consumer finance – Consumer Finance

Merchant consumer financing to fuel your dream entrepreneurial venture

Every brooding or expanding business requires some sort of loan or credit for a wide range of reasons. It may be for the start-up capital, equipment, office, rental, and many such things. For start-ups or businesses that have either low credit scores or poor credit history, it would be very difficult to obtain a loan from a traditional bank. Also, the low credit score will shoot the interest rate exceptionally high, in case you are approved for a loan.

Lenders usually look more into just the credit score. Other factors that play a key role in loan sanctioning are: business or industry balance sheet, business license and permits, proof of collaterals, etc. In that case, merchant consumer financing seems to be a more feasible option. Some of the perks include less burden of an enormous upfront payment, fast approval, and less paper works.

Consumer financing empowers customers to make low monthly payments for a definite period for goods or services that would be otherwise difficult to pay upfront with cash or credit card. Client financing is solely consumer-centric, and several stores and businesses endeavor provides an exciting offer for the same.

For instance, a consumer needing medical equipment can finance their CPAP machine or portable Oxygen Concentrator today and make low monthly payments for 12 or 18 months. For a medical need, nothing more crucial than being able to obtain equipment quickly. The consumer benefits from the exemption of huge upfront expense and they’ll get peace of mind knowing they can pay the total expense in fixed amounts.

If you are looking for a business loan in Michigan to meet your urgent requirements, then you need to keep in mind the following steps to avail of the loan:

Business needs

You must assess how much money you need for your business. If you have a small business you might not apply for a large sum of money for business loan in Michigan. Understanding the optimum requirement will help you a lot at the time of repayment.

Finding a lender

You need to research which type of lender will suit you best according to your business needs. For conventional loans, you can always go to commercial banks. But their parameters are extremely strict. Non-bank lenders are another option that you may consider. They are more region-specific lenders that include banks and e-commerce sites that are interested in the economic development of those areas.

Documents to approve the loan

You may want the loan application package ready for merchant consumer financing. This includes the documents that are needed to be submitted to apply for a business loan. Generally, it includes a business plan, profit and loss statements, balance sheets, and cash flow statements. You may want to keep in mind that lenders may also check your social media pages while doing the background check. Once you have submitted the required documents, you may have to wait for the next 15-30 days for a response from the lender. You can check your e-mail on weekly basis for an update. Usually, the lender may require additional documents for granting the loan.

Opt for the professionals when it is about getting a loan because there’s no reliable option than going for the experts. Read the loan documents thoroughly before applying and pick a repayment process that is convenient for you.

All you needed to know about appliance financing!

automotive repair financing, consumer finance

Need a new HVAC but don’t have the funds right now? Don’t worry, you can always take an appliance loan! Well, if you do not have ample funds for an upfront purchase, appliance financing becomes an ideal alternative for you. The private lenders mostly provide such loans, and the terms & interest rates of the loan can vary from one lender to another. Another impressive thing about an appliance loan is that it does not have the same impact on credit scores in comparison to a credit card while purchasing a new appliance. These are not all though, there are plenty of other things that you must know about this financing option before you apply for one.

How to get an appliance loan?

The appliance loans are easily accessible if you opt for private lenders. At the reputed financing companies, you can apply for appliance financing at any time as its processing can be done even through online platforms. There is no need for you to put together countless financial records and documents either, which means, that you can get a loan to buy any urgently needed appliance at any time of the day without much delay.

Many private loan lenders operate online and require only basic documentation, thereby making the whole process less complicated. After the application process is completed, the lender will update it within 24 hours. If they need more details regarding you, they will make a verification call and talk to you. Once the verification is done, they will send you a promissory note or a simple contract to get it signed up. As soon as the signature procedure is done, they will dispatch the amount of money to your account within a week or within two to three working days depending on the policy of the agency you are opting for.

Why opt for appliance financing?

