Retail Installment Contract financing is a consumer finance program for businesses that allows consumers to pay for a product or service over a period of time with fixed money installments.
A legally bound installment contract must consist of the following:
- Total amount due
- Interest rate
- Duration of the contract
- Amount of monthly payment
- Late fees, Down payment received, cancellation or refund clauses.
We provides the vendor the proceeds of the sale and then we collect payments from the consumers. Most businesses don’t know that there are special consumer financing programs for businesses. We offer consumer financing programs including retail installment contract financing to a wide array of business.
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