The world is changing rapidly. All of us need to constantly up-skill or re-skill to remain relevant. We all know that if we do invest in training, it does improve our chances on the labour market. And organisations are better off as well with well-trained staff. Investing in training thus makes eminent sense to all involved.
Following a future-proofing training programme is thus a long-term investment in yourself. But … nine out of 10 times a course needs to be paid up-front and we at Finance4Learning wonder why that is? We feel that you should be able to match a long-term investment in training with long-term finance. We therefore offer training institutes an opportunity to guide their individual clients towards financing future-proofing training programmes.
Maybe you already provide payment plans to your customers? If so, are you sure this is legal? Financial regulations in relation to lending to consumers are very strict indeed, so you might inadvertently be involved in an illegal activity? And even if your lending practices are legitimate, have you considered the all-in costs of same? Bad debt, debt collection, legal costs, working capital costs, accountancy bills, management time etcetera all add up.
Yet providing finance to customers is a great idea from a sales and marketing point of view. We find that making it as easy as possible for customers to buy products and services is a great differentiator vis-à-vis your competitors. It certainly helps overcoming financial objections.
Training institutes we work with have currently finance between 40% and 60% of their turnover. A lot of work for sure. With Finance4Learning taking over their private customers’ financing needs, working capital improved dramatically and the client was once again able to fully focus on marketing, sales and delivery of training. Whether you already provide finance yourself or not, talking to Finance4Learning about your options won’t do any harm.
We have more than 25 years experience in the learning & development space. Consequently, we really understand the requirements of both training institutes and trainees. As having access to and bandwidth to deal finance has been a recurring theme, we scoured the market in search of a solution - and found none. Finance4Learning therefore developed a bespoke solution in conjunction with Santander Consumer Finance Benelux bv. Feel free to contact us about our exclusive relationship with Santander