New consumer finance programs help jewelry retailers respond to changing market conditions.
May 17, 2011 – Charleston, SC: East Bridge Funding (EAST BRIDGE) announces the expansion of two consumer finance programs that have been designed specifically for the jewelry industry. East Bridge has been successfully test marketing these programs with retailers for several months and is ready for a nationwide roll-out. The programs are available for both online and traditional retail stores.
“We have seen a large increase in the number of jewelry retailers that have been contacting us looking for alternative programs,” said Daniel O’Connor, Managing Director of East Bridge Funding. “Anytime this happens, it is usually due to changes that the larger players in the jewelry financing space have made to their rule books. With the economic climate being what it is, banks are continuously changing their programs to adapt to increases in delinquencies and/or defaults. This usually results in tighter credit restrictions and decreased credit limits on approvals rather than increases in pricing which can lead to losing market share more rapidly.”
Daniel continued by saying “What we have done, is bring programs to the market that are designed for current market conditions. Primarily what this means is that the programs are able to approve a wider range of credit risks while at the same time, still offering the same promotional programs and competitive pricing that retailers expect. We have two new options, one being a credit card and the other being a closed end installment loan. This way we can fit any jeweler’s business model.”
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.