Snap Finance
Snap Finance, launched in 2012, offers lease-to-own financing options with flexible payment plans and early buyout options, serving over 5 million customers and facilitating $8 billion in partner sales.
Company History
Snap Finance was launched in 2012. Since then, the company has focused on providing lease-to-own financing options. With a mission to unlock financial flexibility for a better life, Snap Finance has grown significantly over the years, facilitating over $8 billion in partner sales and serving more than 5 million customers.
Services
Snap Finance offers lease-to-own financing options and retail installment contracts branded as Snap Loan®. These services include flexible payment plans, approvals ranging from $300 to $5,000, and early buyout options to reduce overall cost. Customers can benefit from payment plans that fit their paydays and lifestyle, with transactions not impacting FICO® scores. Snap Finance also offers a mobile app for managing transactions and payments.
Products
Snap Finance provides lease-to-own payment options for items such as furniture, mattresses, tires and wheels, appliances, and electronics. Payment options include a 100-Day Option, an early purchase option, and a 12-18 month maximum-term plan. Additionally, the company offers retail installment contracts with similar flexible terms.
Corporate Social Responsibility
Snap Finance's Snap Cares initiative underscores the company's commitment to corporate social responsibility. This program includes employee volunteerism, financial contributions, and collaborations with nonprofit organizations. Snap Cares has contributed over $1 million in charitable giving since 2021, with 60% of team members participating in volunteer activities, amassing over 2,460 hours in 2023.
Customer Portal
Snap Finance offers a customer portal where users can view transactions and manage payments. This portal is designed to provide customers with easy access to their financial data and to simplify the process of handling their payments. The portal complements the company's mobile app, enhancing the overall user experience.