B2C Financing: Not Just For Large Corporations
B2C financing (Business-to-Consumer financing) used to be solely for large corporations, chain stores, and the automotive retail industry. However, startups, small businesses, and even medical practices are embracing the advantages of B2C financing to grow their operations and maintain a healthy cash flow.
An Overview Of B2C Financing
B2C financing is a service offered by commercial finance companies. Once implemented, customers apply for financing at your business. With a simple phone call to the company providing B2C financing services, a credit check will be run on applicants to determine the amount of financing they have available, and what their monthly payments will be. Approved applicants will then be able to make purchases without having to budget for one large payment, but rather manageable monthly increments. The whole process takes only a few minutes.
Advantages For Customers
Customers put off purchasing the goods and services they really want or need due to the upfront cost. Many times their personal budgets do not allow for the things they want, so they settle for what they think they can afford. In the case of healthcare, medical bills are often left unpaid in lieu of more immediate cost-of-living expenses. B2C financing spreads out the total cost across monthly payments, making purchases much more budget-friendly.
Advantages For Businesses
On the other side of the coin, B2C financing means there is a steady stream of revenue from customers. The nature of this financing encourages customers to make larger purchases, and the manageable payments means invoices are not left open, nor do they have to be sent to collection services. By offering financing and payment options, businesses can build a large and loyal customer base. Additionally, business-to-consumer financing gives businesses the ability to offer creative incentives, such as “zero percent financing for the first three months” to draw in new applicants. B2C financing is easy, convenient, and can provide steady capital for growth and expansion, while simultaneously preventing cash flow problems.
If you would like to learn more about B2C financing, or explore any of our other solutions for growth-focused businesses, call Vantage Commercial Capital at 913-543-4242. Our team of experts will work with you directly to structure a custom financing strategy to help you meet your business goals.