Best Financing For Plumbing Customers

What Is Plumbing Contractor Financing?

Plumber contractor financing is a valuable tool that can boost sales dramatically while improving customer satisfaction. With plumbing contractor financing, the contractor does not directly offer the financing but rather they defer them to lending partners. The lending partner is responsible for qualifying the customer and collecting payment. As a contractor your main responsibility is simply completing the job that was agreed upon. Loans for customers are generally structured as unsecured installment loans that are repaid in equal monthly payments with interest. 

How To Improve Plumbing Sales?

There are a number of ways to improve the sales of your plumbing services. Let’s review just a few.

1. Advertising. Advertising with multiple channels (i.e. social media, local forums, newspaper, etc.) can boost sales. If you offer financing, you should include that in your ad as that may attract more customers. 
2. Referral incentives. Referrals are the best thank you a plumber can get. While offering great service is a must, customers do not have to send you referrals. As a plumbing professional it’s smart to keep in touch with customers and offer a referral incentive such as $50 or $100. 
3. Financing. Offering financing is one of the most cost effective ways to boost sales. In fact, offering financing with TGUC Financial is free for contractors. TGUC Financial can even send contractors free local pre qualified leads, thus helping boost sales even more. FInancing is also a great way to encourage customers to spend more. 
4. Reviews. Customers love to hear from previous customers. Encourage previous customers to leave you honest reviews. Reviews will not only help you capture more deals but it will help you come up in local searches. 

Who Has The Best Plumbing Contractor Financing?

It’s no secret that TGUC Financial is one of the best partners for contractors that want to offer financing. From competitive APRs to generous loan amounts, TGUC Financial works with contractors to deliver a seamless customer experience. Our free partnership will help take your business to the next level. 

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

Payment arrangements can vary depending on the lender. At TGUC Financial, the contractor is paid in full when the project is complete. Since financing is secured upfront, it’s important as a contractor to accurately estimate the job. Of course, surprises can come up or unexpected events, but do your best to leave a little margin for error. If you run into an issue, inform the customer as soon as possible so you can make arrangements for how the difference will be paid. Once the job is complete, all funds coming from a TGUC lending partner can hit your account in as little as 1 business day.

How To Grow My Plumbing Contractor Business?

There are many ways to grow your plumbing contractor business. You can send out direct mailers to homeowners in your area, create a customer referral program that rewards past customers who refer you new business, or you can advertise on social media and local television. These are some fundamental ways that you can grow your plumbing contractor business. 

Another way you can grow your business is to add financing options to your list of offerings. Being able to not only complete a successful plumbing job but also be able to provide ways for your customers to pay for the job, is a great way to grow your business. Being able to offer financing to your customers can help you land much more and often much larger jobs than if you did not. 

How Can I Help My Customers Pay For Their Plumbing Repairs?

Sometimes plumbing repairs may be required that no one was planning on. Maybe a hot water heater goes out or a pipe bursts and floods a basement, often plumbing repairs must be done under emergency conditions. Because of this, many homeowners may not have cash on hand to pay for these emergency repairs. As a plumber, your job is plumbing, but you need to get paid for your work. While you can offer payment plans for customers, this may not be the best option for either of you. Payment plans are often short-term, therefore the payments are high. Furthermore, they require more work for the plumber that is outside the scope of their job. And of course, if the customer defaults you do not have a collections team on staff to recoup funds. A better way to help customers pay for plumbing repairs is to partner with a lending platform such as TGUC Financial,

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

The simple answer is no. Any and all financial aspects of a plumbing loan should be assumed by the lender. Hence why the customer goes through the approval process before work is started. As a contractor the only thing you are responsible for is completing the job the right way.

Keep business flowing. . . offer plumbing financing for customers today!