March 20, 2013

American Eagle Financial Services: Providing Non-Traditional Payment Methods For Critical Purchases

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American Eagle Financial Services

Lloyd Lofton is the COO of American Eagle Financial Services, LLC. Lloyd’s company specializes in insurance and financial products that provide quality protection with value pricing. They have a unique payment model that allows consumers to finance critical purchases without taking on traditional credit card debt.

What motivated you to start your own company?

We have been in the insurance industry for years, and as the market has changed we needed non-insurance related products. We found many consumers and small business owners had been affected by the economy and thus their credit had been negatively affected.

What’s special about your business?

We help consumers make a needed purchase of a product or service even though their credit may not be the best. As long as they have an income and a checking account, they could qualify to write one check for 25% of their purchase and have the balance debited from their checking account over a 3, 6, or 12 month period of time. This makes the purchase more affordable and helps them stay debt-free because unlike credit cards (which are typically not paid off in the same month) they are debt-free in terms of that purchase after their payments have been made in full.

Merchants get to add a “no credit required” finance program for customers who don’t have the money or credit necessary to have the auto repair, dental work or other needed product or service. We fund the merchant in 3 business days for the sale while their customers get to pay over the 3, 6, or 12 month period of time. It helps merchants pick up “lost sales” and become more profitable.

How will you use Bravo Video?

Merchants will record how the program helped them pick up “lost sales” and manage revenue through these hard times. Merchant’s customers will record how the ability to write one check for 25% and pay over a 3, 6, or 12 months of time helped them make a needed purchase at a time when otherwise they would not have been able to – which often times can result in a hardship.

Congratulations Lloyd! We applaud your efforts and welcome you to our growing roster of Bravo Startup Sweepstakes winners!

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