The Consumer Revolution

How does consumer financing come about?

On May 1, 1893, the gates opened at the “World’s Columbian Exposition” (Chicago World’s Fair).  Among the many consumer products to be introduced to the world were, Cream of Wheat, Juicy Fruit gum and Pabst Blue Ribbon Beer.  A young man worked at a repair store at the Fair for a dollar a day.  The young man’s name was Gerard Swope and he would bring consumer credit to the masses and change so change the world.

The store in which young Gerard labored was that of General Electric.  GE had been founded by Thomas Edison in 1890, and by the time that Gerard Swope would become the company president in 1922 General Electric was already a giant in the electrical industry.

Swope wanted to find a way to meet the booming demand for household electrical appliances.  Gerard Swope decided he would do something radical and do it on a grand scale.  He decided to offer credit on purchases to consumers.  Swope realized that demand for consumer goods was booming and so he gave great attention to meeting that need.

Swope understood that in order to acquire such household goods as vacuum cleaners, washing machines and of course refrigerators, consumers need credit to enable them to pay for these items over time.  Gerard Swope hit the nail right on the head because by 1930 consumer products accounted for fully half of General Electric’s business.

Today, people are still buying refrigerators, vacuum sweepers and washing machines as they were in the time of Gerard Swope; but, today consumer contract financing can also be provided for consumers with subprime credit.  In addition, those consumer receivables or consumer notes, as they are sometimes known, can be sold at a discount to a source willing to purchase them.

Access Funding Center, Inc. has been in business since 1999 and can discuss with with you the possibility and advantages of selling your consumer notes in order to enhance your cash flow and increase your profitability.  By selling your consumer receivables, you are selling an asset and therefore are not creating debt.  You also save money, time and energy on servicing your accounts as well as doing collections should your consumer contracts become delinquent.

When Gerard Swope took leadership of General Electric in 1922 the company’s annual sales stood at something like $200 million.  When Swope retired in 1944 GE’s sales had grown to $1.35 billion.  Swope understood the power of consumer receivable financing, and so must you to succeed in today’s competitive market.

In a little over twenty years Swope pioneered an awakening of a commercial American giant making previously inaccessible technological inventions available to everyday people through the power of consumer contract financing.

Are you tapping into the power of the American commercial culture through making whatever consumer product or service which you are providing available to prospective clients through consumer receivable financing?  A great advantage to you as a small business owner is that you can make financing available to even your subprime credit customers.  At the same time, you will not have to wait a year, or two years or three years to slowly receive monthly payments.  The best part is that you can sell your consumer contracts at a discount and acquire the capital you need to be competitive in today’s markets.

Contact Access Funding Center, Inc. and will consult with you about consumer receivable financing and how it works.