1847 Goedeker Expands Partnership with American First Finance to Offer New Lease-to-Own Financing Option for Appliance and Furniture Customers

·3-min read

1847 Goedeker Inc. (NYSE American: GOED) ("Goedeker’s" or the "Company"), a one-stop e-commerce destination for appliances, furniture, home goods, and related products, expands its partnership with American First Finance Inc. ("AFF"), an innovative third-party financing company offering a flexible and affordable lease-to-own payment option. Because this is a third-party financing platform, Goedeker’s will assume no credit risk or have any balance sheet impact.

"Offering a variety of payment options improves our customers’ purchasing power, ultimately leading to increased conversions and sales," said Doug Moore, CEO of Goedeker’s. "Our latest lease-to-own option through our financing partner AFF will afford Goedeker’s customers flexibility and freedom in their purchase decisions without requiring a long-term commitment."

The Company’s new lease-to-own financing solution is an extension of its third-party financing solutions through AFF and will provide fast decisions and affordable payments, enabling Goedeker’s appliance and furniture customers to get approved for up to $5,000 and pay less when the full balance is paid off within the first 101 days.

"We saw an opportunity to enhance our existing partnership with Goedeker’s to bring them a solution for their ecommerce platform that will benefit consumers tremendously. Customers will get better payment options that fit their budget. This is just one of the many ways we plan to strengthen our partnership with Goedeker’s," said Lance Taylor, Senior Director eCommerce Sales of AFF.

About 1847 Goedeker Inc.

The Company is an industry leading e-commerce destination for appliances, furniture, and home goods. Since its founding in 1951, the Company has transformed from a local brick and mortar operation serving the St. Louis metro area to a respected nationwide omnichannel retailer that offers one-stop shopping for national and global brands. While the Company maintains its St. Louis showroom, over 90% of sales are placed through its website (www.goedekers.com). The Company provides visitors an easy to navigate the shopping experience and offers more than 185,000 items organized by category and product features. Specialization in the home category has enabled the Company to build a shopping experience and an advanced logistics infrastructure that is tailored to the unique characteristics of the market. Learn more at www.goedekers.com.

Forward Looking Statements

This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in the final prospectus related to the public offering filed with the Securities and Exchange Commission and other reports filed with the Securities and Exchange Commission thereafter. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

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