MidwayPlus has launched a new on-portal trade credit feature for both resellers and manufacturers, the company announced.
MidwayPlus manufacturing clients can now offer business-to-business customers a new way to pay for all products purchased on the MidwayPlus platform, the company said. 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,” said Brian Lounsberry, CEO of MidwayPlus. “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.”