This is what we refer to as consumer finance, or retail sale finance. In other words providing finance to the consumer to complete a retail sale.
The myth here is that this type of finance is the reserve of the major high street players and that you need to be turning over millions to get a lender to offer you this type of scheme.
As it happens, and surprise surprise why we are writing this post, it does not have to be the reserve of the big boys. Consumer finance can be a sales aid that most retailers could be offering.
Well there are a few conditions but not necessarily catches. If you think these are one of the same then think again. Catches are a downside, conditions are something we can solve for you. So, definitely conditions.
To offer any type of finance you need a consumer credit licence, you also need to be able to answer basic questions and queries. So, if we were to put a solution in place and run the consumer finance scheme then a consumer credit licence no longer becomes an issue.
Add to this, that we can answer any queries and put distance between yourself and the administration then suddenly you have a complete and round solution.
Why Don’t More Retail Businesses Offer This Finance?
The answer is (in our humble and modest opinion) that not all businesses have the benefit of working with us, and hence not all businesses are aware of their options. You will also find that many consumer finance lenders will only work with a trusted and licensed intermediary. So our clients really do benefit.
If you want to know more about retail sales finance, or consumer finance, then add your comments above or contact us via the website and we will talk you through everything.