Conn's open now on South Boulevard

Conn's, a Texas-based retailer offering financing for furniture, appliances and other home goods, has opened its first Charlotte location.

The store, in the Carolina Pavilion shopping center, opened this weekend. Conn's said it employs about 30 people at the new location.

The business model they use is based on consumers financing goods and paying for them monthly. The store sells furniture, mattresses, appliances, consumer electronics and more. Here's how Conn's describes itself:

“We’re excited to bring the Conn’s HomePlus® experience to Charlotte,” said David Trahan, Conn’s President of the Retail Division. “We’re a fresh alternative for people who are looking for high-quality, affordable products. Our unique financing program is flexible and convenient, and people can expect a great customer service experience when they visit our stores.”

Also known as YES MONEY®, Conn’s credit program will be available in North Carolina and offer qualified consumers the chance to purchase higher quality goods at a low monthly payment they can afford, even if they’ve been turned down other places."

Many of Conn's customers are "credit constrained," or unable to get a loan elsewhere. Here's how the company puts it in investor materials. "Our credit offering provides financing solutions to a large, underserved population of credit constrained consumers who typically are unbanked and have credit scores between 550 and 650." More than three quarters of Conn's purchases are financed through their in-house credit program.

With 80 stores open in a half-dozen states, Conn's is expanding, and the company says it's planning a second Charlotte store.