SurePay Instant Credit – How It Works
With traditional financial institutions clamping down on credit, it makes it nearly impossible for good clients without ideal credit to qualify for a loan. Thus, the demand for alternative financing has materialized, with alternative lenders (like SurePay) who are willing to provide funding options in order to help merchants acquire more clients and to help clients acquire more products and services. It’s a match made in heaven. You have stuff and services, your clients want stuff and services…SurePay makes the stuff transfer and the services all possible…which means more revenue to you and happy clients that get stuff.
SurePay does this by becoming a finance partner with qualified merchants (like you), and by providing your clients with loan options, they wouldn’t qualify for otherwise.
SurePay provides what are called Retail Installment Contract (not loans or leases) and as a result is different than most alternative finance options for consumers. This means greater flexibility in funding for products or services, it also means the client will own the product, as opposed to “leasing” or “renting” it.
Do these situations sound familiar?
How many of these same clients would come into your store, reach the check-out register and leave with a product or service if you could advertise and offer them an INSTANT CREDIT option with a 90-DAY SPECIAL OFFER period and early payoff DISCOUNTS?
So how does the SurePay program work?
Are you losing clients due to sub-prime credit or their inability to pay up front? The SurePay program is an automated, on-line loan solution that makes approvals fast and doesn’t require a credit inquiry. This is NOT a rent-to-own solution. SurePay does not require collateral and as a result, SurePay credit solutions can be applied to all types of merchant services (not just products).
Technically, as the merchant, the client will initially sign a Retail Installment Contract with you, afterwhich, the rights to the contract are immediately transferred to us (SurePay) through an assignment form. We will handle everything from there including collections and payment processing.
In order to facilitate the credit, the merchant will be required to discount the product or service by up to 6% which is due at the closing of the contract (will be subtracted from the contract amount transferred to the merchant). The client will benefit from this discount and the merchant will benefit from additional revenue. The client will also be asked to provide a minimal pre-paid finance charge, due at closing. Once the loan has been funded, the client has 90 days to take advantage of the special offer, which includes minimal to no additional finance charges, but which requires the client to make all payments in a timely manner and then payoff the balance within that same time period. If any part of the balance is carried beyond the 90-Day window, the client may still payoff the balance any time before the 12-month term and receive an early buyout discount applied towards the final payoff (balance).
SurePay has developed an automated credit approval program that provides your clients with instant credit. This alternative financing is one of the easiest steps to increase sales, without any risk to the merchant. You will retain more clients and be able to provide those same clients with desired products and services. There’s no reason to have clients walk away because of a lack of funds or inability to qualify for traditional financing. SurePay’s program will look at every angle to find a way to provide a loan for the majority of your clients…regardless of credit history.
This changes everything.