Consumer financing provides numerous benefits to your business by:
- Broadening your reach
- Differentiating your business from competitors
- Increasing affordability for more customers
- Boosting average order values
- Enhancing customer experiences and boosting customer satisfaction.
When you partner with United Consumer Financial Services, the leading consumer financing firm for quick payments, you also benefit from timely compensation that boosts your cash flow and helps you grow your business. Speed matters: fast payment is key for a robust consumer financing program. Read on to learn why UCFS’s fast payment processes are a must for your business.
Why Speed Matters in Business Payments
Cash flow is the cornerstone of business success, whether you operate a medical spa or an HVAC company, a jewelry store, sell whole-home water filtration systems, or anything in between. A solid cash flow strategy ensures you have the resources to cover overhead costs, like rent, payroll, and operating supplies, and plan for growth and expansion.
Unfortunately, delayed or missed customer payments are common hazards to businesses of all sizes and specialties. If a payment sits in accounts receivable for even a few days longer than anticipated, that can spell disaster for your business. Delayed payments delay cash flow, which means you don’t have the resources required to operate as you should.
But this doesn’t have to be the case. A solid consumer financing program driven by United Consumer Financial Services ensures prompt payment that puts money in your hands just one to two days after services are rendered or when you’ve provided the required filing documents, like an invoice. Fast payment ensures cash flow, helping your business maintain stability and growth while positioning yourself as a competitive player in your market. When you have the resources to invest back into your business, you have the freedom to make the kinds of decisions that help you gain an advantage over your competition, grow your business, and better serve your customers.
The Pitfalls of In-House Financing
When implementing a financing program, there are a few things to consider, and speed of payment is at the top of the list. When businesses attempt to handle financing in-house, they often run up against unexpected issues that waste time, energy, talent, and money:
- In-house financing assumes all the financial risk – If your business approves customers to accept monthly payments, your business assumes all the risk of complete repayment. You make a $5,000 loan and it’s not repaid – you lose that money! With UCFS, our merchant agreement includes a statement about UCFS assuming the consumer repayment risk.
- In-house financing requires significant overhead – Because running a financing program is so intensive, most businesses must hire a full-time employee to handle contracts, collections, and customer care. This means resources must be allocated for salaries, benefits, and workspaces.
- In-house financing consumes precious time – Businesses that cannot afford to hire a new team member to handle a financing program must manage paperwork and collection in addition to existing responsibilities. Running a financing program requires significant time, which is a valuable resource for every business.
- In-house financing increases the chances of compliance errors – Regulatory requirements constantly shift; businesses running in-house financing must stay on top of these changes to ensure compliance. Unfortunately, compliance issues are common and often result in hefty fines and penalties.
- In-house financing slows payment collection – When a customer is late on their payments or misses a payment entirely, it’s the business’s responsibility to track down the customer and collect payment. This is a time-consuming and often fruitless endeavor.
Attempting to run an in-house financing program can cause problems for your business. You need a trusted, proven provider that can meet your needs with fast, direct payment.
How UCFS Ensures Fast Payments
When payment speed matters, choosing the right consumer financing firm is critical. UCFS ensures prompt payment that supports your business today and into the future. Here’s how:
- Strong Financial Backing: UCFS is a Marmon Holdings company, which is a division of Berkshire Hathaway. With this strong backing, UCFS consumer financing has consistently paid merchant partners for over 45 years. Other finance companies have stopped serving merchants, but not UCFS! Through good and bad economic conditions, UCFS is strong and here to support and pay merchants right away.
- Daily Merchant Payments: UCFS processes payments every day. We know business doesn’t stop for our clients, which is why we’re working every day to ensure you get the compensation you earn and need to run your business.
- Payment Triggering Process: We trigger payments at 3 p.m. every business day. Our consistency and predictability help us cultivate trust with our clients, whether they’ve partnered with us for decades or days.
- ACH Processing: ACH transfers go out the next business day. We know you can’t wait on payment and that a robust cash flow strategy requires prompt compensation.
- Funding Timelines: Our partners receive funds within 1 to 3 business days. Our speedy approach to payment ensures your resources are in your accounts—where they belong—as soon as possible.
When you partner with UCFS for consumer financing, you benefit from our fast payment process that positions your business for growth. UCFS empowers businesses with:
- Improved cash flow and business stability
- Ability to reinvest funds quickly
- Enhanced customer experience through seamless financing
- Peace of mind with compliance initiatives that ensure adherence to regulatory requirements.
Fast Payment with Consumer Financing that Works
United Consumer Financial Services has provided business clients with consumer financing solutions for over 45 years. We’re committed to prompt payment to our merchants, but we also prioritize your clients with financing solutions built for real-life consumers.
We offer:
- Straightforward application and prompt credit decision so that you can proceed with the sale
- High approval rates that help you onboard more clients while making your services more accessible
- Simple, stress-free payment options that serve the customer
- A transparent fee structure that contributes to a positive client experience.
UCFS provides the consumer financing solutions you need to sell more and grow your business with prompt payment that you can rely on. Connect with our team to learn more.