• What is the interest rate?
    • There is not an interest rate. We purchase the merchandise from the store, and the customer lease the item from us until it is paid off. The program works similar to a rent-to-own store, except the leasing agreement is much better.
  • So how much will the customer pay in the lease?
    • This will depend on how long they keep the lease. ALL terms are 9 months long. They can save money by paying the lease off early. With our 90 days same as cash option they will only pay a 10% application fee, that’s it. After day 91 they have a 65% buyout option. If they keep the lease the full 9-month term then they will pay a lease factor rate of 1.7. (Example $300×1.7=$510). However, we encourage our customers to pay off the lease early. Most customers are repeat customers, if you show them how to save money they will return to your store again & take out another lease. Most of our customers are repeat customers!
  • What does it cost the store?
    • There are no fees whatsoever to the store owner, NO fees, No minimums
  • How long does the process take?
    • It takes a few minutes to fill out the application, the customer will receive a response within 30 seconds, they will either be Instantly approved, Denied, or additional documentation will be required. The additional documentation can be a copy of their driver’s license, bank account info, or pay stub. It is usually just one of the three items, NOT all three items. After the customer has been approved, they will have to sign an agreement which typically takes about 20 minutes for the dealer to receive.
  • Who can be financed?
    • Anyone who…
      • Has a job and a bank account, and is at least 18 years old! There is NO credit check!
  • What about retirement or disability income?
    • Absolutely, retirement income is accepted! Permanent disability is accepted! Sorry, short term disability is not!
  • Which states is financing available in?
    • Financing is available in every US state, except for Vermont, Minnesota, New Jersey, and Wisconsin
  • What happens if the customer stops making payments?
    • Missed payments do not affect the store. Once the merchandise is delivered and the store is paid, they are no longer obligated to the customer financially. There’s no recourse or chargeback.
  • Can the customer finance items other than cell phones?
    • Absolutely! While we are specifically looking for cell phone stores, you can finance any electronics, Jewelry, or car audio, plus many other items!
  • How many customers are approved?
    • 8 out of 10 customers are approved.
  • How much money can a customer finance?
    • The minimum is $300 & the maximum is $2400. However, $300 is the official minimum. We have seen as little as $160.
  • How much sales does a store typically increase with the program?
    • If promoted correctly in your store we usually see 20-30% increase. Some stores even double their sales!
  • How long does it take to get the program up and running after the store signs up for it?
    • After we receive completed paperwork, it usually takes 2-3 business days
  • How long is the lease for?
    • Each lease is for 9 months maximum. There are 2 buyout options.
      • 90-Day Payment Option: The customer pays only the invoice amount plus the 10% Application Fee within 90 days of the delivery date.
      • 65% Buyout Option: If the customer wishes to own the merchandise outright after 90 days, they will be given the buyout price that is 65% of what they owe on the lease.
  • When does the store get paid?
    • The store takes 10% at the Point of Sale, and the remaining 90% is paid to the store 2 business days after the agreement is turned in.
  • Is there any risk to the store?
    • No! There is absolutely NO risk or liability to the store owner. If your customer does not pay we never come to the store owner. There is never a charge back to the store!
  • What if the customer decides to return merchandise?
    • Returns are handled with your normal return policy. If you take returns within 30 days then continue your policy. If they make an even exchange, we need not be notified. If the transaction needs to be reversed then you would simply contact your account manager for assistance.
  • I’ve heard of this! Is this the same as Progressive Finance?
    • Yes! We are Progressive Finance brokers, specifically specializing in the cell phone industry. We will lend you our experience to ensure your success!
  • I’ve never heard of you, who is Express Solutions?
    • Express Solutions is a broker for Progressive Finance. We were specificially contracted to work with cell phone stores like yours! The owner of Express Solutions has over 10 years experience in the cell phone industry. Progressive Finance has been in business since 1995 and has over 5500 merchants Nationwide! We are commited to your success!
  • Do you have any references or any other stores using your service?
    • This program is used in most Metro PCS and Cricket stores across the country.
  • What about training and ongoing support?
    • We provide FULL training on how to use our system as well as back up with training videos and Presentations. You will also be assigned an account manager that you can call at any time for support!
  • Does the customer have to pass a credit check?
    • Absolutely NOT! Good credit is NOT required! They just must have a job and a bank account!
  • How does the customer make payments?
    • Payments are automatically withdrawn from the customer’s bank account on their paydays.