The Guild are delighted to offer 'Pro' level members a facility to increase your sales by offering your 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 if a business approached a broker to discuss the possibility of offering 12 months Interest Free credit to its clients, the broker and finance house involved would insist on a minimum turnover in the region of £250K. This is why so few photographers can offer it.

Offering interest free credit has massive commercial benefits, so the Guild has stepped in and obtained a unique deal for its members. We are delighted to be able to offer an Interest Free service to all 'Pro' members who have been in business for 3 years or more and have a turnover of £30,000 plus (rather than £250,000).

You don't have to wait to get the money your customers borrows - you get what the spend 'upfront' from the Finance House and your customer pays them back. All in all .. THIS IS AN INCREDIBLE OPPORTUNITY!


What are the business benefits of offering customers Interest Free Credit?

It is a easy, fast and fuss free way to increase profitability. Spreading the cost of a purchase is common place – whether it is a piece of furniture, TV, double glazing or a holiday, consumers are tuned in to financing their purchases and customers who use finance to purchase will often spend more and buy what they really want resulting in increased transaction values and greater sales volumes.

  • Promoting a finance offer will broaden your customer base.
  • Simply advertising on your website or elsewhere that you offer Interest Free Credit adds to your professional image
  • Interest Free and "No deposit required" options are excellent marketing tools to attract new and existing customers.
  • Interest Free is an opportunity to upgrade your customer by offering alternate payment options.
  • Customers using finance are likely to spend more, enhancing your turnover.
  • Improved cash flow due to full monies being paid next working day.
  • Offering great finance deals will keep consumers loyal providing repeat business.


What are the benefits to your customers of this Interest Free Credit Service?

  • Customers can realise purchase that they thought were out of reach.
  • No deposit is required
  • They can have easily affordable monthly repayments
  • It's a quick and easy application process.
  • There's no need to use their credit card paying high APR's
  • Customer loyalty – they will return to repurchase more with an Interest Free offering.


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 90% of applications are approved within minutes
  • Once approved the Lending House will immediately forward you the full amount borrowed minus a small management fee
  • 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)


It will cost me money to offer this service though won't it

Yes, there will be a small fee per transaction, as the Broker and Lending house need to make a profit, but the Guild believes this is a manageable increased cost/ fee when you consider the real potential to increase your profits. The Guild wouldn't promote this service to its members if we didn't believe it could significantly increase its members business profitability.


Think of the possibilities!

EG - A client loves your £1000 package but only has a budget of £500. You could offer them Interest Free Credit on the extra £500. Even though you will have a small fee to pay to subsidise the Interest Free element you have doubled the value of your sale and increased your profit massively.

EG - You could offer Interest Free Credit on your most expensive packages or products ONLY. This will entice customers to choose them rather than less expensive products.

EG - You could offer Interest Free Credit ONLY on spends above £X. This will entice customers to spend that much.

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


It all sounds good, but can you give me some figures ?

Your client has a choice of repayment timescales, as long as its 12 months at the most, so 6, 9. 10, or 12 months is possible. The % you pay to subsidise the credit is how much this will cost you for offering this service. In basic terms the cost is around 10% of the amount borrowed.


Here's an example ...

Let's say you have made a sale, or increased the value of the sale by £500 through offering your customer Interest Free Credit for that amount, and they decide to pay it across 10 months.

This will cost you the subsidy of 10.15% as shown above, which in this example is £50.75.

Within a few days, you will receive all the money from your sale or upsell, minus your subsidy. You have made an extra £449.25 from a sale that you wouldn't have otherwise had.


OK..I can see the benefits, what do I do next ?

Please confirm your interest by emailing nik@photoguild.co.uk. Nik will then forward your details to the Team arranging everything for us. They will contact you directly wanting to know that you are a 'Pro' member of the Guild that has been trading for 3 years or more. They will ask you to complete a simple application form, and produce evidence of your turnover. Following that they will give you the facility to offer at least £20k of credit to your customers (at no risk to yourself) ... A £20k boost of your turnover!



All in all - This is a great tool which can be used to increase your sales and profitability!

HMC Funding are the Team providing the service. Working across Europe and America, they have over 30 years' experience within the financial and insurance services sectors. They offer this service to many major brands including Hilton Grand Vacation. They do not charge any set up fees, admin charges etc (HMC are paid by the lender). They will be there to help you, showing you how to use their system for your customers and assisting with applications to the lender should you need help plus more.