When the pandemic rolled in during the first quarter of 2020, no one could have predicted the rapid shift to eCommerce as an era of social distancing emerged. And when unemployment numbers began to rise, who knew the consumer’s share of wallet would shrink so quickly? Many home improvement dealers were scratching their heads asking: …
Although a credit application is one of the most important steps in getting financing for a home improvement project, it’s actually one of the easiest to complete. A credit application is a standardized form used to request credit from a lender like Foundation Finance. The form includes basic questions such as the amount of credit …
Foundation Finance Company’s financing portfolio is extensive, including installment loans, revolving credit, same-as-cash plans, deferred payment plans, prime, near-prime and subprime approvals. For contractors whose specialty is home improvements, understanding the details of a financing program may be a bit outside their comfort zone. But once you join Foundation Finance’s dealer network, a breadth of …
If you’re losing a sale because your customer’s home improvement financing was denied by a prime lender, a second look can give your business the opportunity to win the sale and gain a happy customer. Second look financing, also called discount financing, offers a chance at a credit approval for a potential customer declined elsewhere. …
Offering a promotion is a tried-and-true way to attract customers and close sales. For home improvement contractors, point of sale financing promotions are a competitive advantage, especially amidst ongoing COVID-19 worries. If you’re not already offering same-as-cash or deferred payment financing, you’re missing out on a big opportunity for growth. Why are these financing promotions so …
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With the coronavirus steadily marching on, digital and remote sales tools are gaining greater appeal and, frankly, becoming a necessity. Keeping your employees and your customers safe and socially distanced has become a competitive component to growing your business. As the desire for point-of-sale financing increases along with a rising home remodeling trend, using digital …
In a nutshell: just ask. Business relationships with customers have changed since the quarantine guidelines of the pandemic, but that doesn’t mean you should stop communicating with your largest referral resource. Whether you’ve completed a major renovation or a quick repair, asking for a referral when the work is done should be as automatic as …
The consumer demand for home improvements has held strong during the pandemic. As homeowners spend more time at home, they’re realizing the positive advantage renovations can have on their stay-at-home lifestyles. Financing has become a critical component of the customer sales journey. It not only helps the consumer in tough economic times, it also helps …
There are many reasons to include a financing option in your sales plan and they all benefit both you and your customer. A win win! Businesses can boost sales and increase average project sizes; customers can afford dream renovations with affordable payments. How much does it cost? That’s the number one question on the minds …
Whether you’re a larger home improvement dealer or a smaller contractor, emails can relay more than a message, they can build relationships and your book of business. Email marketing has always been important…but it has quickly become the go-to tool to communicate fast and effectively with your customer base. If you’re not already communicating with …
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