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From Home Furnishing Business

Versatile Credit Partners with Arkansas Homefurnishings Association

Versatile Credit, which links lenders with consumers applying for credit in retail stores, has partnered with the Arkansas Homefurnishings Association.

The Little Rock, Ark.-based association has more than 500 retail members and associates, providing them with lobbying, education, consultation and a sharing of home furnishing retail experiences. 

“Access to adequate consumer credit is vital to the success of our members,” said Randy Lann, executive director of Arkansas Homefurnishings Association. “The Versatile Credit solution has proven to increase applications and approvals, both leading to increased revenue. This is the type of partner we want to make readily available to our members.”

The Versatile Credit kiosk solution is used in thousands of retail locations throughout North America. Applications denied by a primary lender are instantly sent to secondary lending sources, helping retailers reduce credit denials by as much as 40 percent.

“We are excited to partner with the Arkansas Homefurnishings Association,” said Kevin Lawrence, vice president of marketing and sales for Versatile Credit. “Versatile’s Credit Cascade is the perfect solution for retailers interested in increasing credit applications, approvals and average ticket transaction amounts.” 

Lawrence explains that customers are more willing to apply for credit and consider sub-prime lending options when they are in total control of the process. Versatile Credit says that retailers using the Versatile Credit solution typically see a 20 percent increase in credit applications and 15 percent or more in average retail ticket increases.

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