MidwayPlus, technology platform for racing and aftermarket industries, announced the launch of a new on-portal trade credit feature, Shop Lender, that benefits both resellers and manufacturers.
MidwayPlus manufacturing clients can now offer their business-to-business customers a more efficient and cheaper way to pay for all products purchased on the MidwayPlus platform, the company says. Manufacturers have the flexibility to assist their customers with more payment resources and promote customer loyalty with none of the concern of managing the loan or credit of the buyer.
MidwayPlus says the Shop Lender program allows qualified resellers to apply for payment terms within minutes and make purchases with 30-day terms, with no interest, fees, or charges.
“With our new Shop Lender acquisition, we’re able to provide shops with access to fast, flexible financing so they can manage cash flows and invest in growth. Manufacturers can use the program to extend a line of credit to qualified customers without any loan liability. It’s yet another resource we offer to all B2B aftermarket businesses on the MidwayPlus platform to modernize their sales channels,” said Brian Lounsberry CEO of MidwayPlus.
