It’s not easy being a business selling big-ticket goods and/or services. Wouldn’t it be great if every customer paid cash for their purchases? Or at least had room on a credit card to swipe and be done? But, that is not how many consumers like to purchase things that cost several [...]
Over the last five years, online personal loans from lenders known as financial technology, or “Fintech”, lenders have garnered much attention. Fintechs rapid growth has taken marketshare from traditional lending sources, such as banks and credit unions. This blog will attempt to answer why this is happening. Methods of Paying-Over-Time Up until recently, there have [...]
You’re a small business operating with larger, more established competitors all around you. You may feel overwhelmed, intimated, or inhibited. Your products and service are just as good as those of your larger competitors, but you feel it’s unfair they get all the attention. Stop the pity party! Most successful businesses, large, medium, and small, [...]
You may not have heard of the term “FinTech”, but you most likely have been in contact with a FinTech! Fintech refers to a new generation of online banking and lending solutions, though definitions varying widely; “Products and companies that employ newly developed digital and online technologies in the banking and financial services industries.” Merriam-Webster “FinTech, [...]
The year 2018 was a robust year of consumer lending. Online personal loans and retail consumer finance both saw upticks in lending volume as the consumer was in better financial health and lenders had plenty of capital at their disposal. Lenders were eager to work with businesses to get their capital out to consumers. Did [...]
Don’t you just love the holiday season? It’s full of excitement, with family and friends getting together, fantastic meals that somehow don’t get prepared until this time of season (what’s up with that?), creation of your gift wish list, and, don’t forget, charitable donations. It’s that last item that sometimes gets overlooked in all the [...]
Given this is a post-election blog, I thought it would be appropriate to ask, can’t we all just get along? No, I don’t mean republicans and democrats – come on, let’s get real! I mean debt and savings! These two financial instruments seem to be at odds with each other, both in the minds of [...]
Many would have you believe that Americans should not be in debt. Well, with consumer debt totaling $3.778 trillion in the 3rd quarter of 2018, it looks like a lot of people didn’t get the memo! Debt, including revolving lines of credit and installment or personal loans, is not inherently bad. In fact, it’s been [...]
You would think that since consumer financing is numbers-based – a loan amount, length of term, and interest rate equals a monthly payment – it would be considered science. In the words of coach and ESPN College GameDay analyst, Lee Corso, “not so fast!” Things are often described as being either art or science, mainly [...]
Most of us have used a phrase from the past that has stuck with us years later. The phrase, “You can pay me now or pay me later” is one many of us remember and use. It’s from the FRAM oil filter commercials in the 70s and 80s. The implied meaning of the phrase in [...]
