THE GUILD IS DELIGHTED TO OFFER 'PRO' MEMBERS A FACILITY TO INCREASE SALES BY OFFERING CUSTOMERS INTEREST FREE CREDIT.

Retailers must be authorised by the FCA to operate regulated credit products. The exception to this rule is Interest Free Credit for up to 12 months in duration, when the Interest Free Credit is subsidised by the retailer. Obviously though, small businesses don't want to wait up to 12 months to get their full payment. That means the only way to offer the service is to go through a broker and lending house who pay the small business the full figure of the sale upfront minus the subsidy, and the customer then pays the Finance House back.

Typically finance houses insist on a huge minimum turnover, which is why so few photographers can offer this service.

However, offering interest free credit has massive commercial benefits, so the Guild has stepped in and obtained a unique deal for members.

ANY BUSINESS THAT HAS A CREDIBLE FILED SET OF ACCOUNTS CAN APPLY TO OFFER INTEREST FREE CREDIT TO IT'S CUSTOMERS (ie you need your most recently filed set of accounts which demonstrate profitablity)

You won't have to wait to get the money your customers borrows either - you get what the spend 'upfront' from the Finance House and your customer pays them back. 

IT IS AN EASY, FAST AND FUSS FREE WAY TO INCREASE PROFITABILITY - AN INCREDIBLE OPPORTUNITY!

It is a easy, fast and fuss free way to increase profitability.

How does the service work?

  • The customer fills in a simple online application form for the amount of Interest Free Credit they want
  • This can be whilst they are with you, as applications are usually processed within a few minutes
  • Once approved the Lending House will immediately forward you the full amount borrowed minus a small management fee (8.5% - 11.6%)
  • The customer then pays back the Lending House over the next 6-12 months as agreed
  • The finance contract is between the customer and the Lending House (you have no risks or issues even if the customer defaults on their payments)

Don't forget that in all cases you get the money your customer spends upfront, so it can be reinvested to offset the subsidy cost.

Should you wish to know more please contact laura@photoguild.co.uk.