The remodeling industry is unique, and you may not have the time or resources to create a financing program of your own to fit both the needs of your customers and your business. That's why linking up with a financing provider can be a great step forward for your business.
Why Do I Need to Offer Customer Financing?
Have you found your contracting business struggling to close deals or attract new customers? You're not alone. Here are some common issues that contractors are experiencing in this busy and competitive market as well as how offering payment options can help negate them.
Customers Want Financing
Have your customers expressed interest in financing their projects, but you don't have the time and resources to develop your own program? EnerBank has you covered. With comprehensive loan products designed specifically for home renovation, there's a fit for every homeowner.
Losing Out On Jobs
It's tough losing a job, especially when it's to your less-experienced competition, just because they advertise payment options. Research has shown that by including payment options as a part of your marketing, you can see a 50%* increase in leads and a better conversion rate.
*Based on the Brickyard Study conducted by EnerBank USA. 2018.
Previous Bad Experience
Not happy with your current payment options provider or have had a bad experience in the past? EnerBank is different, and here's why: we're experts in home renovation — that means we can provide personalized service that you won't find elsewhere. Your dedicated relationship manager will be there to assist you with everything from business goals to branded marketing materials.
Why Work with EnerBank for Home Remodel Financing?
We're not your run-of-the-mill lender. Over the past 20 years, we've funded nearly a million home improvement projects to the tune of over $12 billion, providing specialized support to home improvement professionals and homeowners. This means we're not only experts in our industry, but we're an expert in yours too. Here are just some of the things that set us apart from the competition:
A Choice of Application Methods
We've developed three easy, paperless ways for your customers to apply for financing. This includes applying online, through our app, or over the phone, and it also means no extra paperwork for you. Plus, the API can be integrated into your sales process, so it's as easy and convenient as possible.
Dedicated Relationship Manager
Like an extra team member on your crew, looking out for you and your business, your dedicated relationship manager is committed to your business and will provide you with the support you need to be successful.
Customized Marketing Materials
EnerBank provides high-quality marketing assets and other resources, including top-notch training designed to make offering payment options easier and more effective. This includes website integration, emails, flyers, and more.
Excellent Customer Experience
We know remodeling projects can be stressful for everyone involved, and that's why it's our goal to provide the best possible experience to both you and your customers. With technology and loan products designed specifically for home renovation, you can rest assured that you and the homeowner are in good hands throughout the process.
Frequently Asked Questions
- QWhat Kinds of Home Remodeling Can Be Financed?
- AThe lending companies that specialize in home improvement financing can cover a variety of home improvement projects. This can be everything from the roof down to the foundation, and out into the yard. During your research, ensure that whatever company you're looking at provides funds for your line of work. Since EnerBank specializes in home improvement financing we can help just about any successful contractor offer financing to their customers.
- QHow Can a Home Remodeling Contractor Offer Financing?
- AThe first step is to establish a relationship with a lender. Do your research to find someone who provides the right tools and most aligns with your growth goals. Once you have a lender, create a strategy to implement financing into your sales process. The most important aspect of offering financing is making sure it's included in every bid you present. The more of a routine you make this, the more likely you are to enjoy the benefits that financing offers. Make homeowners aware of financing by mentioning it in all your marketing materials and on your website.
- QWhat Are the Benefits to a Contractor to Offer Financing?
- AContractor financing provides an easy way for your customers to pay for their projects without them having to seek outside funding. Offering financing can help you increase your leads, grow your average project size, close more deals, and more. Customers appreciate the ease and convenience that financing affords them, allowing them to get the project they want now without having to make compromises.
- QHow Soon Does a Remodeler Get Paid when Customers Get Financing and Pay Later?
- AIt depends on your lending partner. Some financing companies will send the funds to the homeowner who then pays you while others will deposit the funds directly to your account. Make sure you understand the process before signing on with a company. EnerBank usually get the money to the contractors within one business day after the loan has been approved.
- QHow Can I Know Which is the Best Remodeling Finance Company?
- AAs a contractor, working with a finance company that has a firm understanding of the home improvement industry, like EnerBank, can make all the difference. The loans and tools they have available can fit right into your business and strengthen the foundation your business has already built. You can also take advantage of any additional resources they have to help make your team and business the best it can be.
Start Offering Home Remodel Financing!
Ready to get started with customer financing for remodeling contractors? Click the button below to fill out the form, and a member of our team will get back to you within two business days.