Is Offering Financing Worth It For A Contractor?

Is Offering Financing Worth It For A Contractor?

Things are going perfectly. You’ve connected with a new client and heard their big dreams for their home improvement project. You and your team carefully evaluate the project and present the homeowner with a bid. Slowly you watch that excited look disappear from their faces as reality sinks in… They don’t have enough cash on hand to cover this project. So what’s a contractor to do? You’ve heard about others offering financing, but is offering financing worth it for a contractor? 

Close More Deals

As a contractor, your ultimate goal is to see business increase. But when a client sees the price tag and it’s more than they can afford at the moment, they might choose to scale back on the scope of the project. Or, they may even opt for lower-cost materials. Either way, it can impact your bottom line. 

If you choose to offer financing options, it can easily seal the deal with customers. You’ll be able to close on more deals when you can deliver quality work as well as connect them with financing options. 

Quicker Start for Projects

You know the story. Your latest home improvement project is scheduled to start next week, but the client has called to ask if it can be pushed back another week. The complicated financing they sought out on their own is taking much longer than they originally thought it would. 

When you offer financing as a contractor, it guarantees payment for you. You’ll get your money on time, and it ensures you have the funds necessary to start the project as scheduled. No more waiting weeks or even months for clients to be able to make a payment. By offering financing options, your clients will have the funds they need to make it the home of their dreams, while you have the means to be able to bring that dream to life for them. 

Grow Your Business

Every business owner knows that word of mouth is a great way to drive new business. Your satisfied clients will be singing your praises when they remember how you were prepared to help them through each step of the project, including the initial financing. 

When you choose to offer financing as a contractor, customers are able to afford larger projects thanks to the ease of the process. Not only that, they’ll be thrilled when their project can begin immediately, since they don’t have to wait for other more complicated forms of financing to be approved. 

Not only will your clients tell their friends about you, they’ll keep you in mind for the future. Once your clients have had a fabulous experience with your company, they’re more likely to remember you when they get the urge to tackle another project.

From guaranteed payment to very satisfied customers, it’s obvious that offering financing is worth it for a contractor. As a general contractor, your time should be spent focusing on your customers and your business, not working through the specifics of financing with your clients. Take financing off your plate and connect them with HFS Financial. Your client can fill out our 60-second application to see if they qualify. If so, we’ll fit them with the right loan for their project. Call us today at 1-800-254-9560 to get started. “You Dream It, We Finance It.”

Is Offering Financing Worth It For A Contractor?

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.