April 22, 2014
For Immediate Release
Another record-breaking year for consumer credit –CCS report loan approvals up by £75m
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 payment 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 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.
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Notes for the Editor
About Consumer Credit Solutions
Consumer Credit Solutions LLP was founded in 1999 by partners Andy Wallace and Peter Nicholson, and is the UK’s largest independent provider of point-of-sale credit to the home improvement and renewables sectors. CCS offers a wide range of finance products in partnership with leading ‘blue-chip’ lenders.
The business has a wide customer base ranging from independent retailers through to national companies, including: Hammonds, SafeStyle UK, Betta Living, Solarking, and Jacuzzi.
As part of its credit management service, the CCS team delivers business advice and training in sales and credit application completion. Last year CCS helped its clients achieve over £325 million in finance approvals.