Merchant Financing No Credit Check
For a $300 product or service wouldn’t it be more helpful if you can offer financing to your customers? It will add a great number of sales which means profit for you. For merchants like there is now a no credit check financing that you can offer to your clients.
Let’s check how customers buy from you:
- Cash – This is the best one for business owners. You’d prefer this over the next 3.The cash can easily be moved to whatever expense you need in your business. The only problem is not everyone has immediate cash available. Nowadays people rarely carry cash.
- Credit card – This is the most common way of payment today. You have to apply with a merchant service company so that they can allow you to accept credit card payments. In exchange they get a portion of every transaction. It ranges from 1.9% up to 3.5%. You will receive the payment via bank wire which takes from 1 up to 5 days depending on the merchant service company.
- Checks – Checks usage have been in the decline for the past decade. The risk of a check not clearing is the number one reason. Your business can still accept checks if you have a check guarantee company. They run the check in their machine to see if it is good or not.
- Consumer Financing – This kind of method is very appealing to customers that don’t have cash in hand. It lets the customer pay a small percentage every month until the whole amount is paid. The client can take home the product they bought immediately. As a business owner you get paid in full within a few days. What if their credit score is low and banks are refusing their loans? There is now a new program called no credit check financing which enables customer to finance up to $9,000 without the need to check for credit scores. Approval usually starts within a few hours up to 2 days. This is a great program you can use to improve your profitability.