Home Improvement Customer Financing For Contractors

What Does Home Improvement Contractor Financing Mean?

Home improvement contractor financing can mean two things:

1. Home improvement financing for contractors. Most contractors will collect a small deposit before starting a project. Ideally, this deposit covers the materials you need to complete the project, but this is not always the case. Between materials and labor, project costs can add up quickly. It’s not uncommon for contractors to use financing to help with cash flow. Home improvement contractor financing can relate to contractors in need of financing. 
2. Home improvement financing for customers. One of the most common objections for contractors is that the customer wants to complete the project but can’t afford it. Luckily, this is an easy objection to overcome. Contractors can partner with lenders or lending platforms to connect customers with home improvement financing. For customers this will create the opportunity to expand project budgets while alleviating financial stress. For contractors this will help close more deals while improving customer service. Home improvement financing for customers is a win-win situation. TGUC Financial can help customers of all credit scores qualify for home improvement financing. 

Who Has The Best Home Improvement Contractor Financing?

At TGUC Financial, customers can qualify for home improvement loans up to $100,000 with competitive APRs. With the ability to help all credit types, TGUC Financial is one of the best partners to have in your back pocket. It’s convenient, fast, and easy. Whether you choose to be an official TGUC Financial partner or just refer customers, you can help customers get the funds they need to invest in their home. Becoming a TGUC Financial partner is free for life and you can even receive free pre qualified leads as a way to say thank you.

What Are The Benefits Of Offering Contractor Financing To My Home Improvement Customers?

If you’re a contractor who completes large-scale home improvement projects, having a financing partner like TGUC Financial can help your business thrive. Even if you are a contractor who specializes in smaller home improvement projects, being able to offer financing through TGUC Financial can come with some major benefits. Here is a breakdown of some of the main benefits that partnering with TGUC Financial can provide.

1. Customers can afford larger projects: If you’re  a contractor who specializes in larger, more complex projects like full kitchen remodels, backyard renovations, and pool installations, most of your customers are going to want to finance these types of larger, more expensive projects. By financing these types of projects, homeowners can afford the project they want by spreading out the costs over easier-to-manage monthly payments. 
2. Receive full compensation quickly: Once you have completed the home improvement project for your customer finances, you can receive your compensation in full. The lender assumes full responsibility for collecting loan payments. Once the project is completed, you can expect payment in as little as one business day. 
3. Competitive loan offers for your customers: By partnering with TGUC Financial, you can provide your customers with access to an entire network of lenders who are all competing for their business. Competition is a good way to keep interest rates low, fees to a minimum, and a way for lenders to create additional perks and programs that can benefit your customers. 

How Can I Help My Customers Pay For Their Home Improvement Repairs?

Sometimes potential customers may contact you for an emergency home repair rather than a larger and expansive home improvement project. If the emergency home repair is unexpected, the customer may require financing to pay for the repairs rather than pay out of pocket. By partnering with TGUC Financial, you can provide your customers with access to much-needed financing to pay for emergency repairs they may not have the cash to cover. The repair costs can be paid for in full by the lender at the time the project is completed and the customer can pay it off over time with monthly installments. 

As A Home Improvement Contractor Am I At All Responsible For My Customer’s Loan?

As long as the contractor did not issue the loan through their own company, they are not responsible. This is one of the major reasons why partnering with a third-party lender is a smart idea. The ability to connect customers to financing, but not have to get involved is ideal. If the loan is issued by a third party lender it’s their risk, not yours. The lender will be responsible for all things that relate to the loan from funding to monthly payments. 

As A Home Improvement Contractor When Do I Get Paid If My Customer Has Financing?

Contractors can expect to be paid in full at the time the home improvement project is completed. Lenders can often deposit the funds into your business account in as little as one business day. In some cases, the customer may be responsible for producing payment, even if they are using financing. Payment terms should always be pre-arranged before work is started. 

How Do I Offer Financing To My Home Improvement Customers?

To offer financing for customers, you’ll need to enlist the help of a lending partner. Choosing a credible lending partner can make all the difference in you and your customer’s experience. You’ll want to work with a reputable lender that cares as much about customer satisfaction as you do. Rest assured, there are plenty of options you can uncover with a little bit of research, but if you’re looking for the best, choose TGUC Financial. TGUC Financial will benefit you and your customers. Customers can access home improvement loans up to $100,000 with terms up to 15 years and APRs as low as 4.99%. If customers are unsure financing is the right option, you can help them along by assuring them that checking offers does not impact their credit. TGUC Financial can also offer free local leads for contractors. We believe that all business relationships are a two-way street. Let’s work together.

Build the future success of your business. Offer Home improvement financing for customers!