No credit checks

With an appliance financing loan, you will be able to purchase a new appliance at low, monthly, or weekly payments. You do not need to have a good credit score to decorate your apartment with the appliances of your choice. Also, in case of poor credit scores, several individual stores might reject your request for financing options, which is why it is best to opt for a financing company instead of relying on the appliance stores.

Return of appliance without harming credit score

Suppose, in the future, you no longer need some of the appliances, or you simply can’t afford the EMIs; in such a situation, appliance financing allows you to return the items without getting penalized or harming your credit score.

Fair interest rate

Purchasing expensive appliances with a credit card is a bad idea since it can increase the utilization rate and damage your credit score. Opting for appliance financing from a reputed company like Zip Loan is a much better option as they provide the consumer with affordable loans without any hassles. The interest rate can go as low as half of what the credit cards charge, making it a very favorable choice for financing electronic gadgets as well as furniture for both residential as well as commercial properties.

The final verdict!

Appliance loans come with fixed monthly payments that you can choose as per your convenience as well as eligibility. The payment must be done within the pre-set amount of time though, to prevent any debt accumulation. So don’t waste your time anymore! Reach out to Zip-Loan to avail numerous lucrative appliance financing options and get all the appliances you need today.

Legal Implications made Easier with Legal Loans

business finance, consumer finance

While setting up a corporate space, there is going to be a long list of requirements. These requirements have to be bought at the expense of the owner. Impossible a feat as this may be, some adjustments along with major financial arrangements will have to be made.

How does a business owner decide the best financial loan?

There are a number of options available for small, medium and large businesses to apply for loans. Zip-Loan is available with professional and expert consultation to help you understand the best way to select a plan.

Below mentioned are two standard but circumstantial suggestions based on your commercial requirements:

Firstly, the business owner will need consumer goods financing.This is in order to purchase the necessary office appliances, and tools, among other equipment. Making office supply purchases will also be an inevitable monthly requirement.

Secondly, there are a number of regulations and formalities that require legal assistance both professionally and financially. This is where legal service financing plays a significant role. During the course of your business goals, it may so happen that your company has to manage legal terms in court. At a time of uncertainty, being financially backed-up would go a long way.

While consumer goods financing hold a variety of flexible loan plans for its customers.

It would be important to state the options available for loans concerning legal fees.

Loan options available for legal service financing

Zip-Loan offers a range of options for Legal Service Financing, on a short-term or long-term basis. Some options may not require collateral payment before securing the loan.

Have a look at some of the options offered:

Personal Loan

This is considered above other loans because of its one-time legal venture. A personal loan can be used here for purposes of consultation and legal cases. The repayment options, although varies, can be paid over a fixed duration in installments. Mostly, this duration can go up until 10 years.

Personal Line of Credit

This form of credit if applied will be available to you only when the need arises. A certain amount can be accessed instead of borrowing a huge sum of money beforehand. The credit line can be renewed over time. During this period, the interest rate will only be charged when the amount is drawn.

Contingency Fee

Here, you will be charged a set percentage of the compensation that you will be rewarded if the case is won.

Legal Payment Plan

This is an affordable plan as compared to personal loans. It does not incur additional charges on interests or installments.

Being aware and having a clear understanding of the type of legal financial services you require makes for sound selection. After you have decided the loan you wish to acquire, you may approach our expert personnel who will be available to assist you with further requirements.

If you select credit options then your credit history would be a prerequisite. This is because legal fees and loans come with several terms and conditions. For further details, consult with Zip-Loan administrative services.

What Your Broken Down Car Can Do For You

automotive repair financing, consumer finance

There’s a long day ahead of you.

-Pick up the kids from school

-Take them for football practice

-Attend a soirée with your partner

You are done with dropping the kids at school. Now, you need to get to work but avoid daily traffic. You plan your day while taking the next left onto the highway. The vehicle slows down in the middle of the highway. Your car has broken down. You are stuck at a point where the rapair garage is not until a few miles away.

