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How to Offer Contractor Financing for Customers

Posted August 15, 2023 by EnerBank USA

How to Offer Contractor Financing for Customers

You may have heard about contractor financing for customers, but how do you start offering it to homeowners? How do you find the right provider? What’s the best way to get my team involved? How can I add financing to my existing sales strategy? In this post, we’ll walk through the steps of finding the right financing provider as well how you can ensure your program is as effective as possible.

Find the Right Provider

There are SO many options available when it comes to contractor financing. First, you need to identify what’s most important in a financing partner. Identify the lenders who provide the tools you need and can help you reach your goals and objectives.

Additionally, you may also want to find a lender that is:

  • Experienced in home improvement financing – With home improvement always changing, having a lender who can keep up is important.
  • Knowledgeable about your industry – The better a lender understands your industry, the better equipped they’ll be to help when issues arise.
  • A reputable lending company – Having a strong and stable lender can help both you and your customers feel confident in your decision making.

Once you’ve identified the right fit for your business, it’s time to start the process of offering contractor financing for customers.

Begin Enrollment Process

Depending on the lender you choose, this process may differ a bit. Across the board, however, you can expect to share information about your business, fill out required documents, and complete program specific trainings. Trainings could include anything from best practices for offering financing, using the technology, and how to stay compliant.

Train Your Team

Once the enrollment process is complete, it’s time to get your whole team on board and ready to begin offering financing. Ensuring that every member of your team is on the same page will help you get the most out of your program. This is especially true for your salespeople that are in your customer’s home.

If every member of your team is following the same process, you’re more likely to see success from your loan program. This could mean making financing a part of every bid, offering specific loan products, and ensuring that they’re compliant with regulations.

Here at Regions | EnerBank USA, we offer role-specific training for every member of your team.

Mention in Marketing

Once you have all the parts of your program in place and your team is ready, start including payment options in your marketing. This should include flyers, truck wraps, yard signs, door hangers, your website, and more.

If customers know you offer an easy way to pay, they’re more likely to reach out to get a bid. This makes it easier for you to get better-qualified leads and spend less time pounding the pavement. Plus, it helps improve your credibility as a business, making you a more trustworthy option for people’s home improvement needs.

Contractor Financing for Customers

Now that you have a better understanding of how to offer contractor financing for customers, let us tell you a little bit about Regions | EnerBank USA. For over two decades, we’ve helped thousands of contractors grow their business through payment options. Our experience in the home improvement industry has allowed us to create tools and resources to best fit your needs.

Ready to get started? Click HERE or fill out the form on this page and a member of our team will be in touch soon.


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