BuyMax Consumer Financing
What is Consumer Financing?
Consumer financing is when businesses offer their customers financing options through third-party companies.
Why Should My Business Offer Consumer Financing?
Consumer financing can help your business stand out amongst the competition and make it easy for your customers to say YES to costly, but necessary repairs. In addition, consumer financing can help your business:
- Increase your customer’s buying power
- Close More Deals
- Increase Average Ticket Size
BuyMax Consumer Financing Partners
Through our preferred lender group, which includes trusted institutions like Ally Lending, GreenSky, and Fortiva, we have curated a selection of lending products tailored to meet the specific needs of each project. These financing options may include a variety of installment loans and promotions, such as the popular 6-month no interest, no payment promotion from Ally Lending. By offering such flexible payment options, you can better serve your customers and drive higher sales.
Below is a list of our partners and criteria for each so you can determine which partner is right for your business.
Is Ally Lending the Right Choice For Me?
Ask yourself these questions:
- Have you been in business for over 1 year?
- Do you finance at least $250,000 in sales annually?
If you answered yes to both of the above questions, then Ally Lending is the right choice for your business.
Ally Lending offers your business consumer financing with 0% dealer fee installment loan options and exclusive promotions to provide the best payment solutions to boost your sales, average ticket size, and revenue.
With Ally Lending, you will benefit from:
- Variety of Installment Loans: For example, rate of 10.99% APR with a 0% Dealer Fee
- Variety of Promotions: For example, no interest and no payments for 6-months
- Customer Pre-Qualification: Soft-Pull on Credit
- Max Approval: Approval for more than requested amount when applicable, which allows for upsells and any change in the project scope
All loans are unsecured personal loans, originated by Ally Bank, Member FDIC and Equal Housing Lender . Subject to credit review and approval.
Is Greensky the Right Choice For Me?
Ask yourself these questions:
- Have you been in business for more than 1 year?
- Is your total annual financing volume anticipated to be less than $250,000?
If you answered yes to both of the above questions, then Greensky is the best vendor to fit your consumer financing needs and offers your customers:
Offers Customers Options & Close Deals
- Deferred interest plans1
- Credit limits up to $100,0002
- Ranging plan options to suit the needs of many buyers
Delight Your Customers
- Easy: Customer selects plan
- Paperless: Customer applies easily via mobile app or phone
- Fast: Credit decision
Get There Fast
- Provide credit decisions within seconds from application submission3
- Funding process begins immediately upon authorization
- Use the GreenSky Merchant Portal to process progress payments up to your staged funding limit
1Subject to credit approval. Interest is billed during the promotional period, but all interest is waived if the entire loan amount is paid in full before the end of the promotional period.
2Subject to credit approval.
3Applications with data entry or credit check complications may be decisioned in a period longer than seconds.
Second Look Funding
If your customers don’t qualify for financing through your preferred consumer financing vendor, don’t worry! We offer second look financing through Fortiva Retail Credit.
Fortiva approves customers that have been declined by other consumer financing partners.
By being able to offer your homeowners a second look vendor, you will benefit from things like:
- Approvals down to 500 FICO
- Approves up to 45% of your prime financing turndowns
- Get paid via ACH within 24-48 hours
- No minimum amount needed to finance
Your customers will have access to credit lines from $5,000 all the way up to $40,000, deferred interest options, affordable monthly payments, and more.