Retail Finance Provider

Retail finance offers credit to the customer at the point of sale. Retail credit allows for the purchase of goods or services, whilst spreading repayments through instalments across select time periods, such as 6, 12, or 60 months. Whilst traditional transactional methods force the customer to seek external financing methods when buying an item using credit, retail finance allows companies to keep things internal, by offering applications and credit via partners such as Funding Falcon.

Retail finance, or retail credit, can be applied to many methods, with the most commonly used in the UK being as follows;
· 0% finance
· Bullet loans
· Buy Now, Pay Later
· Finance with Applied Interest

Retail finance is a great sales driver, as it makes retail more accessible than ever to the customer. Offering credit in this form at POS increases big ticket purchases without necessitating price alterations.

Retail finance can provide a substantial boost to sales across many sectors. It is not particularly suited to one sector more than another, and is used widely throughout the UK by businesses offering jewellery and fashion, consumer electronics, luxury goods, home improvement, electronics and appliances, medical procedures, and vehicles, just to name a few.

Companies wishing to offer their customers finance or credit can either administer loans independently, or partner with a third-party financing firm, such as Funding Falcon, to manage applications and credit on their behalf.

Offering retail finance, or retail credit at the point of sale can be the difference between a big-ticket purchase, and the loss of a customer. Once partnered with a retail finance provider, credit can be offered at the point of sale via an easy-to-use application system. This is most commonly completed on a tablet computer when offered in store.

Funding falcon usually returns a decision regarding applications within 45 seconds.

Retail finance has a long list of benefits for businesses of all sizes. Listed below are just a few;

· Increases in sales and average spend - on average finance can increase sales by 40% and average spend by 200%

· Extra cash flow - By giving your customers a way to pay, you are securing your sale, and driving your cash-flow upwards.

· More customers - 72% of the East of England use consumer credit as purchasing power.

Credit makes retail more accessible to customers, and is hugely beneficial to both the company, and the consumer.

Retail finance providers often have a minimum turnover requirement for partners. This, however, is not the case with Funding Falcon. With us, there’s no minimum turnover, no minimum years of trading and no waiting list. To find out more, take a look at our membership tiers today, or get in contact – one of our finance specialists will be happy to assist you.

With Funding Falcon, there’s no need to worry about cash flow. Any purchases made with retail finance with us are paid in full to the customer, who will then pay the retailer or business. The customer answers to the lending company, meaning providing retail finance through funding falcon is risk-free.

All of Funding Falcon’s products are regulated, meaning an FCA licence is required in order to access our lending network. If you wish to work with us and do not have an FCA licence, your business will be registered under our licence as an IAR, or introducer appointed representative. This process will take between 10 and 20 days.

Our packages start from £900+VAT annually. Check out our pricing page for a full range of annual prices or call our offices for multi-year deals.

Yes, we do take care of the FCA licence for you. As well as submit documents and reports to the FCA.

The APR starts from 3% and the overall result will depend on the customers own personal circumstances, credit history and affordability checks.

Your company will become an Introducer Appointed Representative (IAR) of our licence, this means that you will be authorised and regulated by the FCA, whilst you are under our membership. If and when your membership with us draws to an end, you will no longer hold any type of licence with the FCA. You must obtain an IAR with us even if you already have an existing IAR with another finance company. You will be exempt from needing this licence should you hold a consumer credit licence.

You do not need a minimal turnover amount or trading time, we understand that each business has its own purpose and end goals therefore we do not determine which companies we work with by either of these. Call one of the team today to see if we can work with you.

We charge only an annual or multi year fee. Other than this we DO NOT charge any additional costs to any of our members.

Depending on which package you decide to go for we will provide the option to process applications online.

Unfortunately, this isn’t something we offer. We do have a range of financing available including; Commercial lending, unsecured, secured and guarantor lending - which is all interest bearing.

Indeed, you will have access to updates, via the online portal. You will be given both access and training for this as part of the final stages of your membership process.

We pay the customer directly, this is the easiest and most hassle free way to use finance! It means that you bill the customer and they pay you in a lump sum amount directly, like a cash buying customer would. There’s less hassle and worry too - as any missed payments or defaults of any kind won’t fall back on you, but instead are between the lender and the customer.

