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How To Offer Financing To Boost Sales

In today’s market environment, offering a financing solution is a must for online coaches, high-ticket service providers, and anyone else who sells anything that costs more than a few hundred dollars.

Credit cards and their low limits and high-interest rates don’t cut it for larger ticket sizes.

"Self-Financing" by providing in-house payment plans is even worse - as many customers never complete their payments to term, and even when they do, it's often after exhausting the company's time and resources with payment collection processes.


If you would like to boost your sales by understanding how to expand your payment options by offering financing, keep reading.

In this post, we’ll walk you through the basics of how to offer financing to customers to boost conversions.

How Consumer Financing Works

Consumer financing (also known as customer financing) is a payment option that allows customers to pay for large purchases (or high-ticket items, if you will) as affordable monthly payments with interest (the interest rate is usually determined on a case-to-case basis), instead of paying everything upfront.

As mentioned earlier, this financing option is a type of consumer credit that doesn’t rely on any issued card, but another independent financing platform.

The entire process is fairly simple:

  • The business offering consumer financing as an option partners up with a third-party financing firm

  • The financing firm sets up the structure for customer financing (whether on the website, in-store, or both) and looks after everything

Whenever someone opts for it, the financing company will run a quick credit check (the time-frame depends on the company, but Free Life Funding provides instant decisions within 1 minute with no negative impact to the customer's credit).

Once the application process is complete and the customer’s credit score meets the requirement, the customer will typically be funded directly within 5 business days, and then will be able to pay your company directly.


(Free Life Funding, however, has removed this intermediary step of the customer receiving the money and actually funds your business directly when you close sales to eliminate payment collections all together - but more on that later.)

The customer will repay the amount to the finance company over a specified time period, which will depend on their preferred payment plan with interest, or within a set promotional period with no interest.

How To Choose A Finance Company

When you work with a finance company that already understands your industry, chances are they already have some workable programs in place that work for businesses similar to yours.

Otherwise, you may have to work with the finance company to develop some programs that suit your business and customers. 

Whatever financing partner you choose, look for one that meets the following criteria:

  1. Understands and is committed to your industry, specifically. Free Life Funding knows online business like no other.

  2. Makes it easy for customers to apply. Free Life Funding provides a simple online portal that fits seamlessly into your sales process.

  3. Looks at more than just credit scores. Free Life Funding factors in total household income as well to improve approval odds.

  4. Makes decisions quickly. Free Life Funding provides instant decisions with no negative impact to your customers' credit.

  5. Pays you quickly. Free Life Funding funds your company directly within 72hrs of your approved customer confirming the order.

What Would Your Customer's Monthly Payment Be?

Use the slider below to determine your client's estimated monthly payment.*

Quit Chasing Payments And Never Lose A Sale Again

Because We Fund Your Company Directly
When You Close High-Ticket Sales!

* The monthly payments above range from great to average credit. Challenged credit will have higher monthly payments. Actual monthly payments may be lower or higher depending on your client’s credit profile. For example purposes only.

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