3 Reasons Offering Financing Gives Contractors An Advantage Over the Competition

A customer signs a home improvement construction contract among various contractor tools, demonstrating how financing gives contractors an advantage over the competition.

“Does it give me a competitive advantage to offer financing to my customers?” It’s a great question to ask. In the home improvement contractor game, maintaining an edge over the other contractors in your market is essential. You can convert leads more consistently and soar past your competition by providing funding options to your clients. Consider these 3 reasons offering financing gives contractors an advantage over the competition.

Financing Gives Customers More Options and Contractors an Advantage

When a customer is wondering how to pay for a new pool or other home improvement project, financing is a helpful solution. Many customers depend on financing for big purchases. They may be more inclined to go with the contractor who offers financing so they have more freedom. 

When a client or lead can pay for their home improvement wish list with financing options, they are able to go big with features and products they want. With an increased contractor cash flow from financing, add-ons and accessories are much more attainable. If a client can hire you because of financing, they will choose you over the contractor with limited options.

Offering Financing Prevents Lender Relationships from Sniping Your Sale

Secondly, if you give a client an estimate but they have to find financing elsewhere, you add a barrier between you and the sale. When your leads are left needing to find their own financing, the lender or bank they choose may have pre-existing relationships with other contractors. These relationships often require or otherwise incentivize customers to use their construction funding with the lender’s preferred contractor over you. Your lead might be forced to follow their financing partner to a different contractor. 

However, you can avoid losing leads to a competitor like this by linking directly to financing options from HFS Financial right on your website. Offering general contractor financing to your clients removes the variable of an unreliable third party from your sale. Your customers can find funding to complete their purchase with you, not a competitor. 

Stand Out to Online Shoppers with Financing Options in Your Marketing 

Finally, clients often seek out multiple estimates. Today, much of this comparison shopping is done online. When shoppers compare options online, the differences between buying experiences are more pronounced. A contractor with simple financing options displayed online will easily make it to a shopper’s shortlist before a contractor with no financing options.

Comparisons from online shopping allows customers needing financing options to eliminate a contractor who does not offer financing. And all it takes is the quick closing of a tab. Stop leads from closing the tab on your contractor services. Prominently advertise funding options on your website and in your marketing.

Discover for Yourself How Offering Financing Gives Contractors an Advantage

Certainly, you too can gain an edge on your competition! You can do so by including the best construction funding option in your contractor marketing. HFS Financial’s quick online application makes it easy to convert your leads to loyal repeat home improvement customers. Contact us or call 1-800-254-9560 to hear how offering the best contractor financing for customers from HFS Financial can give you the competitive advantage you need. “You Dream It, We Finance It.”

3 Reasons Offering Financing Gives Contractors An Advantage Over the Competition

HFS Financial solely operates in the home improvement lending space which means we can confidently say that we are THE HOME IMPROVEMENT LOAN EXPERTS. When you apply at HFS Financial you will get a customized loan experience tailored to ensuring you get the best personal loan to meet your home improvement loan needs.