Effective October 1, 2021, EnerBank USA ("EnerBank") merged with and into Regions Bank. Learn more here

Misconception #5 – Common Contractor Misconceptions

Posted January 25, 2024 by EnerBank USA

Misconception #5

We’ve made it to the end of our common misconceptions when it comes to contractor financing. If you’re new here — no worries, you can catch up on our first four posts:

We have over two decades of experience in the home improvement industry, making us a great resource for your business. With this knowledge, we’ve created a wide variety of resources that are exclusively for home improvement contractors.

Here’s the final part of our series: Misconception #5 – All Contractor Financing Options Are Equal

Dedicated Relationship Manager

Like an extra member on your team, your relationship manager is your single point of contact here at the bank. They’re here to answer any questions you may have as well as providing additional resources to help you grow your business.

Paperless Application Methods

You and your customers have a lot going on, and the last thing either of you wants to deal with is extra paperwork. That’s why we developed three paperless application methods for the ultimate convenience: our Mobile Loan App, the Online Loan Application, and Loan-by-Phone. With quick credit decisions, you can have the entire process completed while you’re still in the customer’s home in most cases.

Fast Funding

Traditionally, you may have had to wait until the end of the project to get paid, leading you to juggle cash between jobs to get the work done. When you work with us, you can request payments, putting you in control of your cash flow. Once you request funds and the homeowner approves, we’ll deposit the funds directly into your account, usually within 24 hours.

Customized Marketing Materials

EnerBank gives you high-quality marketing materials as a part of your loan program. Not only can you make a great first impression with potential customers, but you can stand out from the competition. Plus, you can easily include the availability of payment options, helping to increase your leads.

Online Tracking & Reporting

Stay on top of everything from wherever the job takes you. Our convenient online dashboard, PartnerPortal, lets you track performance results through customizable reports, access loan codes, check application statuses, and work with electronic loan documents.

Plus, so much more, we can’t fit it all in one blog post! Hopefully you can now see the value of offering contractor financing. Ready to join your own loan program? It’s easy – Just visit our website.


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