This should have been the least of your troubles. The repair will take time so your partner will have to pick up the kids from school, and take them to football practice. Now, your partner’s schedule has been ruined.

How does automotive repair financing help?

You call professional services to take your car to any car repair garage. After this, you hail a taxi to get back to the day’s work. The next thought reaching out from the back of your mind is the cost to be incurred for the repairs. You still don’t understand the extent of damage.

A reliable automotive repair financing program is thus, required in order to secure your vehicle and state of mind.

Our financial lenders can cover cost involving:

Auto Repair & Service
Tires & Rims
Car Audio
Collision Repair & Custom Work
Transmissions
Engines, Brakes & Tune-Ups

No minimum amount loan for automotive repairs

One of the features of automotive repair financing that you will benefit from is the fast payment system and high quality customer service. You will get instant credit processing with multiple ledgers. The interest rates are flexibly affordable as well.

You will get merchant discount rates depending on the loan service selected. There will not be any merchant requirements; and also zero risks associated. Other financing options include car audio and auto parts financing.

What if you want to buy a new vehicle?

You must have heard of consumer goods financing. Well, it helps here as well. Here’s how.

The car you own keeps breaking down and you don’t want to opt for another repair loan.

In that case, you most definitely want to sell the old vehicle and buy a new one.

You could use a car exhange offer but it won’t exactly cover the total expenses for the new purchase.

Zip-Loan offers customer loans also known as consumer goods financing.

The following costs will be covered:

Electronics
Appliances
Bicycles
Car Stereo & Alarms
Musical Instruments
Other Products Over $500
Exercise Equipment & Sports Equipment

You will get easy access to credit for emergency expenses, including rewards for paying back on time. Added bonus – a convenient interest rate and zero collateral.

Your broken down car can be repaired using the repair loan backup. On the other hand, you could simply buy a new one through consumer goods financing. Whatever you decide, Zip-Loan is here to offer you a flexible and convenient capital advantage.

Need for consumer goods financing For Automobile Repair Business

automotive repair financing, consumer finance

Owning an automobile repairing company is a challenging business and comes with a fair share of hurdles. But as you know, the more difficult levels bring more opportunities. That is why you would prefer to invest your time and money in the auto repair business. In the last year, 2019, the auto repair industry generated a revenue of $69 billion . So you have a good opportunity to make money.

Need for money

So the first question that will crop up in your mind is, what are the cost heads that make the business need such a huge capital for a start-up? To be precise, there are three categories for investment in the business.

Equipment

When you have to buy the right equipment for repairing the vehicle lifts, air compressors, or engine hoists, the investment will be high. The price tags are quite high for the equipment, and the maintenance cost is equally high. The more smart tools you can get, the better will be the repair work. You have to adapt to the latest technology and tools to diagnose the issues and find eh solutions. Without automotive repair financing, it won’t be possible to invest in the premium quality of equipment.

Rent

In this particular industry, your shop location matters a lot. Being in a prime location with heavy traffic always gives you a better opportunity to get business. More cars will bring in more customers when someone owns a car, and there will be glitches. The rent for space will be high as you have to arrange for a bigger parking area for storing and working on the cars.

Insurance:

The insurance premiums for covering the liabilities of car repair are not at all cheap. So, the expenses of the services are also equally high. So you should not increase the service charge for the clients anymore to support business expenses. With the help of financing, you can manage without increasing the service charge.

Finance for goods

When you want to purchase a few products but don’t have the money, you can apply for consumer goods financing. It is also a good way to purchase equipment for the business or some tools which are expensive, and you do not want to spend the money now. The best part is the reward or perks that you can enjoy if you can repay the amount within the stipulated time. But you have to assess the condition cleverly before making the decision.

For instance, you need to repair a piece of expensive equipment immediately. But you cannot afford to do so now. What if you get the option to have the finance without any collateral and at a convenient interest rate? Well, it will be a better option than taking another business loan.

