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Furniture on Credit

3 THINGS TO LOOK FOR WHEN BUYING FURNITURE ON CREDIT

The economy is recovering, jobs are coming back, and banks are finally lending again. The housing market is red hot too and that’s got consumers spending again. Here are three important things to pay attention to if you’re interested in electronics financing or a furniture on credit option.

ONLINE APPROVALS

Most lenders these days are doing business online. The days of mailing in a paper application are long gone. One of the biggest advantages of a web-based platform is that customers can be approved in seconds. The experience of an electronic platform is much more user friendly.

FAIR PRICING

Not every customer is going to pay the same cost for financing. Lenders evaluate customers based on how risky they are. Customers who have low credit scores or a large number of charge-offs and bankruptcies on their record will likely pay more to finance their purchases. Most traditional banks won’t even lend to customers who aren’t “prime” quality or don’t have enough information in their credit history to have a credit score. Some lenders advertise a no-credit check option, but the ones that do run credit usually offer customers better rates. When it comes to consumer financing, when in doubt – always choose the option with the lowest cost of financing.

BUYOUT OPTIONS

Whether you’re using a retailer credit card or furniture on credit, always make sure that there’s a way out. Ask the retailer if you can pay off at any time and that there’s no penalties for doing so. It sounds crazy, but not every lender will let you do this. Sometimes they’ll lock borrowers in for a certain number of months or they offer 90 days same as cash.

There are lots of reasons why customers choose to finance their new furniture. Not every customer has the money in the bank right away to pay for an expensive new dining or bedroom set. And some customers simply enjoy the flexibility of using financing as a bridge to a future paycheck, refund, or bonus. Furniture is a $103 billion industry and it’s growing alongside the housing industry.

If you’re interested in our lending program, click to apply now:

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info@BristleconeLending.com
1-844-761-4949


Bristlecone Holdings

10 THINGS TO CONSIDER WHEN LAUNCHING YOUR APP

(Originally posted at TECHLI)

 

 

1. Cdave-nevogtonsider How Much Time You Have
Building a native app is always recommended because performance is better, you have much more control over the development process and you can really focus on perfecting one OS before moving on to the next. However, the drawback is that it’s time consuming. If you’re really in a rush to get your app to market, that’s the only situation where I’d recommend using a third party platform.  – Dave NevogtHubstaff.com

 

2. VMaxwell Finnalidate the Concept With an MVP

Using a third party is a great way to release an MVP quickly and validate your concept. However, if your company has the resources (both time and capital) and has already proven the concept, then the best choice is to build your own native app, preferable for both iOS and Android. The native approach means your app will be able to take full advantage of your end users’ hardware and device OS’.  – Maxwell FinnLoot!

 

3. CoDusty Wunderlichnsider the Needs of the App

It depends on how the app will need to change over time. If the app is intended to be single-use, simple and non-evolving, having the app on a third party platform is a quick and cost-effective option. If the app is extremely custom, complicated and/or will need to evolve with customer or industry needs, building the app in-house with an industry standard application stack is recommended.  – Dusty WunderlichBristlecone Holdings

 

4. Randy RayessBuild Your Own

Most of the time people try to use crossplatform tools to launch an app because it’s cheaper. But if you’re launchinga new app as a startup, there are a sufficient number of users on each platform. Its best to go native and focus on one device, either iOS or Android. This way you can build a great user experience, focus on one device and gather valuable feedback.  – Randy RayessVenturePact

 

5. Manpreet SinghGo Native for Privacy
Third party platforms are great. Why reinvent the wheel when you can deliver a cookie cutter app with custom sprinkles for branding purposes? But, when privacy is a key part of your brand, developing an app on a TPP that lets developers see all app activities sort of defeats the purpose. That’s why we went native. We didn’t want to have to warn users as SnapChat warns TPP users.  –Manpreet SinghTalkLocal

 

