Should your home improvement company offer financing? Yes; here’s why.
Customer financing is the option for customers to pay a company via installments or store credit instead of upfront. It is a great way to gain more customers who would prefer to pay in smaller amounts over time rather than everything at once. Is customer financing right for your business? If you have a home improvement business of any kind, then most likely, you can definitely say yes.
Will Your Customers Use Customer Financing?
Will your customers find customer financing useful? Home improvement projects like remodels, additions, installations, and projects can be pricey; in fact, that is typically an understatement for many homeowners. Major home improvement projects, both outdoors and indoors, cost thousands of dollars. Many people would gladly work with a company that offers financing without having to find financing on their own.
Will Your Customers Qualify for Customer Financing?
Some customer financing options require a soft credit check, and some need no credit check at all. Some options also require that the customer have a credit score above 650. Which method you should go with depends on whether you want to ensure your customers are stellar borrowers or open your financing to any customer. At Pure Finance Group, we can help you determine which way is best for your business.
What Might the Spending Threshold Be?
Some customer financing deals are open to customers that pay a certain amount. For example, they can opt for customer financing if they pay over $1,000, but any project under $1,000 will require an upfront payment. For home improvement projects, having a spending requirement could make financing simpler or might not be necessary.
Can You Offer Competitive Financing?
Home improvement companies that offer financing have a competitive edge, but that financing offer must be attractive to the customer. The best customer financing includes no interest and no fees, especially hidden ones. Many home improvement companies in Maryland offer financing, but yours should stand out as one of the best. Pure Finance Group can work with you to offer your customers the best financing deal possible.
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!