A better option

On pairing up with a quality company like Zip Loan, you can easily get the loan and that too, at attractive discount rates, which won’t burden the business. Repaying these small loans will be easier than repaying a business loan if your requirement is low.

Impressive Way To Get Your Car Repaired With Automotive Repair Financing

consumer finance

Just because you have invested a lot of money in the latest car that does not mean the vehicle will last for decades without showing any distressing signs. Being a mechanical product, your car will break down after a specific time. Maybe, you are not in that financial state where you can get your car repaired without going bankrupt.

Reliable automotive repair financing services will come as a saving grace during such instances. Thanks to financial help from banks and other institutions, you can get the right monetary help to repair your broken car. These loans come in handy with moderate interest rates and for a short period. So, head towards the best financial institution for the right help you need.

Checking out the offset insurance deductibles:

If you do have a high deductible car-based insurance policy, then you have been enjoying some lower monthly premiums for now. However, unfortunately, if you end up crashing your car, that same old high deductible might knock you down! So, in place of dipping right into the emergency fund, you can quickly get your car repairs financed by the loan package and make the monthly payments on time to get rid of it. Even a bigger deductible will cost you less on the monthly pay scale, which becomes more manageable.

Should you opt for one?

Whenever you decide to pay a hefty amount for the vehicle work, there are so many things to take into account before choosing any car repair financing sector. Even before getting one, you should consider the available options. For example, if the car is pretty old, it is better to buy a new one rather than invest in old repair work.

Make sure to pre-set the present worth of your car. If it still has some juice within, then getting it repaired seems to be a fair plan. Moreover, compare the repairing cost of your old car with that of purchasing a new one. Make sure to create a simple budget of the entire cost related to required repairs. If that, by somehow, overlap the price of a new car, then you better go for the second option.

Go for the mechanic financing:

If you have decided to repair your car’s broken parts, then mechanic financing might be a good option. Some mechanics have already partnered with lenders to offer the best financing option. It can be through a personal loan from a lending partner in a payment plan or just the use of credit cards. Some are even associated with firms like Zip Loan. You better work out with them for the payment plan before getting yourself involved in one.

Some might offer you interest-free financing for a few months. It can be great if you pay off the credit card or loan before the introductory period gets to expire.

The reliable financing institutions will provide you with other monetary help like consumer goods financing and more. So, do check out with them for some thoughtful results.

The Positive Aspect Covering the Field Of Medical Equipment Finance

business finance, consumer finance

Whether you are running a small private clinic or a big hospital, leasing is proven to be a popular way of procuring the much needed medical tools and equipment. Some of the latest surveys show the healthcare equipment leasing market is subject to grow at 6.77% CAGR through 2021. (ref: https://www.beckershospitalreview.com/finance/what-you-need-to-know-about-medical-equipment-financing-and-leasing.html) It is because of the high-end competition between providers, limited capital budget, and the evolving equipment sector. You need to know whether you are up for leasing medical equipment or financing them.

Ways equipment financing work:

In general terms, equipment financing refers to the practice of just taking out a loan to pay for equipment, with the passing time. By choosing medical equipment finance, you can own the asset after paying the entire money with time. It works great for those organizations with stronger credit and a niche towards mature technologies.

Financing is gaining popularity because of restricted capital budgets. Even though most of the equipment financing is collateral debt, the loan amount can easily impact the available credit line. As most of the medical equipment costs quite a lot, it is better to work with the financial partners only. Another reason is the added interest cost. Your credit and debt source will help to determine the interest rate that needs to be factored into total ownership cost.

Always invest in advanced medical equipment:

In case you are making plans to use loans for purchasing equipment, then it is better to go for the advanced equipment. There is no need to wait any longer to save up money and get one when the financing option is on your way.

Most of the advanced medical devices will use less energy to work better. It helps in lowering your electricity bill, which improves the overall financial health of the medical institution. On the other hand, advanced medical equipment is effective in treating patients’ injuries and diseases well. The recovering time speeds up, which, in turn, improves the patient’s life.

