There are a lot of things to consider when choosing which financing companies to work with and, truth be told, it’s not always easy to know what to look for. Should you focus on customer service? Benefits? Cost?
What works best for you and your customers isn’t necessarily what works best for a different contractor.
To figure out which companies are good contenders for your business, consider the following questions.
What is the maximum approval amount?
Each customer’s project and financial situation is different, so it can be tough to guess how much financing each customer may need. However, you should know the maximum each company offers so that you can plan accordingly.
Foundation Finance offers funding for projects ranging from $1,000 to $100,000.
What credit scores will they work with?
Your customers likely come from a large range of credit profiles and histories. If the company you’re considering working with has a narrow range of credit scores they approve, don’t worry. They may be a great fit for some of your customers. However, you should also look for a company that offers deep buying and second look financing so your other customers don’t get left behind.
Looking for approvals for customers with FICOs as low as 550? We can help!
Do they offer free interest rates? How do they compare to other rates?
Offering financing should benefit both you and your customers. Look for companies that offer free financing options so that you can maintain your profit margins and interest rates that fit your customers’ budget needs.
Offer free rates starting at just 11.9% with Foundation Finance.
How long are approval decisions valid?
Labor and material shortages can hinder even the most well-organized project. Consider how long your typical project takes to complete and consider that time frame when researching a potential financing partner.
Get approvals that stay valid for 180 days when you join our free dealer network.
Are there any hidden fees?
Some finance companies have hidden fees which can add up over time. Ask about volume requirements and other hidden fees before enrolling with a finance company.
FFC offers free interest rates for every customer and no volume requirements.
How many finance companies should you work with?
Each finance company is a little different, so it’s a good idea to have an active relationship with a few financing companies. This will ensure you can find the best rates and special promotions for a wide range of your customers’ needs.
We offer first and second look financing for customers with A-D credit.
Interested in other ways Foundation Finance can help you close your next sale?
Contact us for more info: 1-855-241-0024.
You can build on us.
Enroll in the Foundation Finance dealer network today.
For dealer use only. Not a consumer advertisement. All credit products are subject to credit approval. Rates, terms, conditions, and promotional programs may vary by dealer and are subject to change without notice.
