VOLUME 2—ISSUE 6 JUNE 2022 The month of June kicks off loan growth season! Being ahead of your loan budget assures your store will achieve its’ monthly net income. We want to continue that momentum and seize all opportunities during this loan growth season by executing our loan qualification training throughout our stores. Every person that walks through your door has the potential to help you grow your business dramatically and increase the volume of new loans. Your existing customers can also help you grow your loans if you take the time to reach out to them. Have a conversation with your store team as well as current customers to find out what their current needs are. These days customer budgets are stretched to the limit and we want to assist those people who may need a little help paying their rent or mortgage, buying groceries and gas, paying their utility bills and maintaining their daily life.
If a customer comes in and needs $500, be sure to go through the four NEHA steps to properly qualify the loan to meet that need. If the customer doesn’t have sufficient merchandise to get them to the $500 they need, help them meet their need with additional collateral. The team that meets the customer’s needs the best WINS!
N = Determine your customer’s NEEDS - ask how much they need and what they need the money for.
E = Determine the customer’s EMOTIONAL attachment to the item - did the customer buy the item at a garage sale? Or, was it a gift from someone special?
H = Determine the customer’s HISTORY - take time to read the history in your computer system correctly. Do they typically pick up their loans? Are all loans current? Six active loans in 2 weeks and no payment are signs they may not be able to pay back the loans.
A = Determine customer’s ABILITY and WILLINGNESS to repay the loan. Does the customer want to pay-off the loan and do they have a job or other means to pay off the loan? Let’s kick off our loan growth season by flawlessly executing our loan qualification system and get ahead of our budgeted loan balances for the year while also meeting our customer’s needs! Be the best in the world at whatever you do for our families, our company and our customers! Go SMG team!!