Carmel Financial Corporation is a sales finance company specializing in providing financing to consumers through a national network of merchants.
Our programs are designed to help you close more sales, generate repeat business and attract new customers through referrals from satisfied customers.
Founded in 1967 as a sales distribution company, Carmel Financial Corporation began simply, with a single $8 payment, according to Carmel Financial Corporation Founder and Chairman of the Board, Tom Sheehan. The check, he recalls, was the first monthly payment for one of the sets of encyclopedias he sold door-to-door through his sales distribution company, Universal Distributors.
Working face-to-face with countless families, Sheehan realized that many needed affordable financing. Using his own capital, Sheehan began offering credit for customers of Universal Distributors (which he grew to be one of the largest independent distributors of encyclopedias in the United States). This offering of credit for encyclopedias was the foundation for Carmel Financial Corporation.
However, Sheehan quickly realized there was a need for the same service for other important products. Now, thousands of customers later, Carmel Financial Corporation is a major, nationwide lender for the purchase of everything from in-home water treatment systems to replacement windows to heating and air conditioning units to above-ground pools, flooring and much more.
Carmel Financial Corporation works with participating merchants to assist consumers in obtaining financing for their purchase. The company promises to accept every applicant, in exchange for a risk premium that varies depending on the credit quality of the consumer.
Sheehan introduced pioneering computer software to Carmel Financial Corporation’s operations in the early 1980s. While computers continue to play a vital role in evaluating customers, all applicants are reviewed on an individual basis. The practice reflects Sheehan’s philosophy that customers should be treated as well as he and his employees expect to be treated.
Carmel Financial Corporation also mirrors the values of its company president, Tracey Sheehan, Tom Sheehan’s daughter. A former Division I women’s basketball coach, Tracey Sheehan emphasizes a strong team approach to the company’s operations.
Carmel Financial Corporation is an active member of its central Indiana community. Since 1992, the company’s employees have conducted special events to raise money and other donations for local food banks. In fact, Carmel Financial Corporation's employees now help to donate more than 85,000 non-perishable items each year to local food banks through their partnership with the Good Samaritan Network. If you are interested in helping, contact Sharon VanHoozer, Sr. Vice President at firstname.lastname@example.org.
• Working with merchants, Carmel Financial Corporation helps businesses complete all sales transactions. Purchase of the sales contract, however, may be offered at less than the full sale price to cover the risk of extending credit to a customer with a higher probability for default. This is known as the "risk premium".
• A nationwide lender, Carmel Financial Corporation ranks among the dominant lenders for the in-home water treatment industry.
• The company also offers financing for the purchase of a wide variety of products for the exterior home improvement industry, as well as for the purchase of items such as above-ground swimming pools, spas, tanning beds, heating and air conditioning units, flooring and much more.
• The privately owned company relies on complex, proprietary computer analyses to assess risks of financing customers; however, each applicant is reviewed on an individual basis.
• Carmel Financial Corporation has extended financing to thousands of customers throughout the United States.
• Carmel Financial charges competitive interest rates and does not increase the rate if a customer goes into default.
• Founded as Universal Distributors, a sales distribution company, Carmel Financial Corporation was later incorporated to offer financing to customers who wanted to purchase the company’s encyclopedias.
• Located just northeast of Indianapolis, IN, Carmel Financial Corporation employs approximately 60 people.