Industrial Credit is a division of FMSI providing financial services to industrial wholesalers and distributors, and their customers.

Industrial Credit wholesalers are able to use any of the traditional FMSI products such as the Pro-Power Revolving Business Account and Term Loans as well as the specifically designed Pro-Power Student Tool Program. Please see individual program details for additional information regarding Pro-Power and Term Loans.



Benefits of the Pro-Power Student Tool Program:

• Increases technical school tool sales.
• Improve your effectiveness in competing against rival tool distributors.
• Encourages student technicians to return as professional technicians for their future exclusive tool needs.

The Pro-Power Student Tool Program is a business credit program designed to finance student tool purchases through FMSI d/b/a Industrial Credit Members and meet the needs of full-time students that are enrolled in an approved school program and who are fulfilling curriculum requirements. Industrial Credit Members can use the Pro-Power Student Tool Program as a private-label financing program to increase sales and cash flow.

How the Pro-Power Student Tool Program Works:

• Members are provided with applications, program rules, and payment amortization schedules to accurately quote monthly payments to student applicants.
• Applicants/guarantors complete the Pro-Power Student Tool Program application and the Member receives the credit decision typically within 24 hours.
• The student tool purchase is made through the Member and is communicated to FMSI through on-line access.
• The Member receives funding on the sales transaction typically within 24 hours, net of the transaction fee.
• This closed-end financing is amortized over 24-months with no pre-payment penalty. The approved applicant receives a monthly statement requiring a minimum payment.
• Finance charges for purchases will begin to accrue from the date the transaction is added to the daily balance at an annual percentage rate of 21%.
• A late charge of $35.00 is assessed for each billing period in which the minimum payment is not received by the due date. A service charge of $25 is assessed if a check is returned for any reason.

See the Pro-Power Student Tool Program Guide for complete program details, terms and conditions.