Consumer Contract Financing for the Home Improvement Industry
*The Home Improvement Program has been suspended due to lack of participation*
If you are a contractor, licensed residential builder, specialty contractor or "handyman" involved in the home improvement or home renovation industry you know that if you can not provided financing to the sub-prime consumer, as well as the home-owner with stellar credit, you will be leaving money on the table and giving your competition a great advantage over you. By sub-prime consumer, I am referring to those home owners with credit scores under 700, and there are a great many home owners with credit scores under 700 who would be interested in your services if only they could qualify for the financing to enable them to acquire your product and/or service.
Access Funding Center, Inc. provides a consulting service relevant to consumer contract financing (consumer receivable financing) which means we can help you to find finances for construction factoring or home improvement financing needs. Along with your product or service you are really selling an affordable monthly payment. In order to achieve an affordable monthly payment you will need contract terms of one to two years and in some instances three or even four year terms. The problem is that for cash flow reasons you don't want to be slowly receiving small monthly payments for three or four years, or even for one or two years. Smart home improvement contractors understand that they need their cash now rather than later. For this reason many builders or construction contractors would prefer to "cash out" or sell their consumer constructiion receivables (home improvement contracts) upon the completion the job.
*The Home Improvement Program has been suspended due to lack of participation*
If you are a contractor, licensed residential builder, specialty contractor or "handyman" involved in the home improvement or home renovation industry you know that if you can not provided financing to the sub-prime consumer, as well as the home-owner with stellar credit, you will be leaving money on the table and giving your competition a great advantage over you. By sub-prime consumer, I am referring to those home owners with credit scores under 700, and there are a great many home owners with credit scores under 700 who would be interested in your services if only they could qualify for the financing to enable them to acquire your product and/or service.
Access Funding Center, Inc. provides a consulting service relevant to consumer contract financing (consumer receivable financing) which means we can help you to find finances for construction factoring or home improvement financing needs. Along with your product or service you are really selling an affordable monthly payment. In order to achieve an affordable monthly payment you will need contract terms of one to two years and in some instances three or even four year terms. The problem is that for cash flow reasons you don't want to be slowly receiving small monthly payments for three or four years, or even for one or two years. Smart home improvement contractors understand that they need their cash now rather than later. For this reason many builders or construction contractors would prefer to "cash out" or sell their consumer constructiion receivables (home improvement contracts) upon the completion the job.
The advantages of selling, or factoring, your home improvement receivables (retail installment contracts, consumer notes, etc.) is to receive payment for your services now rather than later and thus position yourself to enhance your profitability. Some of the benefits of cashing out your construction installment contracts (consumer home improvement notes) and thus enhancing your cash flow position are as follow:
1.Elimination of bad debt
2.Take advantage of early payment and volume discounts
3.No loss of equity
4.You don't incur debt because you are not borrowing
5.You can leverage off your customers' credit
6.Detailed reports from the funding source
7.You have more time to market and expand your business
8.Early detection of customer service problems
9.Credit screening 10.Credit monitoring
Consumer construction financing (consumer home improvement receivable financing, factoring on retail installment contracts, etc.) is available to, but not limited to the following types of home improvements/home renovations:
1 Low E windows and doors
2 Siding and Roofing
3 "High Tech" Insulation and Bathroom Renovations
4 Solar Panels
5 Low E Water Heaters
6 Steam Showers
7 Walk-In Bath Tubs
8 Bathroom Renovations
9 Kitchen Renovations
10 Low Energy HVAC Systems
For more detail, contact Access Funding Center, Inc. by phone at 864-981-0865 or by e-mail at [email protected]
1.Elimination of bad debt
2.Take advantage of early payment and volume discounts
3.No loss of equity
4.You don't incur debt because you are not borrowing
5.You can leverage off your customers' credit
6.Detailed reports from the funding source
7.You have more time to market and expand your business
8.Early detection of customer service problems
9.Credit screening 10.Credit monitoring
Consumer construction financing (consumer home improvement receivable financing, factoring on retail installment contracts, etc.) is available to, but not limited to the following types of home improvements/home renovations:
1 Low E windows and doors
2 Siding and Roofing
3 "High Tech" Insulation and Bathroom Renovations
4 Solar Panels
5 Low E Water Heaters
6 Steam Showers
7 Walk-In Bath Tubs
8 Bathroom Renovations
9 Kitchen Renovations
10 Low Energy HVAC Systems
For more detail, contact Access Funding Center, Inc. by phone at 864-981-0865 or by e-mail at [email protected]