Financing plans make it easy for customers to hire your services when they might otherwise hesitate because they can’t afford to pay in one lump sum, upfront. Providing options for how to pay for the electrical system work they need performed helps to make the work more affordable. When you work with Fund My Contract, we put you in touch with the most powerful and innovative network of third party lender services that work with contractors who want to grow their business and expand on their terms, not someone else’s.
Fund My Contract is the service finance company that helps offer your customers the financing solutions that give them access to the funding they need to hire your team of professional electricians for repairs and renovation work in their homes and businesses.
Make it Easy and Simple for your field service company to increase sales and grow revenue.
Fund My Contract is the fast, easy way to provide HVAC financing options to your customers
When you answer a service call in a customer’s home, diagnose the problem, and submit the estimate for the parts and labor, you hope that investment of time and resources translates into a paid job. But more often than not, customers don’t have available cash resources to cover the expenses of major repair jobs and they certainly can’t pay for the services in full at the time services are rendered.
That can leave you in a tough spot as a business owner. The customer needs the work performed but is unable to cover the costs related to the job due to affordability. Your business doesn’t generate any income from this service call and the customer goes without having his or her electrical system serviced by a top-quality contractor.
But when you work with a service finance company like Fund My Contract, you can present the customer with a variety of financing programs that make the costs more affordable because the customer doesn’t need to expend a significant level of resources to have the work done.
Those financing options can give your customer the opportunity to pay the bill in low monthly payments with flexible reimbursement terms and favorable, limited time interest rates for customers who qualify.
That helps your business grow by reducing the barriers to conversion for customers who can’t afford the cost of critical electrical work. When the payments are spread out over time, it’s easier to hire your business to provide the services you offer.
Customers want to have options when it comes to really just about everything. That includes their financing programs and when you work with Fund My Contract to provide those programs, the more choices you can provide, the better. That’s why our network of third party lenders can give your electrical business access to the most creative and effective financing programs on the market today.
The third party lender you choose to work with offers financing programs to your customers. When a customer selects the program he or she prefers, the lender funds the amount on behalf of the customers (upon approval) and your business receives payment in full for the services rendered. The customer is now making payments to the third party lender as reimbursement along with any interest or other payments, if applicable.
Another advantage of working with Fund My Contract is that we offer ‘closed loop financing’. When you provide your customers with financing options that meet their needs, your business should be the one that benefits, not somebody else’s. So we offer closed loop financing to ensure that only your business reaps the rewards. The way it works is simple – when your customer is approved for the money he or she needs to hire your business to complete a job, those funds can ONLY be used to hire your services to perform the work. Should the customer decide not to move forward with the job, the funding is not applicable to hiring any other contractors to perform that job. The financing agreement is canceled.
The goal, of course, is to generate more revenue to help you grow and expand your business. Customers with price objections who might consider “thinking about it” prior to hiring your services no longer have to navigate those barriers to conversion as your financing programs make the work easier to obtain because it’s more affordable when split up over low monthly payments.
Now is the time to call one of our financing experts to discuss how an electrical home service financing company like Fund My Contract can help you grow your business. Our network of third party lenders are ready to work with your business to devise simple yet robust financing programs that benefit the customer and your business for a win-win situation. Reach out today and let’s get to work on driving more customers and more revenue to your electrical home service company to keep it on a steady route to faster growth and expansion.
Fund My Contract is the fast, easy way to provide HVAC financing options to your customers