Credit Solutions for Leasers and Rent to Own Businesses

Credit Solutions for Leasers and Rent to Own BusinessesWith an economy that has had to learn to live with less accessible credit, consumers are looking at leasing and rent to own businesses as a way to make major purchases. These types of companies sell anything, including appliances, electronics and furniture. As an owner of this type of small business, you are trusting your company’s assets to a person who is either strapped financially or trying to get back on their feet. Traditional credit scoring does zoloft not fare well in these types of businesses as most of their client base either accutane dosage has never had credit or lost their good credit history during the financial downfall. Alternative scoring methods will give you a better understanding of the individual’s financial stability now and their ability to pay. Companies like Experian base their credit assessment on an individual’s past payment history. As the population is crawling

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out from a recession, it is safe to assume that the score will not be favorable for the mass majority who apply. New credit scoring companies are looking at recent history and taking into account wether abilify there is a steady income and the monthly bills are being paid on time. For a leasing or rent to own business, setting up an alternative credit scoring solution would be easy. With an online program, they would only need to enter some information about the client and wait for the response. This could take just a matter of minutes before a decision is made. By looking at criteria that is normally overlooked by the big credit scoring companies, a rent to own or leasing business has the ability to offer their goods to an untapped market. Hundreds of thousands of stores and companies are missing out on sales opportunities because they cannot look past that credit score number. The reality is that it is just a number and not really telling you what the customer is capable of paying. The other untapped market that an alternative credit scoring company is beneficial to is those individuals who have not yet established any people out of fear of how they make their payments. Ignoring their buying potential could be costing the retail industry millions of dollars each year. Leasing and rent to own businesses who cater to these otherwise un-creditworthy individuals have the power to increase their sales exponentially. Setting up the alternative credit scoring program is easy, as is making it work for your business. Before turning away your next potential customer, consider adopting an alternative credit scoring system in your rent to own business. The profits will grow exponentially once you start extending credit to those who are being considered undesirable by the big three credit scoring companies. [wpsocialite]