Able to budget rather accurately:

It is true that keeping a straight budget for medical equipment is no joke. You have no clue when the market houses new equipment or when your old equipment might die. There are times when you are in need of one sudden replacement. If you haven’t planned to purchase new equipment yet, forcing to spend thousands of dollars on any new product can be quite a budget buster.

However, when you are financing medical equipment, you will receive a bill that needs to be paid in installments every month. It helps you to pre-set a budget as you know how much you need to spend on that equipment on a monthly scale. So, accurately creating a budget for your expenses to cover medical business becomes an easy task.

Next time you are looking for such financial help for medical business, be sure to catch up with the professionals working under Zip Loan. The team offers some of the best loan packages to consider. Moreover, if you are interested, you will receive customer financing programs from the same source as well.

Growing Reasons behind the Popularity of Legal Service Financing Among Attorneys

Business loans, consumer finance

It is true that legal funding helps to alleviate demands from all the needy clients on attorneys’ resources and time. It does that by empowering clients to match up with their financial obligations while the case is winding its current way through a lengthy procedure. In reality, Legal Service Financing provides lawyers with the utmost freedom to perform their tasks well.

Benefits designed for attorneys:

From any lawyer’s point of view, legal funding will create the necessary buffer right between the client’s financial pressure and the successful prosecution of the case. Everyone knows that litigation is one time-consuming procedure. The process is rather measured in months and years instead of days. So, while everyone waits for resolution, clients are often left exposed financially. They aren’t able to earn enough for covering basic needs like medication, housing, food, and more.

Helping guide for the legal workers:

As attorneys are typically prohibited from present clients with financial aids, they spend a disproportionate amount of time to solve financial issues in place of attending details of the case. So, the case gets impaired, and the attorney is rather frustrated by the inability to offer legal expertise.

At this point, the legal funding works well. It is hard for the attorney to see their clients forced to settle for early settlement as they can’t afford to proceed further financially in the legal process. However, legal funding helps to level up the playing field by providing attorneys enough time to fight and win the case on the client’s behalf.

Helping law firms to increase revenues:

Some legal workers are tired to accept less than their full retainer. Others are even stuck with some uncollected accounts receivable. Most of the time, attorneys are put in some difficult positions of turning away a person from any legal assistance or accepting compromised retainer fee. That’s when the legal financing guide comes to the rescue.

It will work for the attorneys and let them help their clients without jeopardizing the fee. The legal service financing will present extended and flexible payment terms for those with sub-prime and prime credit scores.

Commercial banks might work sometimes:

For those individuals with good credit scores, commercial banks can offer loans to finance any law practice. Even online lenders are there to extend their helping hands. However, the charged interest rate will be in your favor with the credit cards. But, a lawyer in need of a bank loan for his practice must be well prepared to jump through some major hoops.

Banks will often make loans depending on the borrower’s capital, capacity, and collateral. So, it is up to the clients to offer financial information about practice to demonstrate that the legal firm is able to repay the loan later with better interest.

Catching up with the professionals:

Next time you are looking to get hands-on business finance loan or legal service financing, ensure to catch up with the experts from Zip Loan. This financial technology firm mainly specializes in retail merchants. The team uses technology to offer financial services with maximum ease, speed, and even transparency.

Everything You Need to Know About Consumer Goods Loans

automotive repair financing, consumer finance

Consumer Goods Loans are effective solutions for common people to buy home appliances, vehicles, electrical appliances, electronics, and other such items at easy installments. People generally take up these kinds of loans for buying automobiles, house appliances, kitchen appliances, and others. Another important factor is that consumer goods financing applies only to the products or items that have a warranty on it.

How Does the Consumer Goods Loan Work?

The consumer goods loan is processed easily and directly to the account of the seller without the interference of the customer’s account. After the payment is made, the customers will be signed up for the repayment in installments.

