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Louis Jeffries asked:




Merchant Finance Program

As a merchant who offers a product or service that costs $300 or more. Wouldn’t it help you if you could offer a finance program to your customers that 95% of them would qualify for? I would imagine you could add a few more sales per week or month which could really improve your profitability. There is a new “no credit check finance program” for merchants like you to offer to your customers. This program works anywhere in America.

Four Ways to Buy

Today your clients have four ways to pay when they buy from you. They can pay cash, use a debit or credit card, pay by check or use your financing program (if you are fortunate and savvy enough to have one).
Pay Cash: Cash is king and is almost always the best option for most merchants. Unfortunately most people do not carry cash, especially larger sums like $500, $1500 or $3,000. Most Merchants like cash. Debit or Credit Card: Today more often than not this is how most customers make their purchases. As long as you have a relationship with a good merchant services company you gladly accept debit and credit cards. Depending on your merchant services company and your business and personal credit profile they may charge you between 1.9% or 3.5% maybe a little higher or lower. Most businesses have this cost factored into their price as a cost to do business. To get the sale you must accept this form of payment. Especially if you have a virtual company, you must be able to accept debit and credit card transactions. Single Check: Like cash this form of payment is going the way of the dinosaur. People just do not carry checks like they did in the past. One other reason is that merchants generally do not want to accept the risk of a check not clearing.. There is a solution for business to accept checks. They can use the services of a check guarantee company. They work similar to a merchant services company by running the check through their processing machine and determining if the writer is on a “bad check writing watch list” or if the checks have been reported stolen. The check guarantee company then guarantees the check is good, converts it into an electronic funds transfer item, which makes it payable immediately. This has a few benefits for the merchant. First there is no hold on the checks and the money is deposited into there accounts within 48 hours. There is also no reason to run to the bank to deposit the check (which many banks are charging merchants a fee to do so). Most importantly the check is guaranteed good and there are no return checks or return check fees. Financing Program: The obvious reason this is not prevalent today is that most merchants do not offer one. If they did many clients would not qualify for financing. First banks are very tight in financing customers today. They are reducing the credit lines on their good customers and canceling the accounts of their marginal ones. Even if you are fortunate enough to be able to offer a financing program to your customers 50% of them will not have the credit to qualify. But today you have the ability to offer your customers a “Complete Payment Solution”. You can offer your customers a “No Credit Check Finance Program” where they can finance up to $5,000 for 90 days and the money is guaranteed to you by your merchant services company. This means without a credit check your customer could qualify to finance their purchase from you.

Clyde