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Alternative Consumer Financing Option
WHAT IS IT
We offer a payment plan “in a box” for main street merchants.
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Alternative Consumer Financing Option WHAT IS IT We offer a payment - - PowerPoint PPT Presentation
Alternative Consumer Financing Option WHAT IS IT We offer a payment - - PowerPoint PPT Presentation
Alternative Consumer Financing Option WHAT IS IT We offer a payment plan in a box for main street merchants. 2 CONSUMER FINANCING IS INCOMPLETE Despite our best efforts, some consumers simply cant get approved for financing
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CONSUMER FINANCING IS INCOMPLETE
You’re losing GOOD customers that are ready and willing at the register. You’re losing GOOD customers that are ready and willing at the register. 3
Despite our best efforts, some consumers simply can’t get approved for financing 66MM Americans have a FICO score below 599
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HOW WE’RE MAKING IT BETTER
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Consumers apply for store credit (up to 70% of a product’s price).
INSTORE FINANCE
- funds and account verification
- provides consumer support
- handles all billing
- automates direct withdrawal
- full service collections
- Algorithms significantly reduce risk of defaults
- sends monthly checks to merchant
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APPROVAL PROCESS
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After FLEXXBUY InStore Finance identifies a worthy consumer, the consumer pays 30% to 50% down towards the purchase price (covering the your cost of goods) and pays the balance over 9
- r 18 months.
To qualify for FLEXXBUY InStore Finance store credit consumers must provide: Pay down payment at register proof of an approved bank account a $49 processing fee To qualify for FLEXXBUY InStore Finance store credit consumers must provide: Pay down payment at register proof of an approved bank account a $49 processing fee
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PROOF IS IN THE NUMBERS
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In 2013, InStore Finance merchants averaged $144K in added sales (some as high as $775K)
Our average merchant recovers 90% of the total sale amount. Our average merchant recovers 90% of the total sale amount.
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90% PAYMENT SUCCESS RATE
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① You collect 30% at the point of sale. ② You earn 100% of all interest. ③ We handle all collections for you.
How we collect on your past due customers: email account delinquency notifications send monthly collections letters contact all customers twice a week for 90 days send to 3rd party collections after 90 days How we collect on your past due customers: email account delinquency notifications send monthly collections letters contact all customers twice a week for 90 days send to 3rd party collections after 90 days
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FEE STRUCTURE
*We only earn the 5% transaction fee if we are successful collecting the customers monthly payment
Who Pays… Per Consumer Contract Consumer $49 processing fee Consumer 14.9% or 19.9% (paid to the merchant) Merchant 5% service fee Merchant $100 one time setup fee
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CONNECTING THE DOTS
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$2,000 Sale @ 19.90%
$600 down payment = goes into your register $49 processing fee = 72 hours later from FLEXXBUY InStore Finance The balance is paid over the next 9 to 18 months.
You receive 100 percent of the amount collected less the 5% processing fee
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CONNECTING THE DOTS
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Store Cost Profit Margin Down Payment Monthly Payments
$600 $170 $170 $170 $170 $170 $170 $170 $170 $170 $600 collected at time of sale Additional $1,530 collected
- ver 9-months
$2,000 Customer Purchase Price and 9 Month Payment Plan
** You decide how much to take as a down payment and how many months to extend the payment plan
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