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The Value of a Strategic Financing Partner for HVAC Contractors

Posted February 10, 2022 by EnerBank USA

strategic financing

Are you sponsoring a loan program that your dealers offer to their customers? That’s great! It means you’re on your way to increasing revenue and market share. Choosing the right loan provider can make all the difference. It can be difficult to find ways to differentiate your products and your contractors from all the competition out there, so you look for value-added ways to stand out — and a top-notch bank partner can really do the trick. Look for a strategic partner you can depend on, and one who provides a superior customer experience all while helping you build brand loyalty.

Here are just a few of the benefits that we have discovered through extensive research while working with our loan programs:

Boost Brand Visibility

A great way to stand out from the competition is creating a recognizable brand. When you incorporate payment options as a part of your brand, it encourages contractors to work with you because they’ll be able to experience the benefits that come along with offering financing to their customers. When payment options are associated with your brand, it increases the likelihood that they’ll work with you because the process is easy. Plus, everything is branded to you, creating even more recognition, and you can choose who joins your program, adding an extra level of exclusivity.

Improve Customer Experience

You know better than anyone how much your customers value ease and convenience, especially when it comes to their home renovation projects. By providing a payment options program for your network of dealers, you become a one-stop shop and an appealing option for homeowners because they know they don’t need to go anywhere else to get the job done.

Grow Your Market Share

The fact of the matter is that providing any type of financing options can help improve your bottom line and help take your business to the next level. In fact, many see their sales jump by nearly 30% when they offer payment options. As you continue to grow, you can attract more dealers, boost your sales, and increase your brand visibility.

So you may be asking yourself at this point, how can I determine which partner will be the right fit for my white label loan program? First, find a real bank that is subject to state and federal banking regulations and examinations. Ideally your partner will fund all of their own loans, so your contractors are guaranteed to get paid quickly. Second, your partner should take their role as your lender seriously. Look for a partner that will provide your contractors with specially developed loan products. Third, investigate what kind of support your partner can offer once you come aboard. Will a relationship manager be available to you the entire time? Fourth, look to see what kind of data and marketing support will be provided to you. There should be some kind of online tracking, reporting tools, and even marketing materials available to you.

 

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