No credit needed financing providers at a glance

No credit needed financing

No credit needed financing providers at a glance

Numerous finance companies are ready to partner with retailers to chart along with responses from five companies that market their offer no credit needed financing options for their customers. Areas services to tire dealers: Acima LLC, FlexShopper LLC, Snap Finance to consider when evaluating their programs are presented in this LLC, Tempoe LLC and West Creek Financial Inc.

Question

Acima

FlexShopper

Snap Finance

Tempoe

West Creek Financial

How long does it take a dealer to qualify for your program?

Less than 48 hours from the time you have submitted the required enrollment docs to us.

The application process takes 3-7 days. Rollout depends on the number of stores.

Just a simple five- Typical dealer set minute application. up process takes

1-2 days.

Dealers are approved in 24-48 hours.

Startup or upfront costs to a dealer?

None

None

None

None

None

Dealer transaction fees?

The standard merchant discount is 0%; in some rare cases a 2% fee may apply -- ask your enrollment specialist more.

None

Customized

There are no discount or transaction fees. There are also no application or processing fees for the consumer.

West Creek has multiple programs that are among the lowest cost to the dealer in the industry.

Technology required Internet and either

by dealer?

a Mac, PC, tablet or

smartphone.

Internet connection; we provide the rest.

Internet access (Snap is cloudbased -- no downloading or special equipment required. Just log in, and start growing your business.)

The company provides several flexible payment options that can be directly integrated with the POS, the waterfall repayment system, and third-party providers. We also provide standalone solutions through web-, kiosk- and mobilebased applications.

All the dealer needs is an internet connection.

Employee training required?

Some -- while the process is easy, your team will be asked to at least be part of an online training that is no longer than 20 minutes. Live training is also available.

Initial training at the time of launch, and frequent follow up and support thereafter.

Yes, conducted on-site by Snap account executives; online follow-up and continuing education as well.

Comprehensive on-boarding training for all dealers.

West Creek will train all employees on using the portal as well as techniques on how to transition to a lease-to-own sale. Training takes 1-2 hours.

Typical type of approved consumer?

Someone with a reliable source of income and a checking account.

General profile of a subprime consumer, that is, no available cash or credit to make necessary purchases.

Snap approves all types of consumers, from prime credit to credit challenged.

Consumers who meet the minimum required criteria: minimum 18 years of age, have a valid government issued ID, a valid U.S. address, bank issued payment option, a minimum monthly income of $1,000, cell phone, and valid email address.

Consumers with poor or no credit.

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No credit needed financing

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No credit needed financing providers at a glance

Question Approval rate?

Approval amounts?

Close rate?

How long does it take for a dealer to be paid the full amount of the sale?

How long does it take for consumers to qualify for financing?

Describe the consumer application process.

Acima

FlexShopper

Snap Finance

Tempoe

West Creek Financial

85%

90%+ when the Up to 80% or more 90%+ when the 80%+ and some

customer applies

customer applies cases close to 90%.

with accurate

with accurate

Contact for more

information

information

details.

Up to $2,800

Up to $2,500

Up to $4,000

Up to $2,500

Up to $5,000; average approval is approximately $1,800.

Up to you; we can 85% of in-store

85%

N/A

80%+ of approved

only approve the

approvals take out

consumers.

application.

a lease.

0-48 hours is standard.

Retailers get paid the full retail price no later than two business days.

Within two business Retailers are

days.

funded within 24

to 48 hours.

Payment is done via ACH (automated clearing house) within 48 hours of delivery to the consumer.

About 20 seconds longer than it takes a customer to fill out an app and click "submit."

Application process Five-minute cloud

takes minutes; the based applica-

decision happens tion. Instant online

in seconds.

approvals.

Instant decisions, Most decisions are

with no paperwork complete in 1 min-

requirements.

ute or less.

Customers can apply from their smartphone, at home through your specific link, or interview style with you at the point of sale through your portal login.

Customer creates a profile and fills out the application to receive a spending limit. Decision in seconds. Retail employee submits a lease order through our online portal. Customer signs lease either in the store or on their smartphone and receives the goods.

Share your basic info in a quick and easy form, and we do the rest!

Customers complete a short application. They receive an instant decision with an approval code that is utilized in the cart process to complete the sale.

West Creek has an online portal where the consumers enter their applications.

Promotional details.

Contact for more information.

It's hard to beat 0% and no fees. Our standard offering is better than any promotion you will find.

acimacredit. com; marketing@ ; 801-297-1984

We provide retailer with promotional materials (posters, banners, mouse pads, pens, etc.). Incentives available to sales reps based on a per lease basis. Up to $75 per lease based on volume thresholds.

Customers can apply in-store or online, even on their phones, making Snap a fast and easy way to get customers approved and into your store.

We support retailers with custom marketing campaigns through a variety of channels and frequencies throughout the acquisition, activation, engagement and retention lifecyle.

West Creek provides all point of sale free of charge. Additionally, a free web link and application text function is provided to every store. West Creek also markets directly to your customers at our expense.

. com; help@ ; Carlos.sanchez@

snapfinance. com; snapsales@ ; 833-442-8840

Matt Welton, vice president of sales, 614-601-1479, MWelton@ ;

Bob McCarthy, bob@ ; westcreekfin. com: 844-WC-TIRES (928-4737)

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