Broad River Retail Partners with Koalafi to Make Non-Prime Financing More Accessible to Its Guests

News provided by

Apr 25, 2023, 11:30 ET

RICHMOND, Va., April 25, 2023 /PRNewswire/ -- Koalafi, a provider of comprehensive non-prime consumer financing plans, today announced a partnership with Broad River Retail, one of the largest and fastest-growing independently owned Ashley licensees, with stores located in the Carolinas and Georgia.

Koalafi's loan and lease plans will enable more of Ashley's guests to purchase furniture, mattresses, and other items for their homes. Koalafi always shows applicants the total financing costs upfront, in clear terms. Koalafi also reports payment activity to TransUnion, giving customers an opportunity to improve their credit with on-time payments. Broad River Retail currently offers Koalafi lease-to-own plans to its guests. Soon, as part of a phase-two launch, Broad River Retail will also offer Koalafi's installment loans to more seamlessly match guests to the right plan for their financial circumstances.

"Koalafi is inspired by Broad River Retail's purpose to furnish life's best memories," said Boomer Muth, CEO of Koalafi. "For over 40% of consumers, purchasing larger-ticket items can be challenging without financing. It is a privilege to partner with such a guest-centric company as Broad River Retail to make necessary home purchases more accessible."

"It's important that our partners show the same commitment to our purpose and level of care for our team and guests," said Stacey McCormick, SVP of Retail Performance at Broad River Retail. "Broad River is impressed by the team at Koalafi. We have gained more trust with them as a partner because they share our values. Koalafi will play a critical role in helping us achieve our ambitious growth goals. We are committed to a long-term partnership."

Broad River Retail joins twenty-five other Ashley licensee groups offering Koalafi's clear and easy-to-use financing plans.

About Koalafi

Koalafi (www.koalafi.com) offers a wide range of loan and lease plans that make it possible for non-prime consumers to make life-changing purchases. With Koalafi, in-store and e-commerce merchants nationwide can be confident they have a payment plan to offer every customer who wants to shop with them. Koalafi believes financing is more than just a payment tool and provides customers with credit improvement opportunities. Top retailers recognize Koalafi for their commitment to the success of both the retailer and their customers, reflected in Koalafi's 70 net promoter score.

About Broad River

Broad River Retail (www.broadriverretail.com) is headquartered in Fort Mill, SC, and employs over 800 Memory Makers. Broad River Retail operates 30 Ashley Stores and Ashley Outlets throughout the Carolinas and Georgia. Broad River Retail was ranked #45 in Furniture Today's 2022 Top 100 U.S. Furniture Stores and recognized among Furniture Today's Best Places to Work in 2021 and 2022.

SOURCE Koalafi