Consumer Credit Solutions have reported another record-breaking year. The business approved loans worth over £325m in 2013 up from £252m in 2012.
Andy Wallace, Managing Partner at CCS, says the figures reflect the steady growth by clients in the Glass and Glazing market, and an unprecedented demand for credit finance from the Solar PV sector.
This year shows no sign of slowing down, with £111m in approvals in the first quarter of 2014, due partly to the high volume of sales in January and February by Kitchen, Bathroom and Bedroom retailers.
Andy said, “More and more retailers are recognising how important it is to be able to offer customers a range of repayment options. Credit finance is a very effective ‘soft sell’ marketing tool and it brings in customers who would otherwise not be able to buy. Clients from across all sectors have told us that offering credit has been a major factor in increasing sales and market share.”
“With the exception of one year, in 15 years of trading we’ve consistently met or exceeded our loan approval targets and in 2014 we expect to surpass £400m,” added Andy.