Don’t Be Fooled By The 0% Offer

By |2021-07-23T14:00:47-04:00July 23rd, 2021|Uncategorized|

Why do merchants offer financing to consumers that scream 0% Interest in big bold letters? Well, there are two primary reasons that explain it:Prime credit consumers have come to expect “free” money and to pay-over-time for a large purchase, andMerchants feel that this type of offer catches a consumer’s attention and makes them a more [...]

Introducing SweetPay Installments

By |2021-07-23T13:32:04-04:00June 24th, 2021|Uncategorized|

This week, SweetPay released its latest solution, SweetPay Installments, to new and existing SweetPay members. SweetPay Installments was built from a pre-existing partnership with IGW, a Rocket Loan affiliate, to integrate their services directly into SweetPay’s digital lending platform. The goal in mind? To create even more options for consumers to be able to [...]

The Importance of Inclusive Financing in a World of No-So-Good Credit

By |2021-07-23T13:33:18-04:00June 21st, 2021|Uncategorized|

What do many consumers' financial situations look like? Simply put, paycheck to paycheck. This standard of stressful finances often go hand in hand with having fair or even poor credit. A 2019 Experian Credit Review reflected 18% of consumers having just “fair” credit and 16% of consumers having “very poor” credit -- a FICO [...]

The Multi-Lender Need During a Pandemic

By |2021-07-23T13:34:48-04:00April 20th, 2021|Uncategorized|

Having worked in the consumer financing industry for years, I have now witnessed first-hand how two significant events have caused turmoil in the credit markets. First, the Financial Crisis of 2008-2009 and now the Pandemic of 2020. My first lending platform, LendPro, and now my latest platform, SweetPay, both work [...]

The Well-Kept Secret

By |2021-03-17T12:51:22-04:00March 3rd, 2021|Uncategorized|

You know your customers like to pay-over-time for large purchases, regardless of their credit worthiness. So, you spend time, energy, and money putting into place a consumer financing program. Now, you’re ready to have your customers finance their purchases. There’s only one problem. They have no idea you have consumer financing options! [...]

I’ve Seen That Movie Too

By |2020-05-04T08:16:45-04:00May 4th, 2020|Uncategorized|

Ever wonder what happens when the financial markets go into disarray? You don’t have to look back too far to recall the Financial Crisis of 2008-2009. Consumer lending took a double hit. First, lenders tightened up, or raised, FICO requirements of consumers applying for personal loans. Then, consumer’s credit scores dropped due to both income [...]

The Media That Cried Wolf

By |2020-02-25T06:28:50-05:00February 25th, 2020|Uncategorized|

Financial news media have sounding alarm bells over the last few years about rising consumer debt levels. They have pointed to new Fintech products, such as online personal loans, as a big concern. The media claim these debt instruments have recently grown rapidly. What they fail to point out is that consumers have been gravitating [...]

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