ATTENTION: Home Improvement Companies!
How it Works
Get the most value when you partner with us!
Learn how our straightforward home improvement financing process can help you grow your business, ensuring projects are accessible to a broader range of clients through appealing financial solutions.
We offer "Dealer Financing" meaning you control the financing and the fundings go into your business bank account and not the consumers bank account giving you more control over your processes.
Step 1: Send Customer Application:
Getting started is easy. Sales reps will log into their finance portal through their mobile device and text or email out the credit application to the customer while they are in their home during the appointment.
Step 2: Customer Fills Out and Submits Application:
Once the customer receives the credit application, they will provide their personal information on the credit app which includes names, address, email, social security, income, and date of birth and them submits the finance application back to our team.
Step 3: KYC Identity Verification
After the application is submitted, your customer will receive a text link for them to upload a front and back copy of their drives license.
Step 4: Review Offers
Once their Identity has been verified and the customer qualifies for the loan, they will be presented with the finance plan that you selected to offer them. Customer will check the box to approve the plan and confirm the monthly payment.
Step 5: Sign Loan Docs
The final step after the customer has been approved and selected their terms is for them to sign their loan documents. The customer will receive an email with a docu-sign link within 15 seconds after the loan has been accepted by the customer.
THATS IT! SUPER SIMPLE
Our Finance Plans
We provide flexible and competitive financing solutions designed to help home improvement companies offer their customers the ability to finance their renovation projects with ease. We understand that affordability and flexibility are key factors for homeowners when making large investments, which is why we offer a variety of plans to meet diverse financial needs.
Fixed Term Plans:
Our standard financing options include 7, 10, 12, and 15-year terms with competitive interest rates ranging from
6.99% to 12.99% apr.
These plans provide manageable monthly payments, helping homeowners spread the cost of their renovations over time while still keeping their budgets in check.
Promotional Plans:
In addition to our standard term plans, we offer a range of promotional options that give customers greater flexibility when it comes to their home improvement loan.
No Interest, No Payments for 6, 12, 18, or 24 Months: This plan allows homeowners to defer both payments and interest during the promotional period, giving them time to complete their home improvements without immediate financial pressure.
0% Financing for Up to 72 Months: For those looking to lock in a longer-term, interest-free option, we provide 0% financing for up to 72 months. This is an excellent choice for customers who want to spread their payments over time without incurring any interest.
These flexible financing plans empower home improvement companies to provide their customers with affordable options, helping more homeowners achieve their renovation dreams. By partnering with us, you can offer these financing solutions as a value-added service, making it easier for your customers to complete projects that enhance the beauty, comfort, and value of their homes.
Live Finance Portal Training
Welcome to the Dealer Resources section of our website, dedicated to enhancing your ability to offer top-tier home improvement financing solutions. Our resources are crafted to boost your expertise and effectiveness in providing financing options to your customers, ensuring they can make their home improvement dreams a reality with ease.
Pre-Recorded Training Videos
Explore our extensive collection of pre-recorded videos, each focused on a key aspect of dealer financing and home improvement financing strategies. These videos provide step-by-step guidance on integrating financing solutions into your business model, helping you to meet the diverse needs of your clients efficiently.
Dealer Financing vs. Customer Financing in Home Improvement: Who Receives the Funds?
In the world of home improvement financing, understanding the flow of funds is crucial. Dealer financing and customer financing serve as two primary models, each with distinct paths for fund disbursement.
Dealer Financing- Here, the funds are disbursed directly to the home improvement company. This model ensures that the company receives payment upfront from the financier, enabling them to manage project finances directly. It simplifies the customer’s role, as they do not handle the funds but agree to repay the financier under agreed terms.
Customer Financing- Contrarily, in customer financing, the funds are given directly to the homeowners. This model empowers customers to control their spending and choose their contractors freely. While offering flexibility, it places the onus on customers to manage their project budgets effectively.
The choice between dealer and customer financing impacts how projects are budgeted, executed, and managed. Dealer financing streamlines the financial dealings for contractors, while customer financing offers more control to homeowners, making each suitable for different scenarios and preferences in the home improvement industry.
All Home Improvement Finance Plans that we offer are DEALER FINANCING
Funds are deposited into your company`s bank account
Customer Financing Risks
Delayed Payments: There's a risk of delayed project completion if customers delay payments to contractors.
Contractor Reliability: Since funds are controlled by customers, contractors must trust that payments will be made promptly after project milestones are met.
Customer Switch: Since funds are controlled by customers, customers can cancel at anytime and use their funds to buy from another home improvement company.
Don't worry, we only offer Dealer Financing!
Understanding Funding Models for Home Improvement Companies: Stage Funding and Completion Certificates
For home improvement companies securing funding through finance companies, understanding the disbursement process is crucial. The funding can be managed through two primary methods.
Stage Funding and disbursements upon project completion. Lets discuss both of these in depth.
