In the business world, most retail outlets have a very limited amount of capital on hand and cannot afford to have their cash flow tied up in loans given out to clients. At the same time, however, they cannot afford to send customers away from the point of sale on big-ticket items and see their sales sink to a low ebb. Furthermore, businesses often need to renovate their property, move to a new location, upgrade equipment, or engage in extensive marketing campaigns. Yet, they do not always possess the investment capital to accomplish these goals on their own.
The Purpose of Retail Finance Companies
If someone were to ask the average person, “What is a retail loan?,” the response might well be, “A loan to a retailer.” That definition, however, would be off the mark. In fact, retail-financing is a loan extended to a retailers’ clients at point-of-sale to prevent the customer’s inability to pay in full from canceling the sale entirely.
A retail finance company will typically not cater to small-ticket items, which are better handled by credit card providers, but will concentrate major purchases like electronics, expensive furniture, automobiles, and even real estate. A retail mortgage lender, for example, will work with borrowers to assist them on loan applications and then finance the purchase. Retail financing programs have the potential to boost both a business’ profitability and to broaden its customer base. Customer loyalty also is increased when customers are able to take home the items they want without a long wait.
Retail Funding Programs
“Retail store financing” differs from “retail financing” in that it is a commercial loan to retailers that helps them build up their businesses or just ride out financial storms. By enabling businesses to use capital to finance retail projects, retail funding programs ultimately lift struggling companies to the next level and increase their productivity. By giving businesses advance credit on accounts receivable or leveraging loans based on equity and assets, retail business loans take a company through the hard times so they can survive to enjoy a rebound in days ahead.
Affordable Retail Financial Services?
Regardless of the exact type of retail financial services you may need, be it “retail funding” or “retail financing,” none of it will be of much benefit if it is not affordable. Many financing companies charge too much interest to your clients or scare them away with large monthly installments, but we at Thrive Kick keep your customers happy so they will not walk away. Our retail financial services also strive to keep retailers themselves happy by offering them flexible and fair terms on a wide variety of loan types.
Retail Financing for Companies With Imperfect Credit?
Bad credit is common in the modern marketplace, and many good customers have financial mishaps in their past that should not keep them from buying your products. Some retail finance providers require minimum credit scores, but we examine each application on a case-by-case basis to render a higher customer approval rate. We also approve transactions quickly, sometimes even instantaneously.
Retail Lending Rates and Terms
Thrive Kick prides itself on avoiding the overly stringent terms and excessively high interest rates of much of its competition. Our finance solutions are customized to fit your needs and can be completed in as little as two days’ time. We also keep paperwork to a minimum and simplify the lending process to give you a no-hassle experience.
Finding the Right Retail Lender
Thrive Kick is a retail lender that services all manner of retail loans to a wide range of business types, including restaurants, bars, auto dealerships, boat retailers, electronics stores, realty agencies, and more. Our retail lending practices are fair and upfront, and we always welcome the opportunity to lend you our financial strength and partner with you in growing your business.
At Thrive Kick, we provide retail finance for small business owners and companies across the U.S. Our retail credit financing keeps your customers from abandoning a purchase due to low cash on hand or high interest rates and payments. We finance retail improvements and cash flow facilitation as well, and we beat out other retail finance companies when it comes to rates and terms.
For a list of factoring companies, see here.