Last month was National Small Business Month, a time we celebrated the impact small businesses make on the economy and spotlighted what’s fueling their growth. Merchants, dealers, and independent healthcare providers who are growing this year share something in common: they help their customers, clients, and patients select the products and services that are best for them and make it easier for them to move forward with the purchases they want.
By making smarter decisions and deeper platform integrations, small businesses across industries are meeting customers where they are, financially and otherwise. That can result in closing more sales, providing more care, or having more room to grow.
A Changing Toolkit for Small Businesses
Eighty-six percent of small businesses regularly use financing, but the question is whether they use it strategically. Presenting multiple flexible payment options early in the sales or care conversation can make a difference for both the business and the customer or patient.
Businesses that make financing an early part of that conversation see it in their numbers. Ziebart International has tracked 13% year-over-year sales growth tied to financing adoption across its locally owned and operated U.S. locations. They’ve also seen average tickets on Synchrony-financed transactions around $1,300 compared to roughly $600 for those paid for by other means. According to Chief Growth Officer Larisa Lega, “This program is probably the number one tool we have for really offering our franchise owners an opportunity to grow their total revenue. It gives drivers a tool to really do what they want to do with their vehicle.”
More Pathways, Better Outcomes
Credit issuers have several options for helping small businesses extend credit to more customers. They can offer multi-source financing, which enables businesses to enroll with secondary lenders and boosts customers’ credit application approval rates. As a result, more conversations can end with a financing option that the customer feels good about.
Independent software vendor (ISV) integrations are another way to smooth the pathway to credit. They ensure that when a business uses a practice management system, a point-of-sale platform, or a field service tool, financing options appear within the same workflow as part of daily operations. When financing conversations happen inside the systems teams already use, the process is simpler for staff and more seamless for customers.
How It’s Playing Out Across Industries
In the health and wellness industry, affordability remains a concern. Most practices offering CareCredit, Synchrony’s health and wellness credit card, operate as independent small businesses and run their own practices. For these providers, like dentists, optometrists, veterinarians, and more, financing expands access to care.
For patients, flexible financing and the ability to pay over time make care they might otherwise have postponed or skipped accessible. Providers receive payment within two business days, protecting cash flow and allowing them to focus on care. Jennifer Steadman, Director of Operations at Inspired Hygiene, puts it plainly: “We let all patients know we have financing available because cost is a primary reason why patients don’t schedule care, and CareCredit is our go-to financing solution. We want to create long-term patient trust, and we use CareCredit because we know we can trust our patients will be treated well.”
In powersports, buyers are financing for terms as purchasing decisions become more considered. Dealers who build financing early in the sales conversation are converting more of that cautious interest into completed sales and building customer loyalty.
For AJ Meisel, general manager of Plano Kawasaki Suzuki in the Dallas-Fort Worth area, the speed and reliability of that financing process are what make high-volume days possible. “On one Saturday, we had eight hours to sell, and over this period, we moved 19 units,” she says. “If we had a finance partner that couldn’t keep up, there would be no way to sell that many units in an eight-hour day.” The goal, she says, is simple: “When the only thing a customer has to think about is going for a ride, we can really drive loyalty.”
The Bigger Picture for Small Business Owners
One of the biggest challenges small businesses face is consistent growth—reaching customers, converting interest, and protecting cash flow. Businesses that treat flexible financing as a growth tool can reduce friction at the point of purchase and help more customers say yes.
The small businesses seeing momentum today tend to follow the same playbook: introduce financing early, offer multiple paths to pay, embed financing into existing platforms, and use data to guide decisions. Done well, these steps can help businesses close more sales, serve more customers, and grow with confidence.
Curtis Howse is EVP and CEO of Home & Auto at Synchrony, a leading consumer financing company at the heart of American commerce and opportunity. Learn more about CareCredit for health and wellness providers.
Photo courtesy Getty Images for Unsplash+
