers move forward with confidence and takes away the affordability concern.

Fund My Contract helps businesses improve financing approval opportunities, increase conversion rates, get funding fast and make the customer financing experience easy. These benefits lead to improved customer relationships, higher sales performance and sustainable long term growth.