In Preferred's on-going effort to be an innovative resource for our retail partners, we have sought out and found a second and third look NO CREDIT NEEDED financing company that is currently driving 10-20% incremental, year over year, revenue gains for their retail partners.
Many of you have already signed up with Synchrony Bank or Wells Fargo and are aware that we are seeing 55% of applicants getting approved, leaving 45% applicants with no viable option to finance their purchase. We see this as a problem and have now found a solution.
Progressive, our new financing partners will approve roughly 80% of applicants who get denied by Synchrony and Wells Fargo. There are some major highlights that I know all of you will be happy about.
Here is a list of highlights that we have negotiated for our retailers:
Preferred members are on a 0% discount platform.
Progressive does not eat into your profits, they want to simply drive revenue.
Progressive is a NO CREDIT NEEDED financing company.
Progressive has an 80% approval rate.
The application process is very simple.
Approvals come back in 10 seconds. Preferred has authorized Progressive to contact you directly.
You will receive a phone call from Progressive’s set-up team.
You will have merchant support 7 days a week 364 days a year.
We would urge each of you to take full advantage of Progressive.
We believe if properly used Progressive will increase revenue by
at least 10% - 20% per year.
To offer Progressive Leasing at your store contact: