New consumer finance programs help hearing providers better serve their diverse patients
May 10, 2011 – Charleston, SC: East Bridge Funding (EAST BRIDGE) announces the expansion of several new consumer finance programs that have been designed exclusively for the hearing industry. East Bridge has been successfully test marketing these programs with providers for several months and is ready for a nationwide roll-out. These programs where built and implemented to help providers increase patient satisfaction in today’s credit market and economy.
“Things have changed dramatically over the past 3 years. A poor economy and more government regulation have changed the consumer financing landscape,” said Daniel O’Connor, Managing Director of East Bridge Funding. “Major players in the consumer finance industry have seen delinquencies and charge-offs increase. The way these banks have structured their programs, it doesn’t allow them to be aggressive when it comes to approving various types of credit risks. In order to keep costs low to the provider, they have tightened up on credit as well as increased fees, such as interest rates, to the patients. This makes it hard for a hearing provider to give their patients the best customer service they can which is extremely important because of the demographic they serve.”
East Bridge Funding, in conjunction with its lending partners, have developed programs that allow for a much wider range of credit risks to be considered for approval. “We have taken in consideration the type of customer usually served by our providers. Many of these patients are older with limited income. They may have not had to finance anything in some time. This doesn’t mean that they are necessarily bad credit risks, but the big bank programs just aren’t structure to help this type of debtor. This makes it difficult for an audiologist to get their patient the products and services they need. With our programs, a provider can have a financing system in place where no one gets turned down due to credit issues”
The new programs can now be rolled out to most providers doing over $1,000,000 in annual revenue. East Bridge Funding has developed several formats and providers can choose the structure that works best for them and their patients. Implementation usually takes several weeks for due diligence and training.
About East bridge Funding
East Bridge Funding is a receivables management company offering unique consumer finance programs to businesses. Services provided include installment contract funding, accounts receivable financing, private label credit card programs, account servicing and bad debt collections.
For more information visit www.EastBridgeFunding.com or contact Daniel O’Connor, Managing Director at 843-971-7541, [email protected].