6.Pratham Mittal Consider Whether the App Is Your Differentiating Factor

If you’re building an eCommerce store, your app is not the differentiating factor. It’s your branding and merchandising that matters. In such cases, go with a third party provider. If you are predominantly a software company building unique software, you may not have a choice but to build your own. That said, you should leverage open source libraries wherever possible.  – Pratham MittalVenturePact

 

 john rampton7. Just Make Sure You Maintain Control

It shouldn’t matter where or how you build as long as you maintain 100 percent control of your app and have the ability to do with it as you want. Control means everything.  – John RamptonJohnRampton.com

 

 

Miles Jennings

8. Consider Your Financial Resources

Building an app from scratch can take a lot of time, man power and money. If a company has solidified themselves in their market, has successful sales and revenue and know that their brand is doing well, investing in building an app on their own will be worth it and will allow differentiation from competition. If the company does not have a solid footing yet, platforms should be considered.  – Miles JenningsRecruiter.com

 

9.Tomer Bar-Zeev Focus on What You Do Best

With thousands of apps added to the app store every month, a major barrier to success for developers is getting discovered by their target users. The right third-party platforms allow developers to focus on what they do best — developing great products. Look for a third-party platform that takes care of all your business needs including discovery, delivery, distribution and monetization.  – Tomer Bar-ZeevIronSource

 

1Kofi Kankam0. Consider Where You Ad Value

If the value that the company can add is related to the platform itself, then they should lean towards launchingtheir own. However, if the value-add is centrally focused on another item such as subject-matter expertise, then it may be smarter to leverage this insight on somebody else’s platform.  – Kofi KankamAdmit.me


Bristlecone Lending

BRISTLECONE LENDING VENTURES INTO CONSUMER FURNITURE MARKET

(Originally published at Furniture World)

Bristlecone Lending, a Bristlecone Holdings company, reported that it has entered the furniture market this quarter with a no-fee, easy-to-access system. The system promises to expand the lending options that home goods retailers can provide to customers.

“We think a quicker application process will retain more customers and lead to overall higher sales for our retail partners,” said Dusty Wunderlich, Bristlecone Holdings CEO. “This technology is so simple, and it’s just not offered in this space yet. We’re excited to leverage our leading technology to propel the furniture lending market forward.”

By using tablet-based kiosks inside the stores and a less-than five-minute approval process for consumers, Bristlecone’s flexible leasing structure aims to increase access for customers. Thanks to Bristlecone’s innovative underwriting and funding model, customers who cannot access traditional financing get a second chance or an opportunity to rebuild their credit.

A customized website builder provides select retail partners with the option to jump into the online space, increase their web presence and convert web traffic into in-store sales. Under the Bristlecone system, retailers see the payout from sales quicker than through traditional models, with funding in just one-to-three days.

“We see the retailers who use our platform as partners,” said Wunderlich. “If we can help improve their bottom line while giving customers previously-unavailable options, everybody goes home happy.”

New to the furniture market, stores in all fifty states have been quickly adopting Bristlecone’s lending tool.

About Bristlecone Holdings: Bristlecone Holdings is a special-purpose entity which acquires, develops and manages innovative financial services, e-commerce business models and intellectual property. Our goal is to deliver effective financial services and modern solutions to the marketplace. Bristlecone Holdings launched Bristlecone Lending, WAGS Lending, I Do Lending and Double Bar Lending in 2014. These four are the first of many carefully designed companies in multiple industries. We outline an aggressive pipeline to enter new industries in coming quarters. Visit www.bristleconeholdings.com for more information.


Young Entrepreneur Council

YOUNG ENTREPRENEUR COUNCIL WELCOMES RENO ENTREPRENEUR DUSTY WUNDERLICH

RENO, Nev. — Dusty Wunderlich, CEO and founder of Reno-based lending company Bristlecone Holdings, was inducted into the Young Entrepreneur Council (YEC), an invite-only organization comprised of the world’s most successful entrepreneurs who are 40-years-old and younger.

“I’m honored to gain membership in such a well-respected organization full of individuals who are pushing the limits of business and innovation,” Wunderlich said. “What I’m looking forward to most is interacting with other YEC members to help improve my skills as a CEO. We have our sights set high with Bristlecone Holdings, aiming to be the most desirable company to work for. I have no doubt this group will help guide me through the obstacles of growing a new company in unfamiliar territory.”

