The business industry is getting more and more competitive with time. As new companies and innovative ideas are springing up, the old and existing companies have to either improve their game or get out of the way. Keeping things afloat is not always easy, and business owners have to choose different options to make ends meet. One of the most common ways businesses generate funds is by going for consumer financing programs.
Consumer financing offers businesses a way to increase sales by providing customers with the option to finance their purchases. It has become a popular choice for businesses in recent years, allowing them to expand their customer base.
Today, several consumer financing companies are helping businesses, including Time Investment, Affirm, and Care Credit, to grow their business. This article will discuss some of the 07 Best Consumer Financing Programs in 2022. So, let’s get started.
1. Time Investment Company
Time Investment is a consumer financing company that helps businesses grow their customer base by offering customers the option to finance their purchases. It offers service support that helps businesses keep their customers happy and satisfied. Financing programs this company provides enable businesses to make more sales and improve their cash flow.
It provides quick application processing. The automatic system quickly processes the application and offers funding on the next day of the approval. It provides multiple financing programs. You can choose the program that best suits your business needs.
2. Financial Assistance by PayPal
PayPal is one of the most popular online payments. It offers financial assistance to businesses by providing them with the option to finance their purchases. It offers flexible financing programs. PayPal credit offers additional credit lines to some customers depending on their creditworthiness.
It has a simple application process. You can apply for PayPal credit online in a few minutes. It lets customers shop from eCommerce websites and pay for their purchases over time. They can repay the debt in six months without any interest for purchases over $99. However, if borrowers fail to return the debt within the promotional period, they will be charged high-interest rates.
3. Financial Help from Affirm
Affirm offers its services to online shoppers. They can buy products from eCommerce stores and pay for them over time. It provides multiple financing programs. You can choose the program that best suits your business needs. Affirm has a simple application process. You can apply for their services online in a few minutes.
Financing programs offered by this company enable businesses to make more sales and improve their cash flow. However, it provides only limited financing programs. It also lacks flexibility when it comes to repayment options.
4. Funding by Care Credit
Care Credit is the best fit for you if you need funding for an expensive medical service or surgery. Care Credit offers credit lines to individuals and families to pay for out-of-pocket healthcare expenses. It offers money to pay the medical costs often not secured by medical insurance.
It provides funding for dental treatments, vision care, and veterinary care. It provides loans with a no-interest period of 6, 12, 18, or 24 months. However, if you don’t repay the loan on time, you will be charged from $29 to $40.
5. Financial Support by Viabill
Viabill offers financial assistance to businesses by providing them with the option to finance their purchases. It lets customers shop from eCommerce websites and pay for their purchases over time.
It offers its services to specific websites. It secures the personal information of customers and businesses. The borrowers have to repay the debt within four months. If they pay the debt within this duration, no interest is charged. However, high-interest rates will be applied if the debt is not repaid within four months.
6. Funding from Sunlight Financial
Home improvement companies are growing faster, and so is the need for financing. If you are also having trouble growing your home improvement or contractor business, you should consult Sunlight Financial. It offers loans for solar installation, roofing, HVAC, dancing, and various home improvement projects.
It offers multiple financing programs. You can choose the program that best suits your business needs. Sunlight Financial has a simple application process. You can apply for their services online in a few minutes. Funding from this company enables businesses to make more sales and improve their cash flow. However, it also has some drawbacks. Though Sunlight offers various financing options, they all are standard. You can’t customize the repayment options according to your business needs.
7. Finacial Assistance From FinanceIt
FinanceIt is one of the best consumer financing companies that help businesses grow by boosting their sales and bringing in new customers. It allows customers to purchase expensive products or services and pay for them over time. FinanceIt offers a simple and quick application process.
The company processes the applications as soon as possible and provides the businesses with the funds they need within a few days. FinanceIt offers competitive interest rates. Interest rates depend upon your credit scores. The company charges monthly processing fees. It is a good option if you have good credit scores. You can get low-interest rates and return the debt easily. However, if your credit score is not good, you will be charged high-interest rates.