River Edge, NJ (PRWEB) March 16, 2011
The Need – In the wake of the financial crisis, many consumers and businesses have seen their credit cards or credit lines restricted or cut completely. Additionally, many manufacturers, distributors and retailers who see the consumers as their “end user” and driver of growth have witnessed a decrease in the amount of companies willing to offer these consumers retail financing programs such as “90 days same as cash” for larger ticket items. Even if a manufacturer already has retail financing in place, many times Silverstreak Funding can offer a second source for those applications that may have been turned down by the primary financing source, resulting in more sales and profit.
The Solution - While large banks do offer these programs, they typically do not want to deal with businesses that generate less than $500 million per year in sales. They also restrict their programs based on certain industries, such as not offering retail financing to Internet only companies. Silverstreak Funding offers an option for this type of underserved client because of the realization that the need is great for retailers and manufacturers to open up credit lines to potential customers as much as possible to generate sales in a credit restricted environment.
The Company- Silverstreak Funding is a company founded on the idea that new options for credit are available for those “non-standard” business scenarios that demand creativity and understanding to get completed. Silverstreak has the relationships and the ability to get these types of deals funded with little headache. In addition to its retail financing division, the company also offers alternative business loans. The company’s principal and founder, Neal Coxworth, is a 20 year veteran of the consumer credit industry with experience in consumer, retail, mortgage and business lending in a variety of underwriting, origination and management roles.