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Consumer Financing Lightens the Financial Management Load for Home Improvement Professionals

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Consumer Financing Lightens the Financial Management Load for Home Improvement Professionals

January 13, 2022

From balancing projects and schedules to making sure invoices are paid on time, you have a lot on your plate as a home improvement professional. Consumer financing is a solution that not only benefits your customers, but also helps lighten your managerial load. Offering financing solutions to your customers includes benefits for your business, like:

  • Full payment upfront once service is complete
  • Completely managed finance processes after the point of sale
  • Increased cash flow and optimize approval rates  
  • A dedicated account manager from a financer  
  • Resources to help you market financing to your customers 

Photo: courtesy gpointstudio | stock.adobe.com

Financing can help drive sales while taking the worry out of handling the finances for your business, providing a win-win for your clients and bottom line.

Full payment upfront once service is complete

Even if a customer is paying in installments, many consumer financing options pay home improvement professionals upfront. You receive the total invoice amount, even as your customers pay in more modest-sized sums. This flexibility gives you the best of both worlds: your customers get the convenience and flexibility of installment payments while improving your cash flow. Some finance providers provide full payment within 24-48 hours after selling the product or providing the service.

Customized and tailored point-of-sale (PoS) 

Some home improvement professionals worry about how financing might affect the point of sale and may be a hurdle for customers and sales. The opposite is actually true. It can transform the financing experience from the first click. 

Consumer financing providers such as Ally Lending provide a user-friendly, agile platform that integrates into your point of sale. Customers view installment payment options at checkout. This flexibility gives them additional purchasing power through budget-friendly choices. 

Totally managed finance processes after PoS and lower risk

When you elect to make financing part of your home improvement portfolio, you also get the support of an expert sales force to manage the process for you after the sale is completed. The lender handles all of the payment needs, allowing home improvement professionals to focus on the work they need to get done and not spend time chasing payments.

Providers like Ally Lending connect you with a dedicated account manager and support team that fits your business. Additionally, these providers handle any questions your customers may have while providing sales and marketing materials for your business and prospective customers. These teams give you a built-in financing operation, so you save time and effort developing and managing in-house financing products, reducing your risk.

Photo: courtesy Dragonimages | stock.adobe.com

Increase cash flow and customer approvals

Customers often have a budget in mind or need bite-size payment choices to make home improvement projects a reality. By providing flexibility with comprehensive financing solutions, you can convert customers and help more people to tackle their home improvement plans.

Lenders design a custom installment loan product that allows customers to stick to their budget with personalized payment plans. Even better? As we’ve seen in other markets, offering PoS lending options can increase sales. 

An all-in-one solution

If you’re looking to grow your home improvement business, consumer financing can be an integrated approach that improves many aspects of your sales process. Explore simple options like those from Ally Lending

Packaged with convenience, consumer financing gives your business a competitive advantage that translates to your customers as well. Your clients make streamlined and digestible payments while you are paid by a financer that deals with everything. 

It’s money management simplified for you and your prospective customers. With consumer financing in your back pocket, you can focus on building projects that exceed your customer’s ambitions but not their budgets.

All loans are unsecured personal loans originated by Ally Bank, Member FDIC.  Subject to credit review and approval.

written by

Ally Lending

We’re fluent in financing. You’re fluent in your industry. Together we get more customers. We provide home improvement financing solutions that give your customers the option to pay over time, while you get paid up front.

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