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EnerBank's COVID-19 Update Center


Bouncing Back: Tips for Resuming Business After COVID-19

July 21, 2020

The COVID-19 pandemic has really changed the way we do business, and the economy is taking a serious hit from the response to the situation. But as economies across the country begin to reopen, it's time to figure out the best way to ramp up your home improvement business once again. Contractors like you are resilient and innovative, and open to finding new ways to grow your businesses in these difficult circumstances.

We're here to work through it all with you. Here are some best practices to help you re-grow your business during the recovery:

SBA Loans

Partway through the crisis, the United States Congress passed the Coronavirus Aid, Relief and Economic Security — or "CARES" Act. Included in that legislation was the United States Small Business Administration's Paycheck Protection Program — assistance in maintaining payroll during the economic downturn caused by the coronavirus pandemic.

Under the act, many small businesses with fewer than 500 employees could borrow up to approximately 2.5 months of average monthly payroll expense (subject to approval), helping businesses and their employees stay afloat for a while.

Programs like this often change — with funds running out, then being reestablished — and the specific eligibility rules getting modified over time. For the most up-to-date information on this kind of relief, we recommend visiting the SBA at

Online Loan Application – Avoid Touching Devices

Even though businesses are reopening, social distance recommendations remain in effect, and some clients will likely still be hesitant about getting too close to other people. Fear not — EnerBank offers three quick and easy loan application methods for your customers — Mobile Loan App, Online Loan Application, and Loan-by-Phone. To help reduce physical contact with others' devices, we recommend encouraging your customers to use their own device or computer to apply using the Online Loan Application. Using the Online Loan Application during this recovery period will limit the amount of handling of devices, so clients can apply with comfort and confidence.

Advertise Financing Options

Many home shows and trade shows have been canceled during the lockdown to uphold social distancing standards. Contractors like you had to forfeit that growth opportunity, reducing your leads. But you can boost your leads by advertising payment options in all your marketing materials, especially on your company website.

Contact your EnerBank relationship manager to find out how to add our integrated banners and buttons for pre-bid qualifying customers. These tactics have improved lead quality and increased close rate for many contractors, and can help you bounce back from this economic downturn.

Same-As-Cash Loans

To combat the economic impacts of the shutdown, we recommend you offer Same-As-Cash Loans to help customers who want to hold onto their cash for now. Our Same-As-Cash Loans are very appealing for ensuring work progresses, despite the sluggish economy.

Prepare A Script

Prepare a basic script or key messaging points for speaking to customers about the steps you're taking to keep customers safe as we emerge from the COVID-19 situation. Explaining the adjustments and precautions your business is making to safely move forward will help customers feel good about moving forward with their projects.

These best practices can help you continue to provide excellent home improvement services and navigate through this recovery time.

Meanwhile, EnerBank remains excellently positioned to continue serving you and your customers. If you have any questions at all, please contact your dedicated relationship manager.

Message from Our CEO

April 21, 2020

Contractors and Program Sponsors: Watch this important message from our president and CEO.

Keeping Your Lead Funnel Flowing

April 16, 2020

As we all navigate the economic impact of the COVID-19 pandemic, our commitment at EnerBank is to provide you with the best resources to help sustain your business. An important way to keep the leads flowing is to make sure you're advertising payment options in your marketing materials, especially on your website. Talk to your relationship manager about using one of our custom banners on your website to pre-bid qualify customers. This helps tie your clients to you and close more deals. Also, offering our Same-As-Cash loans at this time is an excellent way to help bring comfort to your customers who may be worried about liquidity in this economy.

Make the Most of EnerBank Marketing Materials

Enerbank Website

Same as Cash Loan

Review your Marketing Communication

To boost your leads, utilize your online presence.

  • Advertise a choice of payment options in all of your marketing materials
  • Communicate the steps you're taking to ensure customer and employee safety
  • Be available to speak with your customers, either online or over the phone

Financial Assistance News

April 14, 2020

The government continues to add funding to the Small Business Association's "Paycheck Protection Program" under the CARES Act, but the situation changes daily. For the most up-to-date details, please visit the SBA website at

It's the Best Time for Best Practices

April 2, 2020

Let's talk about how you can use technology, financial tools, and good communication to keep business rolling during this difficult time.

First, take advantage of the convenient technology that's available to you and encourage your customers to use those tools, too.

  • Use the EnerBank USA Online Loan Application. Simple and paperless, the Online Loan Application process makes it easier than ever to apply from a computer. This is the best choice for making sure social distancing is observed, because you don't need to share devices to get it done.
  • Mobile Loan App – Our Mobile Loan App provides your customers with another quick and easy choice to apply from your device.
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  • Loan-by-Phone – One easy call to our experts and you can get an approval in minutes.

Put Customers at Ease

Now is the time to build trust with your customers. Be clear about the steps you're taking to keep them safe. You might communicate something like this:

ABC Contracting is still open for business and we're taking the health and safety of our customers and employees seriously. Due to the pandemic, we're taking extra precautions to ensure our customers and employees are safe. Here's what you need to know:

  • Our employees are required to follow a rigorous handwashing protocol
  • All employees who feel ill or have ill family members may not report for work
  • We're working hard to protect our customers by requiring our employees to wear gloves and practice social distancing for in-home estimates
  • Our estimators are able to provide in-home bids without customers in the same room
  • We offer payment options you can apply for online, without any direct contact with anyone

Make Paying Easier

Offer payment options:
To help your customers feel more comfortable with moving forward on their project, provide them with an unbeatable selection of unsecured home improvement payment options.

We recommend a Same-As-Cash Loan and a Reduced Interest Loan which could ease some concerns and help complete a much-needed home project.

  • Same-As-Cash
  • Reduced Interest Loan

This can go a long way to putting your customers at ease. And when they know that you use EnerBank, a bank that's been doing nothing but home improvement loans since 2002, they'll be even more at ease.

  • EnerBank is a well-capitalized member-FDIC bank. We're ready to fund and service all loans.
  • A loan from EnerBank won't tie up home equity, available cash, or credit lines.
  • No closing, appraisal or application costs.
  • No high default APRs for late payments.
  • EnerBank has a 120 day approval window on most loan products

Keep Your Cash Flow Predictable

March 29, 2020

Your customers may be experiencing economic impacts of the pandemic, but they will still need work done on their home.

However, things are changing quickly. Remove the risk of not getting paid at the end of your projects by offering your customers a choice of payment options.


Improve Cash Flow

This way, you'll definitely get paid, and your customer gets the work that they need done!

Reduce Cancellations

Reduce Cancellations

Offering a choice of payment options can also reduce cancellations.

Your customers might be considering cancelling their home projects to keep their cash on hand.

Offering them a way to do their project now and pay later will give them what they need and give you the opportunity to keep the job.

Providing your customers with a choice of payment options gives them the convenience and flexibility of completing their job today.

  • Keeps your phone ringing and helps your business maintain customers and cash flow
  • Boosts your close rate by making it easier for customers who are concerned about their financial future to say yes to a project today
  • It gives your customers additional flexibility to bridge economic uncertainty
  • Builds trust with your customers by completing their project now and allowing them to pay later


EnerBank Temporary Relief Program

March 28, 2020

Cash flow is critical right now. Not only do we fund you usually within 24 hours, but we are also helping you keep more money in your budget by drastically cutting your fees on a number of important loan types, including Same-As-Cash.

To support your business, provide some relief, and encourage your customers to move forward with their projects, we're offering a significant reduction in dealer fees for certain EnerBank loans, including several Same-As-Cash and Zero Interest Loan options. We've also lowered dealer fees for several of our other popular loans.

Here are some important benefits of offering your customers a Same-As-Cash loan:

  • Same-As-Cash loans typically have an 87% approval rate.
  • When consistently offering 12-month Same-As-Cash loans, you can close an additional 19% of your bids.
  • When you offer a choice of payment options, including Same-As-Cash, you'll typically increase your project size by as much as 43%.

Contact your relationship manager for more information.

What is EnerBank Doing?

March 26, 2020

At EnerBank USA, we're closely monitoring the global, national, and local impacts from the Coronavirus (COVID-19) pandemic. The health and safety of our employees, strategic partners, and the communities we serve are of critical importance to us. We've implemented best practices to slow the spread of the disease as recommended by the World Health Organization (WHO) and Centers for Disease Control and Prevention (CDC), such as social distancing, select remote work, suspension of business travel, and increased sanitation in our facilities. While we take necessary precautions in our business, you can count on us to continue to deliver the same quality service and support you rely on from EnerBank USA, including:

  • Service & support: We're taking every precaution to keep our staff safe, with over 80% of our employees working from home, and those working in the office following the CDC guidelines of six feet of separation. Our lending, contractor support, and customer service agents are standing by to process applications, manage funding requests, and answer your questions.
  • Quick and easy application and funding process: We continue to provide multiple paperless and easy loan application processes, including our Online Loan Application and Loan-by-Phone for homeowners, and Mobile Loan App for contractors. We recommend that homeowners apply via the Online Loan Application or Loan-by-Phone, to avoid sharing devices.
  • Funding commitments: EnerBank has been funding home improvement projects nationwide since 2002. We fund all our loans from our balance sheet and do not require external capital to fund projects for your dealers. You can count on our consistent funding capabilities, despite changes in economic conditions. Working directly with a member-FDIC bank, you can rest assured you'll have the money you need, when you need it.

Despite short term uncertainty, our team remains optimistic about the future and committed to you. Please contact us if you have any questions or concerns.