NHFA Introduces New Finance Programs

Furniture World News

National Home Furnishings Association has introduced three new programs selected specifically by the Board of Directors to help retailers support profits in today’s uncertain economy. At the same time, a long-established program has been enhanced to encourage additional sales by making is easier for consumers to purchase home furnishings. New profit-support initiatives include a Lease/Purchase Alternative Finance Program offered by 4Sales Finance which provides retailers with a hybrid lease/purchase option for credit-challenged customers that are declined by the store’s primary credit source. Customers can qualify for the program if they have been employed for the last six months and have a gross monthly income of at least $1,000. A Furniture Protection Plan by 4Warranty provides extended service plan programs for furniture, upholstery, appliances and electronics, and includes an after-market opportunity to capture income missed at the point of sale. L. B. Atlantic, which specializes in recovering workers’ compensation premium overcharges, is providing a Workers Compensation Audit Program in partnership with NHFA. If there is no recovery, no fee applies. A retailer’s annual premium must be more than $50,000 to qualify for an audit. In addition, Citi Retail Services, has lowered its rates for retailers participating in its private label credit card program through NHFA. The basic rate for six- and twelve-month plans has been lowered 50 basis points. This program enhancement is designed to help retailers improve their bottom line by offering attractive credit options to consumers. For information, please contact NHFA at 800-888-9590.