Not all lease-to-own programs are alike. American First Finance, a Home Furnishings Association Solution Partner, proves this every day to furniture retailers.
AFF got its start in 2013 after founder Doug Rippel spent six months working in an Ashley store in Witchita, Kan., to better understand the relationships between tertiary financing and furniture retail. “We think we have a good understanding of the industry and what the retailer and customer both need in the tertiary financing space,” says Ara Hagopian, senior director of national sales for AFF. “For the credit-challenged consumers, we offer unique solutions to help them get what they want. And when the customer gets what they want, the retailer gets what they want, too, because a sale has been made. We’re in the business of making everyone happy.”
AFF offers a simple application for a retailer’s shoppers to submit. Eighty percent of applications are completed and approved in 10 minutes. What does it take to be approved through AFF? A recurring income of $800 per month, an active bank account for AFF to draw funds from, and either a Social Security or Tax Identification number.
“If you’ve got those, a customer is basically approved to go shopping in your store,” says Hagopian.
E-commerce game, too
AFF also offers help for retailers interested in dipping their toes into the e-commerce game. Hagopian says Cart Cash Solution keeps customers on a store’s website, not leaving to fill out an application on different browser tabs only to lose their way back.
“We have fully integrated solutions with most shopping cart platforms like Magento, Shopify, BigCommerce and Woo,” says Hagopian. “We’ve done the work so your customers can select an American First Finance payment solution in cart and check out without ever having to leave.”
He says retailers can be up and running with an e-commerce site in 45 minutes, and customers can get an instantly funded virtual debit card to use at checkout.
HFA members who sign up to offer American First Finance receive exclusive rebates:
- 1 percent for funded monthly transactions up to $150,000.
- 2 percent for funded monthly transactions from $151,000 to $300,000.
- 3 percent for funded monthly transactions exceeding $300,000.
Hagopian says versatility with consumers is one of the many ways American First Finance stands apart in the lease-to-own field. The more customers are willing to spend in your store, the more options they have for paying off their balance. “We want to give customers options, just like you do in the store,” Hagopian says. “If they want or need more time to pay off their furniture, we can work with them.”
For more information, call an HFA member specialist at 800-422-3778. Not a member of the HFA? Missing the benefits? Let us know you’re interested.