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Consumer Finance Blog Posts

By First American Merchant

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Is Customer Financing for Small Business Right for You?

Are you a small business owner interested in offering financing to your customers? Are you looking to make a large purchase? Why not opt for customer financing for small business? Learn more about this type of financing. Consumer Financing for Small Business Customer financing is a striking opportunity to get one’s desired products/services from a business up-front without paying the full sum at once. It’s a 3rd party consumer financing company that makes the payment instead of the customer. The financing provider pays for the goods/services up-front, and the customer pays the provider back in installments due to a payment […]

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Customer Financing: In House Financing Explained

Did you know that customer financing can add to the average order size of your business? In fact, financing to consumers can contribute to the growth of your incremental sales. So, what’s this “customer financing?” Is it right for you? Customer/Consumer Financing: What It Is Starting a business is closely connected with finding ways to keep it up and running. Consumer financing is a go-for option for many businesses in this regard. It allows customers to get enrolled in a low cost monthly payment plan, without having to make the full payment at once. With consumer financing, customers can obtain […]

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Help Your Auto Repair Customers Pay for Services

Seeing the continuous surge in the number of vehicles, we expect revenue and profits in the automotive repair and services industry to go up. Research by Future Market Insights predicted a double-digit annual growth rate from 2015 to 2025. And why not? When both vehicle demands and production are increasing across emerging markets. But just as with any industry, merchants in the auto repair sector need funding to back up their reserves. And being a high-risk niche, getting reliable sources of funding remains a challenge. In the United States, the automotive repair and services industry holds nearly 160, 000 establishments […]

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Tire Shop Financing Solutions for Your Business

Are you one of the many business owners that want to offer a financing option for their tire shop customers? If so, you’re not the only one. One of the biggest requests from tire shop owners is for merchant providers to offer some sort of financing program for their customers. For First American Merchant, one of the most requested from our merchant base was a “90 days same as cash” program for customers. Why Offer Tire Shop Financing? Dependable tires are a must. If you want to keep you car running safely on the road, you need to have good […]

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How to Offer a Computer Store Customer Financing Program

There are so many benefits in using a computer store customer financing program. If you are a student with limited cash, you can easily finance a quality computer. If you were in the middle of an important project and your old computer crashed, you can quickly finance a new device to make sure you meet that deadline. If you are curious about this program, consider the consumer financing programs First American Merchant (FAM) offers: First American Merchant’s Computer Financing Programs A computer store customer financing program offers three levels of funding: primary, sub-prime, and no-credit-check financing: Primary Programs –include the […]

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Offer Consumer Financing to Improve Sales and Customer Loyalty

Now that every business owner is offering financing options to their consumers, you’ll need to follow the trend if you want to compete favorably with you counterparts. Customer Consumer Financing is becoming an effective tool for increasing returns. And the good news is; First American Merchant is offering a number of lending programs to help both large and small businesses cater for their customers. Some of the benefits local businesses enjoy from these financing programs include; improved acquisition, brand awareness, consumer retention, and increased foot traffic. What’s more it builds customer loyalty which greatly impacts repeat business. Most customer financing […]

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Lease to Own Financing Program: How it Works

For the most part, people avoid lease to own financing. This option has received a bad rap, even though it is available to anyone – including those with poor or no credit history. In truth, lease to own financing is actually a great alternative to a traditional loan. Why, you ask? Lease to own contracts are much more budget-friendly than traditional options and offer may benefits for those with short-term needs. This solution is also ideal for those who move frequently and those who have plans to relocate for a short-term period. Still not convinced? Before you pass up this […]

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Financing for Customers Buying Tires with Bad Credit

According to financial experts, the best way to improve credit is to pay bills on time each month. You, as a merchant running a tire store, can help your customers with bad credit build their credit and get new tires for their vehicle. Merchants Can Help Bad Credit Customers Get Tire Financing People with good credit can enjoy the best interest rates when borrowing money. As credit score goes down, interest rates go up because lending money becomes of greater risk to the company. The same refers also to those having no credit history, but can’t be said about people […]

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How to Offer Customer Financing Without Breaking the Bank

Today’s consumer lending environment is rather complex. The reason has to do with ever-increasing customer demands, regulatory changes, and the revolution brought about by the digital world. Offering financing options to consumers helps businesses obtain one of the most effective tools for increasing revenue. Since there are a variety of lending programs that can meet the needs of different consumers, both large and small businesses have access to financing that fits the needs of the most of their current and future customers. Consumer financing programs are also great for local businesses competing with large-scale department stores. Benefits of Customer Financing […]

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What is a Lease Purchase?

At times buying big ticket products, e.g. furniture or computers may not fit into your tight budget or timeline. But you don’t have to fret now that lease purchases are now available. The lease to purchase allows you to lease an item, with an option to buy, for an affordable weekly, bi-weekly or even monthly payment. In a nutshell, you only need to pay a processing fee. No credit or down payment is required which makes it a more accessible option for those that find it hard to access loans with a poor credit score or a fluctuating income history. […]

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