Fragbox Financing

[JmeJReefer]

Obviously, you will be aligning with a collection agency as non payment on smaller orders plagued every online financing site. I can see financing on larger orders of hardware etc. but on a small order, it's more work for you book-wise, and should someone actually default on payment, it could take sometime before you see any money, meaning you will have to cover the costs while you wait. It then starts spiraling from there, one more, then one more.... It saddening to realize that some ppl will try to burn you, and some accts you may never recover. You just gave coral away.
I would say to do some deep research about interest free loans and think of every possible bad scenario resulting from non payment. It's been thought of before, with little to limited success...IMO. Your intentions sound great, but the intentions of thieves should be considered. Non the less, frag box has been my coral source of choice, and the drive to exceed customer service only solidifies my return business!!!

[Slyguy00]

Well said

[fragbox.ca]

We really appreciate the kind words JmeJreefer and appreciate your business !

We decided to offer financing from a customer service stand point and to offer a convenient/ different way to pay for frags and perhaps attract new customers. We know we are not the cheapest store out there ; )

We realize that not everyone is honest. With any kind of loan there is the risk of loss but it can have its advantages. We hope to experience an increase in sales, monthly inflow of $ and we hope to move a larger amount of frags rather than sit on them


If it doesn't work and we end up losing more than we are making then it will shutdown but we wont know without trying! No risk no reward.
We are always thinking of new ways to improve our service and offer things competition wouldn't dare try.

We appreciate all the feedback and insight
please feel free to message us any ideas to help out or improvements

[uniboob]

Lol. Bad idea IMO but good luck.

[kien]

I think it's a novel idea. Some people spend as much (or more) on marine corals/equipment as they do on new furniture. Why not allow them to finance the purchase? It's simply an option, not a requirement.

Fragbox has treated me great and we have already talked about financing with amazing results.

For anyone interested I do suggest it as an option. Great store to be a part of through this or fully paid orders. Love the products like there HALO bulbs and the coral has always been stupendous. Refunds are literally the best I've heard of.

I by personal choice won't shoo for coral online anywhere else.

[reefermadness]

Not a horrible idea IMO....I would never use it but some might.

Are you implementing this yourself March or does a 3rd party take care of the details, collection etc. and thus get the up front processing fee or what ever you called it.

now we can all hoo hoo hold the payments.

[Borderjumper]

Ummm isn't that what credit cards are for?

Originally Posted by Borderjumper

Ummm isn't that what credit cards are for?

Credit cards have interest lol!

[rickcasa]

March, I know you personally so I know you're here for the long haul, but maybe you should at least allow a customer to establish a bit of a history with your business before allowing credit privileges, like say after a couple of purchases. Let's face it, most do have credit cards. I do see one huge advantage for this and that is to encourage large purchases at once to save on what would otherwise be multiple shipping costs over a period of time.

Hey, good luck and good on you for thinking outside the 'fragbox'!!