Stage Funding allows for an upfront deposit of up to 50% once the customer signs the loan documents. This early injection of funds helps companies manage cash flow effectively, ensuring that resources are available to commence work immediately. The remaining funds are released upon project completion, contingent upon the customer signing a Completion Certificate.
This certificate serves as a formal acknowledgment that the project meets the stipulated requirements and is fully completed.
Alternatively, some finance arrangements stipulate that the total funds are disbursed only once the entire project is completed and the customer has signed the Completion Certificate.
This method emphasizes the completion of work to the customer's satisfaction before any funds are exchanged.
Both funding models, Stage Funding and Completion Certificate aim to balance financial risk between the finance company, the home improvement company, and the homeowner.
Stage Funding provides more immediate financial support, while completion-based payments underscore performance and quality adherence. Each model has its strategic advantages, depending on the specific needs and agreements of the involved parties.
We offer Stage Funding up to 50% on our home improvement loans
You Receive Funding in 72 hours from doc signing if you have Stage Funding enabled
You Receive Funding in 72 hours from Completion Certificate Signing.
Utilizing Home Improvement Financing to Overcome Price Barriers in Upscale Projects
For higher-value projects, the sticker shock can deter even the most interested customers. Home improvement companies that offer robust financing options, including the option to spread the cost into manageable monthly payments, can break down these barriers. This makes upscale and luxury home improvements more accessible to a broader audience. Financing can be a game-changer in converting consultations into contracts, as customers who understand that they can afford their dream renovations through financing are more likely to sign on. Additionally, offering financing for these high-end projects can lead to higher average project values, boosting overall business profitability.
Sell the payment not the total price
Use promotional financing to drive leads and conversion
Financing is a CLOSING tool
Closing the Sale Using Home Improvement Financing
Discover how offering low monthly payments can significantly impact closing sales in the home improvement industry.
Learn to detect when customers are most receptive to financing options. Master the strategy to "sell the payment" by addressing financial concerns and emphasizing the advantages of spreading costs with terms up to 15 years.
Gain techniques for seamlessly integrating the concept of low monthly payments into sales conversations. Focus on how to sell the payment by aligning it with the customer's budget and project desires.
Address common objections to financing, such as concerns over terms up to 15 years, using clear, reassuring responses that sell the payment as an easy and manageable solution.
Explore strategies for using the appeal of low monthly payments to encourage customers to consider larger or more comprehensive projects.
Learn effective phrases and tactics that leverage the advantages of low monthly payments and long-term financing to close the sale
Learn effective phrases and tactics that leverage the advantages of low monthly payments and long-term financing to close the sale
Don't worry, we can help
STILL NOT SURE?
Frequently Asked Questions
Common questions from homeowners we`ve served
What is home improvement financing, and how does it work?
Home improvement financing is a financial solution that allows homeowners to fund their renovation projects through flexible payment options. As a company, you offer customers the ability to apply for loans or financing plans that cover the costs of their home improvements, which they can repay over time, typically with fixed monthly payments.
What types of home improvement projects are eligible for financing?
Most home improvement financing options cover a wide range of projects, including kitchen remodels, bathroom upgrades, roofing, HVAC installations, windows and doors, and more. The financing terms can be tailored to suit the size and scope of each project, allowing customers to complete large or small renovations
How can offering home improvement financing help my business?
Offering home improvement financing can increase your sales by making projects more affordable for homeowners. By providing flexible payment options, you can help customers take on larger renovation projects without paying the full cost upfront, leading to more closed deals and higher average project values.
What are the typical interest rates for home improvement financing?
Interest rates for home improvement financing can vary based on the customer's creditworthiness, the loan term, the lender, and your willingness to buy down the rate. Rates generally range from 0% promotional offers to competitive fixed rates for longer-term loans. Offering 0% interest for a limited time is a great way to attract customers who are hesitant about taking on debt for home renovations but can be costly. Standardized interest rates are between 6.99%- 12.99% with terms going as long as 15 years.
How long does it take for customers to get approved for home improvement financing?
The approval process for home improvement financing is typically fast and straightforward. Most lenders provide same-day or next-day approval through your portal, allowing customers to move forward with their projects quickly. In many cases, customers can complete the application during the initial sales appointment with your company and receive a decision within 2 minutes.
Are there credit score requirements for home improvement financing?
Yes, most lenders have minimum credit score requirements for home improvement financing. However, these requirements can vary by lender and financing program. Our financing options cater to customers with a wide range of credit profiles, so it’s important to offer multiple plans that can accommodate different credit situations.
What happens if a customer defaults on their home improvement financing loan?
If a customer defaults on their home improvement financing, the lender will follow its standard collection practices. In many cases, this can result in repossession of the financed product (if applicable) or legal action. As the business offering the financing, your role is limited to providing the initial financing option—the lender manages the collection process but may partner with you if they are not able to get in contact with the customer.
Can customers pay off their home improvement financing loans early?
Yes, most home improvement financing options allow customers to pay off their loans early without penalties. Offering no prepayment penalties can be a strong selling point for customers who prefer to pay off their debt sooner than planned.