The installments are decided upon the interest value and the period of repayment chosen by the customer or consumer. The consumers are allowed to choose a tenure of up to 24 months while availing consumer goods loans. Different institutions offering consumer goods loans might have a different rate of interest and repayment tenures. The auto loan repayment tenure can be up to 2 to 7 years and are typically a secured type of loans.

You can also give some amount of the total money as a down payment to reduce the installment amount and the interest money. Most of the consumers prefer clearing the maximum possible amount by giving the down payment, after which a minimal amount remaining is put up for repayment in installment as per the loan aspects.

There are many such goods that a normal family cannot afford with one-time payment schemes. Therefore, this is a vital option for those individuals who want flexible payment schemes over one-time.

What are the Documentations Essential for Getting Consumer Goods Loan?

There are not many documents essential for the process, as you just need to show identity proof, address proof, and income proof. These are the only things that you will need to produce to the financial institutions for availing the consumer goods loans in no time.

For buying some of the bigger products such as automobiles, you might need to produce your bank statements as well. But for the smaller devices, appliances, or others, these documents might not be asked on a strict basis.

Reasons to Consider Consumer Goods Loan

Here are some of the reasons for which you must consider consumer goods loan on priority:

You get an additional payment method for buying your favorite goods.
The approval rate is fast, and you can make same-day purchases.
You can also avail auto-pay options so that you do not need to manually pay the monthly installments again and again.
Some institutions offer No Cost EMI for a stipulated tenure for the consumers to avail.

These are a few of the things that you must know about consumer goods financing from any of the professional financial institutions. Zip Loan is one of the popular financing firms that offer consumer goods financing solutions at a low-interest rate. Not only that, but you also get other finance solutions such as automotive repair financing, business loans, and others. Reach out to them to know more about them today.

Why people look for different financing options for select situations in life?

business finance, Business loans, consumer finance

Not all families are financially strong to fulfill their luxury needs. This is the reason for which prefer taking up financing options with a decision to pay a subtle interest to the principal amount for buying the luxury needs. With the help of the top financing firms, the middle-class families can manage to buy the amenities that were not possible earlier. As in 2019, there was over 105 billion Euros of new consumer lending stated by the FLA members that showcases the demand of consumer good financing.

https://www.fla.org.uk/research/consumer-finance-key-statistics/

In this article, you will know about the perks that people get on different types of financing solutions such as consumer good financing, automotive repair financing, or others.

Increased Trust of the clients with the firms

Usually, the clients or customers find it difficult to trust the firms unless they find it legit. One amongst the other options is legal service financing, where the top firms will offer you financial assistance for your legal proceedings. Some of the property or other legal acts require hefty financial backing to win the case or turn into your favor. Considering that, the financial firms offer a legal service loan system to help the clients and customers in the process. This ensures the trust and rapport of clients and organizations. So, to keep it constant, the companies make sure to offer flexible payback options.

Faster processing of the loan applications

Con

–does not take time for the processing as everything is online today. You just need to give your correct credentials and choose the options for financing in which you are comfortable. Once you do that, you will immediately get your payout in your account or will be transferred directly to the company from where you are purchasing the goods. After this, you will be given an installment scheme with an interest rate for your payback, which will be flexible enough for you without much hassle.

Less Risk factors

The professional firms have a team of experienced consultants who will help you understand all the legal aspects of financing before proceeding with the application. If you are financing for the first time, then the risk concern in mind is quite genuine for the additional interest charges that will come on you. Do not worry as the best financing firms are transparent with the consumers in terms of interest rate and other information. So, you do not need to worry about any financial burden on you for availing consumer financing options.

Here are the three best reasons for which people look up to different types of financing options available with the top firms. You can seek legal financing options, automotive repair financing, consumer goods financing, and many other such options. Zip Loan is one of the top firms that offer consumer financing options with the best rate of interest without any hidden charges. So, get in touch with the consultants of Zip Loan today to know more about their offerings.