Business to consumer financing (B2C financing) used to be the domain of big box corporations and automotive dealers. However, many entrepreneurs who are focused on business growth are using B2C financing in their respective industries to meet development milestones quickly.
B2C Financing For Small Businesses
By offering B2C financing, businesses can quickly grow their customer base. Products and services which are normally “out of budget” become accessible to customers with financing options. With B2C financing, customers submit an application at the business. An administrator then calls the financing service to relay the pertinent information, to allow for a credit check to be run in order to figure out the amount of financing available. The process takes minutes, and can be done while the customer waits, or while they shop. B2C financing allows customers to spread out the total cost of their purchases over affordable monthly installments. The payments on these installments can be made over the phone, online, via mail, or even at the business itself.
Growing Your Customer Base
B2C financing allows businesses to grow their customer base by providing flexible payment options on large purchases. By building a reputation of having “budget friendly” payment options, word of of mouth will bring in new customers to apply for consumer financing. Additionally, B2C financing provides businesses with the creative marketing options of offering incentives, such as “zero percent interest for the first year.” or “$500 same as cash.” These time-sensitive incentives bring in new customers, and the additional sales allow businesses to accrue growth capital for everything from upgrading new equipment and hiring additional staff, to rolling out new products and services.
What Industries Use B2C Financing?
Business to consumer financing can be found across all industries, and in companies of all sizes. IT startups offering niche services, import/export businesses that deal in large customer orders, and even healthcare centers offer consumer financing on some level. While overtly, business to consumer financing positions businesses for growth, underscoring everything is the ability to maintain a steady cash flow. While customers are not paying the total amount upfront, the manageable payments mean that customers will not skip out on the amount owed and leave your business with a loss.
Lavan Financial Group Offers B2C Financing
At Lavan Financial Group, we provide business to consumer financing for entrepreneurs in all industries. Contact our team today to find out how our financing options can help your business grow successfully.