If you don’t offer it customers are forced to secure financing on their own and hope you can work with their loan. Let’s look at how your customers can benefit from contractor financing.Ĭontractor financing can simplify financing for customers. What are the benefits of contractor financing for your customers?Ĭontractor financing can not only benefit your business but your customers too! By offering contractor financing your company can become a more valuable option.

They may also feel more excited and less stressed about the financial portion of the project.Ĭustomers shopping for expensive products or services may seek out a company that offers contractor financing. Customers may feel more committed at the time of making the appointment and arranging financing. However, contractor financing can help reduce job cancellations. The stress of limited cash flow can cause customers to put off projects and cancel appointments. Overall, this can improve their experience and satisfaction levels. This allows them to get exactly what they want for a monthly payment they can afford. Knowing you can afford the product or service you’re shopping for can put customers at ease. It’s much easier to close someone on “$20 more per month” versus “an additional $2,500 upfront.” Statistics show that about 50% of homeowners finance renovations and repairs over $5,000.Ĭontractor financing can improve your customer experience. Offering contractor financing can help your business increase its average job size and revenues.

You don’t assume any liability if your customer defaults on payments in most cases. It can also discourage customers from shopping around for more affordable options.Įven though your customers get to pay over time, you will be funded upfront for your product or services using contractor financing. Providing customers a way to afford your product or services is the secret to closing more sales.

Let’s look at how your business can benefit from contractor financing. Offering contractor financing can give your business a competitive edge while becoming a more valuable option for customers. What are the benefits of contractor financing for your business? Companies that offer contractor financing essentially act as a bridge that connects customers with financing options. Do you ever dread telling customers their total, fearful they won’t have the cash to pay for it? Using contractor financing allows you to get paid upfront while allowing your customer to pay over time.

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