You can procure customer financing in one of two ways; which is right for you?
There is no denying that many homeowners struggle to finance their home improvement projects. In fact, they tend to choose home improvement contracts with various financing options. Providing different payment options for your clients can be a game-changer for your business. Ultimately, you can boost your bottom line by adding various payment options for customers who need them. Here are some exceptional ways to provide clients with financing options most effectively and efficiently.
Customer Financing In-House
For the most part, in-house customer financing is the most common way that companies invest in customer financing for their businesses. If you are already considering including customer financing as an option for your clients, you will need to understand how that financing actually occurs. When you offer in-house customer financing, you are more responsible for it. In other words, you can dictate the specific terms you’ll offer, along with exactly how customers will pay you. Ultimately, with in-house customer financing, you’ll be able to have more control over the tracking of payments and also create a process for collecting late payments, ensuring you are handling your company’s accounting effectively and efficiently overall.
Third-Party Financing
Another option that many companies typically use is a third party to handle their overall customer financing. Indeed, many companies prefer to outsource all their accounting — including customer financing. The reality is that by having a third party handle the accounting and customer financing, business owners can focus on all the other aspects of their business, as opposed to being saddled with the responsibility of navigating the invoices and payments. Ultimately, it becomes increasingly important for business owners to make sure that their accounting is always in order. With a professional third party, there is significantly less chance of encountering mistakes in accounting for your business.
At the end of the day, how you implement the specifics of your customer financing options is one thing — but providing customer financing as a way for your customers to access your services affordably can be a game-changer for your bottom line. Pure Finance Group is here to help you do just that; contact us for more information!
Pure Finance Group Is Here to Help!
Thank you for your interest in Pure Finance Group. We’re so excited you’re here. For more information on how our lending services can help you with your home financing needs, give us a call (410-401-4957) or fill out the form on our contact page today. If you have a question about any lending services we provide including home improvement loans, we are here to help answer all your questions. Just give us a call (410-401-4957) or contact us today. To keep up-to-date with the latest financing tips and solutions, keep in touch with us on Facebook and LinkedIn!