Today’s economy can be a harsh landscape for those sales organizations, manufacturers and distributors who are looking for retail financing programs for their customers and clients. Simply put, many of the consumer finance companies that used to offer this type of program in the past are no longer in business. Many of the largest banks, but to a very limited amount of people who qualify.
Many of the traditional providers of these types of programs have either exited the business or been bought out in an era whencredit card companies largely took away much of this type of lending.
However, reduced credit card limits for consumers and a lack of companies which can provide this type of financing for consumers has created a need for financing options for retailers offering higher ticket items.
You may remember a time when many retailers offered “90 days same as cash” financing on their large ticket items such as draperies, furniture, heating & cooling units and many other items. Today these programs still exist, but their availability has waned in recent years due to the increased availability of credit cards to a much wider segment of the population.
However, since 2008, many of these same consumers, retailers and manufacturers have seen their credit lines, cut , restricted or closed down completely, leaving retailers main customers with a reduced supply of capital to purchase goods and services, especially those that have a higher price point.
Meanwhile, many of the large banks offer this type of financing, but only wish to deal with the largest retail chains and handle only the most traditional types of business for them, such as furniture store financing.
This leaves many small, medium and even larger retailer, sales and dealer networks scrambling to find a company that may help them provide their customers with credit and financing solutions that will help sell more of their products.
Silverstreak Funding, through a unique referral relationship, can be a key solution to helping your dealer network secure financing for their customers. We have high-level relationships with every single primary and secondary retail/consumer finance company in the US and because of this, we specialize in placing the hard to complete deals that may have been turned down elsewhere.
We can also handle difficult to fund dealer networks such as Internet dealers that sell big ticket items. If your company already has a primary funding source we may be able to provide a “secondary source” for your turndowns or rejected applications that may not get financed elsewhere.
If your company has sales of at least $1 million per year and is in need of retail financing, we may be able to deliver a program that fits the needs of your business customers.
WANT TO KNOW MORE? Contact us with no obligation.
Email info@silverstreakfunding.com or