Genesis Credit, a second-look private label credit business based in the United States, reached a major milestone, achieving $2 billion in total originations since the launch of the business in 2011.

Genesis Credit is now the dominant leader of second-look financing, supporting more than 400 retailers and 2.5 million customers in over 16,000 locations with flexible, simple, and omnichannel financing solutions.

Reaching this latest milestone further validates the company’s mission of providing high-quality, well-serviced products for the second-look financing industry.

“Achieving our second billion in originations in only 28 months is a significant achievement that is a testament to our easy process, flexible technology, and commitment to serving the non-prime consumer market,” said Mark Denman, Genesis president.

With up to half of purchasing consumers in the United States unable to qualify for prime credit, Genesis recognized the need to provide second-look customers fair financing options with a premier credit experience. Since 2011, the company has led innovation in technology, platforms, and customer service to meet this need.

“At Genesis, we evaluate consumers on more than a credit score, by using a customized scoring model that leverages multiple customer attributes, not just the traditional credit score. This allows us to provide retailers access to more customers, higher approval rates and credit lines, and increase their incremental sales,” said Denman.

On average, partners experience up to a 65% increase in ticket size per purchase after implementing a Genesis Credit financing program.

“Our process ensures that every single customer receives a prime credit experience, from the initial application through the sale close, and then back again for their next purchase,” said Denman.

According to Forrester Research, when customers are approved for private-label financing, on average, 85% reuse credit at the same location.