What are the benefits of offering 0% financing to my customers?
Offering 0% home improvement financing is a great way to attract customers who may be hesitant about upfront costs. It allows customers to spread payments over time without incurring interest charges. This promotional offer often encourages homeowners to start projects immediately and can increase your conversion rates and fresh inbound leads.
How do I handle customer questions or concerns about home improvement financing?
As a business owner or sales representative, it’s important to be knowledgeable about the home improvement financing options you offer. Be ready to explain the terms, benefits, and application process clearly. Providing brochures or links to online applications can help streamline the process. If customers have specific questions about their financing terms, you can direct them to the lender’s customer service for detailed information or your dedicated rep on our team.
How do I incorporate home improvement financing into my sales process?
Incorporating home improvement financing into your sales process can help close more deals. During consultations, mention financing as a solution to make projects more affordable. Highlight how home improvement financing can help customers get the upgrades they want without paying the full cost upfront, and make sure to have financing options readily available when presenting project estimates.
What documentation is required for customers to apply for home improvement financing?
The documentation needed for home improvement financing is generally minimal. Most lenders require basic information such as income verification, credit score, and a government-issued ID. In some cases, proof of the renovation project may also be requested. The application process is designed to be quick and convenient for the customer.
How do I promote home improvement financing to my customers?
You can promote home improvement financing by including information on your website, brochures, and email marketing. In-person consultations are a great opportunity to introduce financing options. Emphasize how home improvement financing can make larger projects more affordable, allowing homeowners to complete renovations they might otherwise postpone.
What happens if a customer cancels their project after being approved for home improvement financing?
If a customer cancels their project after being approved for home improvement financing, it is important to cancel the loan in your finance portal or contact your dedicated rep. The lender may cancel the financing arrangement, depending on whether funds have been disbursed. Each lender has specific policies regarding project cancellations, so be sure to review these terms with your customer upfront. Feel free to contact your rep if you have any questions at all about this.
Is there any risk to my business in offering home improvement financing?
No, the risk to your business is typically minimal when offering home improvement financing because the lender assumes the financial risk. You provide the service, and the lender manages the credit approval and repayment processes. Your role is to offer financing as a payment option, which can help increase sales without adding significant risk.
Who's This Perfect For
Window Replacement Companies
Bathroom Remodeling Companies
Kitchen Remodeling Companies
Fencing Companies
Air Conditioning companies
Patio & Pergula Companies
Painting Companies
Countertop replacement Companies
Flooring Companies
Meet Your Dedicated Finance Manager
Nick Ross
His Story
Meet Nick Ross, a seasoned leader with over 15 years of experience in the home improvement industry, shaping his journey from the ground up. He began his career selling windows and energy efficiency products for Statewide Remodeling, one of the largest home improvement companies in Texas. His natural sales ability and leadership skills quickly propelled him to new heights when he became the selling sales manager for Euroview Inc. in Texas, where he oversaw sales operations for frameless shower doors. During his four years at Euroview, Nick grew the company’s gross sales by over 50%, marking his reputation as a key player in the industry.
In 2018, Nick transitioned to The Home Depot, taking on the role of district manager of home services. There, he was responsible for sourcing reputable service providers to partner with the company as authorized installers. His success in this role led to a promotion to Territory Sales Manager over the Southwest region, where he led the exteriors and interiors services division. With a team of six local sales managers and over 65 sales representatives, Nick’s leadership covered a wide array of home improvement services, including windows, doors, cabinet makeovers, and countertops. His ability to lead large teams while maintaining operational efficiency and driving sales growth was a testament to his skill set.
After the disruption caused by COVID-19, Nick saw an opportunity to pivot into home improvement financing with Dividend Finance. In this new venture, he grew a portfolio from $0 to $45 million in less than two years. As the industry faced rising interest rates and the company was sold, Nick partnered with a fintech company to create a portal that now services over 100 contractors, providing world-class financing solutions that help homeowners afford their much-needed renovations.
Nick’s journey has been more than just sales and financing; he offers a suite of skills that elevate home improvement businesses to new levels. His extensive expertise in in-home selling and leading both small and large sales teams ensures that contractors working with him are well-equipped for success. In addition to leadership, Nick brings a powerful range of marketing and technology tools to the table. He educates contractors on building optimized websites with strong SEO to enhance their visibility online. His strategies go even further, helping contractors implement automated workflows that respond to new inbound leads instantly—because Nick knows that "Speed to Lead" is the game-changer in marketing.
Beyond financing, Nick excels in building landing pages that leverage Google and social media ads to drive call-to-actions and generate fresh leads. His comprehensive approach to business growth means that any home improvement company that partners with him doesn’t just get a financial advisor—they gain full access to a wealth of resources, tools, and insights that are invaluable to scaling their business. Nick Ross isn’t just a leader in the home improvement space—he’s a catalyst for success, helping businesses thrive from the inside out.
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