A Closer Look at a Same-As-Cash Loan
Posted December 6, 2022 by EnerBank USA
Here at Regions | EnerBank USA, we offer a variety of loan options designed specifically for home renovation projects. That means no matter the size, scale, or scope of the project, there is likely a loan to fit both the needs of your business and the individual financial situation of your customers. In this post, we’re going to take a closer look at one of our more popular loan products: our Same-As-Cash Loan.
What is a Same-As-Cash Loan?
Our Same-As-Cash Loan is a short-term lending solution with no monthly payment required. If paid off within the “same-as-cash” period, no interest is owed.
Why a Same-As-Cash Loan?
Customers enjoy the flexibility that this type of loan provides. It’s an ideal option for customers who prefer not to use their own money today. This includes those who may even have the cash on hand.
What Are the Benefits of a Same-As-Cash Loan?
Even customers who were planning on paying for their project in cash can benefit from this type of loan. This is because it allows them to hold onto their cash for a longer period. It’s also a great option for customers who are waiting for a source of cash to come in, such as a bonus at work, an investment, or a tax refund, but want to get their project done now.
What Projects Are Best for Same-As-Cash?
Same-As-Cash is one of our most popular loan options, and works for a variety of projects. In fact, we recommend offering all your customers a choice between a Same-As-Cash Loan and a low monthly payment option. This will help you take advantage of the full benefits that payment options have to offer.
Why Offer Same-As-Cash?
Offering your customers a choice of payment options* can help improve cash flow, increase leads, boost close rate, grow average project size, eliminate discounting, and reduce cancellations. Plus, homeowners will enjoy the ease and convenience that payment options provide, leading to a better customer experience.
If you want to start offering your customers a choice of appealing payment options, including Same-As-Cash, fill out the form on this page. A member of our team will contact you as soon as they can.
*The Brickyard Study conducted by EnerBank USA, 2018