Yes we do! At Funding Falcon, we are delighted to offer a range of retail finance packages to SMEs (small to medium enterprises) across a range of industries. We offer retail finance packages to SMEs from as little as £81.00 per month (including VAT) that feature no minimum turnover requirements.

In our ongoing commitment to financial transparency, we’ll never take a cut of your individual sales. Coupling this with the cutting-edge, 24/7 Portal access you will receive as part of your package to manage and process your customers’ applications means you can secure and expand your customer base with ease.

There are many ways to improve your SME’s cash flow but having a flexible payment option at the POS can help massively. Forrester concluded having a flexible payment option at the point of sale (such as a retail finance option) could increase the number of sales by 17% on average.

This same study concluded that a retail finance platform might make large purchases manageable, and so a customer is more likely to think that they can make a larger purchase than they otherwise normally would. This can potentially increase the average order value by 15%.

By introducing a flexible payment platform from a retail finance company like Funding Falcon, you could both maintain and expand your client base, and the frequency and size of the purchases they make.

As a business, there are many ways you can benefit from offering retail finance to your customers. These can include potentially increasing your average number of sales, average purchase value, and number of customers. By offering retail finance to your customers, you increase their flexibility and means to make purchases.

By offering a finance option at the point of sales (POS), you increase the accessibility of your products or services. Your customer may be more inclined to make a high-value order that they normally wouldn’t, or if they’re on a budget, being able to spread the cost may help persuade them to convert. Forrester found that offering a POS flexible payment option can, on average, boost sales by up to 17%.

As we have discussed, the accessibility of your products or services increases with a retail finance option. This means that higher value products or services can be considered by people who would otherwise not be willing to pay the whole charge in one go. This in turn means that average order value (AOV) tends to increase, and Forrester found that introducing retail finance can increase AOV by up to 15%.

With a greater number of people available to access your products or services as a result of retail finance, your business will be in a greater position to build long-lasting relationships with its customers and to ensure customers come back to you again and again. With more people likely to make the purchase, and more of them likely to return, your customer base could expand.

Buy now pay later (BNPL) effectively does what it says on the tin. Your customer can order the product or service now, and then spread the cost across an agreed period, paying at regular intervals. Some providers will refer to this as a point of sale (POS) credit option.

In a nutshell, the way this works is quite simple. Once a customer has made their order, instead of paying at a physical or digital checkout, they opt for a BNPL option. In this case, the BNPL service provider will pay the retailer, under the agreement that the customer will pay back the BNPL provider over an agreed period of time. This enables customers to spread out their expenses.

FCA stands for the Financial Conduct Authority. This UK regulatory body is the conduct regulator for more than 58,000 financial service firms and markets and has the role of keeping the UK financial industry stable, protecting consumers, and ensuring that good competition can be maintained among financial services.

The FCA, whilst regulatory, is independent of the UK government. The main goal of the FCA is to ensure that the financial markets (and the services they contain) are fair, honest, and effective so that consumers are treated fairly, and know exactly where they stand. The FCA sets the standards, so by working with an FCA-regulated organisation you can ensure that all financial services are above-board.

Funding Falcon’s finance platform is a combination of the retail finance service we offer our clients, and the cutting-edge online portal we give our clients access to. Funding Falcon’s finance platform is revolutionary; enabling your business to offer fast and flexible payment options to your customers when they need it.

Our retail finance platform offers an up to 95% approval rate, 45 second finance decisions for your customers, a dedicated account manager to handle your requirements, same-day pay-outs, membership package pricing and more. Depending on your membership, you can also benefit from your own branding on your finance portal, having up to 6 user accounts, and a finance application plugin.

A finance provider is a corporate body that either lends money or provides credit as a matter of business, arranges, or enables equity or debt finance as a matter of business, or an organisation that secures, enables, or plans for invoice discounting or factoring as a matter of business.

This does not include businesses or organisations that enable customers to secure products or services on credit, only by providing these products or services before payment of part, or all, of the amount due is paid.

A common example of this exclusion would be a supplier to the trade enabling their customers to order “on credit”, for the amount due to be paid in full or in part later. This supplier to the trade would not be a financial service provider.