Irvine, CA, Nov 13, 2024 — The National Bicycle Dealers Association (NBDA) is excited to announce the launch of an NBDA-endorsed Consumer Financing Program, designed to offer members in the United States and Canada access to flexible, low-cost financing solutions for their customers. With rates negotiated by the NBDA to reduce retailer costs, this new member benefit provides a valuable tool to help bicycle retailers increase sales, boost average transaction values, and improve close rates.
For U.S. Retailers: Financing Powered by PayPossible, Citi and Uown Leasing
Through a partnership with PayPossible, Citi and Uown Leasing, U.S. retailers can now easily integrate consumer financing into their point-of-sale systems, offering customers flexible 3, 6, and 12-month no-interest plans. With financing fees starting at just 2.5%, this program offers a cost-effective option that makes financing accessible and attractive to both retailers and customers. Participating retailers will receive point-of-purchase materials to help promote these offers in-store.
Larry Crawford, founder of PayPossible, commented: “We are excited to partner with the NBDA to bring point-of-sale financing solutions directly to its members. PayPossible’s multi-lender platform is designed to help NBDA members expand their business by offering flexible, accessible financing options that meet the needs of all their customers. By providing a seamless way for customers to finance their purchases, we’re not only helping bike retailers drive sales but also enhancing customer satisfaction and loyalty. This partnership is about empowering NBDA members with tools that support growth, resilience, and the long-term success of their businesses.”
Matt Welton, VP of Sales and Partnerships at Uown Leasing, added, “At Uown Leasing, we’re thrilled to partner with PayPossible and the NBDA to make cycling more accessible, enabling consumers to affordably purchase the bike of their dreams and invest in their health and fitness. In today’s challenging economic environment, flexible financing options are essential for empowering consumers with choices that meet their unique financial needs.”
For Canadian Retailers: Financing Powered by Fairstone
The NBDA has teamed up with Fairstone to provide a specialized financing solution for Canadian retailers. Fairstone, a highly regulated lender, ensures responsible lending practices and minimizes the impact of prime rate increases. With financing fees as low as 3.24% and simple integration with point-of-sale systems, Fairstone offers Canadian retailers flexible payment options, including 3, 6, and 12-month no-interest plans, that help attract new customers and increase sales.
Heather Mason, President of the NBDA, shared her enthusiasm for the expanded member benefits: “The NBDA is committed to building a robust portfolio of membership benefits. Offering consumer financing options was a direct response to requests from our members across North America. We are thrilled to provide competitive solutions that truly support our members, and we will continue to refine and add benefits that drive net profits and future successes for bicycle retailers.”
NBDA Membership: A Gateway to Resources and Savings
With an NBDA membership at just $25 USD a month or $250 USD annually, retailers gain access to a robust suite of benefits, including:
- Education: Webinars, Podcasts, Whitepapers, and direct emails to keep retailers informed and prepared to navigate the changing retail landscape.
- Business Templates and Resources: Streamlined operations and improved profitability through industry-focused resources.
- Peer and Industry Forums: Networking and shared insights on best practices.
- Supplier Savings: Discounts on essential services, software, and business technology, plus extra margins, freight discounts, and brand perks.
- Advocacy: Join a community that is focused on bringing to light the importance of the Specialty Bicycle Retailer and advocating for best industry practices to support needs.
Explore Member Savings with NBDA Supplier Partners
The NBDA’s Supplier Association Member Partners offer members access to exclusive discounts on website services, software, and essential small business technology. Select brands and suppliers offer extra margins, freight incentives, and other perks to NBDA Members. These benefits reflect a true partnership between the NBDA and its members, aiming to empower bicycle retailers to build profitable, sustainable businesses.
For more information about the NBDA Consumer Financing Program and how to become a member, please visit the NBDA website.
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About the National Bicycle Dealers Association (NBDA)
The National Bicycle Dealers Association (NBDA) has been here since 1946, a nonprofit organization representing and empowering specialty bicycle dealers in North America through education, communications, research, advocacy, member discount programs, and promotional opportunities. Learn more about the benefits of being a member and join now.
