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Financing Available

This post has nothing to do with marketing, but everything to do with the future success of your business. In fact, these two little words, which you never had to worry about in the past, can mean the difference between making payroll or going bust, that’s how important they are in today’s economic climate.

The past is behind us

No other industry benefited more from the housing boom and free-money loans available to homeowners than the construction industry. People had massive amounts of equity in their homes and used them like ATM machines for vacations, cars, colleges and yes, home improvements.

But then the economy went to hell in a hand basket…

Now, people are ecstatic if they can make their mortgage payments much less pull out more cash. But if you are a smart contractor (and I know you are that’s why you are here) then you know homeowners have put off repairs for some time now and they will NEED to start doing some renovation projects soon!

Problem is the bank is closed!

All the home equity lines of credit have been called in and the credit cards are maxed out, so how do your prospects get the cash they need to hire you?

Financing Available to the rescue

If you leave this part of the construction process up to the home owner to figure out on their own, then you are missing a huge opportunity. Think about it, two proposals, similar in scope and pricing, but one offers assistance in finding a lender and the other doesn’t. Who do you think gets the business if the prospect needs a financing?

Building bank relationships now can have an evergreen effect

Imagine a banker sitting with Mr. and Mrs. Smith who are applying for a home equity loan. They want to do some much-needed repairs before the house starts falling down around their ears. Now, Mr. and Mrs. Smith have no idea where to start when it comes to finding a reputable contractor and they ask Mr. Banker for a recommendation.

Now imagine for a second you have given Mr. Banker 2 or 3 deals to work on over the last couple of weeks, who do you think Mr. Banker is going to suggest to the Smiths?

Win/Win right? Well it gets better!

I know finding financing isn’t part of your core business, but added another trust factor and a reason to do business with you versus your competition is a great way to land new business as the economy recovers.

So, do you already offer financing assistance? Are you planning on offering it soon? Tell me what your thoughts are and how it can help improve your business.