What is a Home Service Finance Company and How Can it Benefit Your Business?
Published April 21, 2025
What is a Home Service Finance Company and How Can it Benefit Your Business?
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A home service finance company can be the answer for helping you scale your small business. Consider how many times you have lost a sale to a customer with price objections to the work they need you to perform. Whether it’s a repair job, brand new installation work, or other types of home improvement projects that require the skilled labor services you provide, customers typically don’t have the cash available for hiring a contractor for big-ticket jobs.
In most cases, a customer isn’t anticipating a major out-of-pocket expense that might come with a broken water heater, a leaky roof, or a faulty compressor. They can’t afford to have the work done because they haven’t accounted for that cost in the monthly budget and so they have to put off the work to another time. Maybe it’s next week, maybe it’s six months from now. That’s if the customer even comes back to your business when he or she has the resources available, it’s very possible the customer never returns to hire you and your team.
A home service finance company can be an essential ally for helping you avoid the price objections and pain points for clients who don’t have the resources to hire your business, so you can generate more revenue, reach your sales projections on new jobs, and keep your business on the fast track to growth.
That home service finance company is Fund My Contract. We have been working with home service contractors from all fields and industries to develop financing programs that cater to their customers’ needs by giving them options when it comes to paying for all kinds of home service projects.
The Right Financing Solutions for Your Business Needs
Home improvement contractors enrolled with Fund My Contract have access to our network of third party lender entities who work to develop a range of financing solutions designed to help give customers access to the funds they need to get those home improvement repairs and replacement jobs completed.
It’s all about affordability. Although your business offers some of the most competitive rates in your region, customers remain stymied by the costs related to the work they need when the bill must be paid in one lump sum. But when you can start offering financing plans to your clients, it allows them to say yes to the job much more readily by putting them at ease where their finances are concerned.
Even better, you can offer a range of flexible payment options that work for everyone in your customer base. Some customers may want a financing solution with flexible payment options, allowing them to pay for your services over time on a monthly basis with installements that can fit in with anyone’s monthly budget parameters.
Some customers enjoy having more time for reimbursement. You can offer financing options that provide that exact benefit, allowing your clients more flexibility in the terms of the financing agreement. This helps customers feel at ease about covering the costs over time and even increases their spending power by allowing them to purchase more products and deluxe services that your business provides.
You can even give your customers access to promotional interest rates that are available for a limited time only. A lower interest rate can be very appealing to many of your clients who want to make the costs of your goods and services even more affordable. These financing options are available through our network of eager third party lenders for customers who qualify to access these programs.
Easy Approvals Keep Your Business Growth on Track
Perhaps the most advantageous aspect of working with a home services financing company like Fund My Contract is just how quickly your customer can be approved for the funds he or she requires for moving forward on a big home improvement project. Our online application can help you determine which programs your customer is eligible to access and approvals can take minutes, not hours or days like other traditional financial institutions such as banks and credit unions.
Customers who try to take out home equity loans, personal loans, or other forms of financing can be waiting for weeks, if not months, as they fill out cumbersome applications and endure lengthy approval processes that keep everyone waiting, including the customer and your business.
Fund My Contract makes it easy for your customers to say yes to hiring your services with a streamlined application program that requests only basic information from the customer and places less of a direct emphasis on factors such as credit score and credit history in getting them approved. Additional factors such as debt to income ratio, employment history, and loan amount necessary to pay for the work all play important roles in the approval process.
Customers Finance Purchases with Peace of Mind
When you give your customers financing options you are increasing their spending power which allows them to not just spend more with each project but it gives them the confidence to continue working with your business on future jobs. Turning a potential customer into a repeat customer is one of the cornerstones of any successful enterprise. Loyalty is earned, it’s not given freely, and when your business provides top quality services at competitive prices and offers financing programs that meet and even exceed the customer’s expectations, you are positioning your business to become a trusted service provider in a highly competitive marketplace.
Working with Fund My Contract can increase customer satisfaction which drives more sales because it gives the customer more control over his or her finances when that unexpected repair job comes around and the customer is a little short on funds. Providing excellent customer service gives your business that competitive edge over the other contractors in your area who may not offer financing and continue to force their clients to pay in full at the time of the transaction.
Meet Your Business Needs and Receive Payment in Full
You may soon find their clients becoming your clients as word gets round that you confidently offer financing options that give customers more flexibility to pay for expensive contracting work. Best of all, your business doesn’t wait to get paid. When a customer is approved for one of your financing options, the funds are deposited into the customer’s account in as little as one business day, and when you have performed the work, you receive those funds when the bill is due. The customer is still paying over a series of installments, but your business gets the full amount all at once.
Fund My Contract programs are “closed-loop” financing, which means that the funds your customer receives can only be used with your business. That money cannot be applied to a purchase with any other business or retailer. So if the project falls through for any reason, the financing is null and void and the agreement canceled.
Are You Ready to Offer Financing Options and Improve Customer Satisfaction?
Why wait to succeed? Your business can start improving sales and increasing customer satisfaction today with Fund My Contract.
Give us a call, speak to one of our dedicated home service financing experts to learn more about becoming a member, working with our network of third party lenders, and developing the financing options that fit your clients best. We are ready to help scale your business today.
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