One of the most well-known jewelry retailers recently made headlines after announcing that it would be providing alternative financing options to customers in the United States.
Zale Corporation said in a statement that it had come to an agreement with Monterey Financial Services to provide the service starting immediately at all Zales, Zales Outlet and Gordon's stores nationwide. The alternative financing is meant for customers who have not met the criteria for Citi, the company's primary lending partner. The leadership of Zale said that the new financing option would allow more people than ever to gain access to its products. "We are pleased to be able to expand our financing options so that even more guests can affordably purchase beautiful jewelry," said Ken Brumfield, vice president of financial products for Zale Corporation. "These offerings demonstrate our continuing effort to build long-term loyalty and sales for Zale." There are other alternative financing options available to consumers struggling to find a lender. BusinessWeek reports that consumers can tap into part of their 401(k) retirement accounts for as much as $50,000 or half of their value.