Bristlecone Holdings will end its first full year as one of the fastest-growing startups in the nation with revenues around the $20 million mark. Its innovative lending offerings are based on a lease-to-own model with no fees to consumers and more flexibility for applicants, revolutionizing the consumer lending market on a national scale. The company now lends in the pet, furniture, wedding and cattle markets, and is looking to expand to other consumer and business markets in the near future.

“I am surrounded by a team of highly-skilled and innovative intrapreneurs which helps push new ideas into an industry that has remained stagnant in the areas of technology and innovation for years,” Wunderlich said.

In addition to Bristlecone Holdings, Wunderlich founded the Growing Worldwide Opportunity Foundation, a public charity that focuses on international and domestic grassroots humanitarian projects. He also serves on a handful of boards in the community including the Nevada Discovery Museum and Reno Tahoe Open Foundation.

About Bristlecone Holdings:

Pioneering new lending models molded to individual industries, Bristlecone Holdings is a special-purpose entity which acquires, develops and manages innovative financial services, e-commerce business models and intellectual property. Our goal is to deliver effective financial services and modern solutions to the marketplace. Bristlecone Holdings launched Bristlecone Lending, WAGS Lending, I Do Lending and Double Bar Lending in 2014. These four are the first of many carefully designed companies in multiple industries. We outline an aggressive pipeline to enter new industries in coming quarters. Visit www.bristleconeholdings.com for more information.


Bristlecone Lending

GIVE MILLENNIALS SOME CREDIT

(Excerpted from HomeAccentsToday)

A recent consumer study found that when it comes to furniture and appliances, Millennials prefer to shop at retailers that offer financing options. It also found that they know more about their financing options than their parents and grandparents.

Specifically, the study of more than 2,000 consumers found that 59% of shoppers between 18 and 34 say their choice of retailer is affected by whether that retailer offers financing options, and 32% of that consumer group are aware of second-look financing options (for consumers who are denied financing by a retailer’s primary provider), compared with just 13% of those 55 and older.

The study was commissioned by NewComLink, a financial technology company that combines multiple financing options into a single offering, and provides a multichannel platform that integrates the customer credit application, purchase and settlement process.

Millennials’ annual spending power is estimated at $200 billion, and they’re expected to collectively spend $10 trillion over their lifetimes. They’re also probably going to need alternative credit options for a while. According to Experian, the average consumer between the ages of 19 and 29 has a credit score of just 628 and holds $23,332 in debt. By comparison, Baby Boomers have an average credit score of 700 and consumers age 66 and older have an average score of 735.

Dusty Wunderlich

“Up to 50% of primary credit applications are routinely declined, which can lead to lost sales for many retailers,” said Suneet Paul, NewComLink’s co-founder and CEO. “Secondary financing options can help consumers, especially Gen Y consumers, buy what they want, when they need it. As a result, retailers who offer financing choices see increases in customer loyalty as well as revenue.”

Bristlecone Lending, a consumer financing company that services home furnishings retailers, recently announced it had developed a no fee, easy-to-access system that uses tablet-based kiosks inside the stores. Bristlecone says it offers “a flexible leasing structure and less than five-minute approval process for consumers, giving those who cannot access traditional financing a second chance.”

A customized website builder provides select retail partners with the option to jump into the online space, increase their web presence and convert web traffic into in-store sales. Under the Bristlecone system, retailers see the payout from sales quicker than through traditional models, with funding in just one to three days.

“We think a quicker application process will retain more customers and lead to overall higher sales for our retail partners,” said Dusty Wunderlich, Bristlecone Holdings CEO. “This technology is so simple, and it’s just not offered in this space yet. We’re excited to leverage our leading technology to propel the furniture lending market forward.

“We see the retailers who use our platform as partners,” Wunderlich continued. “If we can help improve their bottom line while giving customers previously-unavailable options, everybody goes home happy.”