Why Offer Unsecured Home Improvement Loans?

What are unsecured home improvement loans and why are they a great choice for your home improvement customers? An unsecured loan is simply a loan that is not secured by collateral. A secured loan, on the other hand, would establish collateral for the loan, such as placing a lien on the homeowner’s house.

Benefits of Unsecured Loans

As a contractor, it’s a critical part of your sales process to offer a choice of attractive payment options for your customers, so that cost — and how to pay for the job — isn’t an issue, and you can then focus on the value you provide. Offering an unbeatable choice of payment options is a proven way to increase leads, boost close rate, and grow project sizes. In addition, there are several advantages to offering unsecured loan products:

1. Faster & Easier

For your customer, the process for obtaining an unsecured loan through you can be much quicker and simpler than going to a bank and taking out a loan against their house. With EnerBank, it’s as convenient as filling out a simple paperless application and getting a quick approval. And the EnerBank ExpressSign^®  feature makes the application and funding process a breeze.

2. Reduced Risk

Your customers can take on a loan to pay for their home improvement project without having to put up collateral to secure the loan. Which means the borrower isn’t risking their house or other assets when they borrow the money for their new kitchen, replacement windows, or updated HVAC system. That provides your customer more peace of mind and makes them more comfortable with spending, which will encourage them to move forward with the project.

3. More Choice

Having a choice of unsecured loans gives you more flexibility in what you can offer your customers. You can tailor your offerings to meet the needs of the job and the desires of the homeowner. By providing a choice of attractive loan terms for your customers may find them more appealing than using other methods for their home improvement project. And with MaxApproval, your customers will feel empowered to get their dream project.

Start Offering Unsecured Loans Today

EnerBank offers a number of attractive loan programs with many tailor-made loan products for the home improvement industry. This is all we do, and we’re ready to help you bring your business to the next level. Fill out the contact form on this page to discover more!