Consumer financing programs like same-as-cash financing or low monthly payment financing are commonplace in the retail world. Why? Because they help those businesses attract new customers and close sales. So why are some roofing contractors reluctant to offer financing?   In today’s interview, I dig into the ins and outs of offering customer financing and how to do it the right way.

What you’ll hear in this episode:

• Chris’ background in the Rhode Island family-owned bank
• When does a client need to go to the bank for a loan—What can you do?
• How Chris works with the homeowner and the roofing company to get the loan that’s needed
• The application and pre-qualification process
• Chris’ marketing department: What they can do for the roofing contractor
• How contractors are using the service and making it work
• Why the loan is based solely on credit scores and debt ratio with terms up to 20 years
• The type of loan: FHA Title I Loan
• There is NO “downside” for contractors
• How the loan works for non-owner-occupied homes and multi-family homes
• The nationwide federal program

Resources:

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Call Chris: 401-773-9948

Email Chris: [email protected]