New division will work with larger producers to develop customized consumer finance programs
December 7, 2011 -Charleston, SC: East Bridge Funding (EAST BRIDGE) announces the launch of a new consulting division. East Bridge Receivable Advisors will work with companies to develop customized programs that better fit their needs based on what they sell, who they sell to, where and how they sell it. This service is available now to companies who currently produce $1M or more annually in consumer finance business or $5M or more in annual sales. Using East Bridge Receivable Advisors (East Bridge Adv), companies will be able to decrease costs and increase approval rates from their existing programs as well as be introduced to new ones that are specifically designed around their sales model and customer base.
“Since the downturn of the economy, East Bridge Funding has become very popular. When you have a lender network as large and as capitally equipped as we do in today’s lending environment, it has put us in a great position to handle most problems businesses face when it comes to their consumer finance program needs” said Daniel O’Connor, Managing Director of East Bridge Funding. “Traditionally, we have built programs for our lender network and marketed those programs to businesses that would need them. This has been very successful for us. However, during the past year we noticed an increasing number of larger producers contacting us with specific needs. What East Bridge Receivable Advisors does is consult with those businesses and bring them to our lender network in order to create a solution that is designed specifically for them.”
During the consulting process, East Bridge Adv analyzes the current program(s) the business is using and suggests ways to improve those programs. A plan of action is set forth and approved by the client. East Bridge Adv then takes the client to market and presents the opportunity to their lender network. “Our network is one of the biggest reasons behind our success. The lenders that are a part of it vary from large household-name banks, to smaller, more versatile lending institutions that can get really creative when it comes to consumer finance solutions” said Mr. O’Connor. The network submits proposals to East Bridge Adv at which point the client is informed of the pros and cons of each proposal and suggestions are made. Once the client chooses a program(s), underwriting and due diligence are done and East Bridge Adv sees that the client is approved for the program(s) selected. Mr. O’Connor continued, ”It is a great process. We really get to know our client and it is extremely satisfying to know that you have played such an important part of their growth and success. Consumer finance programs can be complex and play such an important part of a companies success. They shouldn’t attempt to secure programs without seeking the proper advice. You wouldn’t try to handle legal matters yourself”.
To become a client, companies must be in positive financial standing and must have been in business for 2 years or more. It is required that clients wishing to use these services submit documentation to show they are qualified.
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]