Simple
Once the line is open, they can make purchases at any time with their pre-approved credit. No new application for each one.
Financing programs
Why Revolving Credit Is Preferred
Revolving credit is the most popular form of lending. Retailers, department stores and banks rely on it because it's simple, flexible and keeps working after the first purchase.
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What it is
One credit line. Open it, pay it down, use it again.
A term loan is a fixed amount, repaid on a fixed schedule, and gone when it's paid off. A revolving line is pre-approved credit the customer draws on whenever they need it. Paying it down to zero doesn't close it. The full line stays available.
| Feature | Term loan | ISPC revolving line |
|---|---|---|
| Payment | Fixed monthly amount | Small minimum, any amount above |
| Term length | Fixed, must be explained | None |
| Total interest expense | Must be disclosed | Not applicable |
| Pre-payment | May carry a penalty | No penalty |
| At zero balance | Loan closes | Full line stays open |
For your customer
Simple to use. Flexible to repay. Still there next time.
Flexible
They can borrow against the line as often as they like, within the limit. A small monthly payment is required, but they can pay down any amount, up to the full balance, whenever they choose.
Ongoing
The line doesn’t pay off and disappear at a zero balance. Pay it to zero and the full credit line is still there for future service or purchases.
In practice
A water treatment system opens the line. Service, filters and upgrades use it for years after.
The first purchase opens the account. Routine service and future purchases go on the same line with no new application. That is also why it works so well for dealers.
For you, the dealer
Easier to explain. Easier to close.
Water treatment needs ongoing maintenance to perform properly, so a revolving line fits the relationship you already have with the customer. It also removes the two things that most often stall a sale: term lengths and total interest figures.
Add charges simply and risk free
Routine service, parts and upgrades go onto the customer’s existing account. ISPC handles the rest.
Terms that take one sentence
There is an interest rate and a minimum payment. No term, so no months-or-years conversation.
No total interest figure to defend
Because the line is built for ongoing purchases, the disclosure shows no total interest expense, the number that most often kills a sale.
The customer stays in control
They pay as little as the minimum or as much as the full balance, with no pre-payment penalty. Control is what makes them comfortable saying yes.
The bottom line
An interest rate and a minimum payment. That's the whole conversation.
The customer decides how fast they pay, with no pre-payment penalty, and stays with you for the next purchase.
Talk To A Financing Specialist
See how a revolving program fits your water treatment business.
