Picture this: you’re about to close a deal with a homeowner who needs your services. It’s a big job, and the best way to move forward is to offer financing as a payment solution.
Suddenly, they don’t qualify. Maybe this won’t work out after all.
Fortunately, there’s another option. At Hearth, we provide second-look financing to help home services professionals work with more customers, close deals, and get paid.
Ready to learn more? Book a demo with Hearth today.
What Is Second-Look Financing?
Second-look financing allows for those who don’t qualify for traditional financing due to poor credit history get the funding they need. This subprime lending option, also known as second-chance financing, balances the risk factor of the customer’s less-than-ideal credit by offering high interest rate loans. These are often the last resort for customers with no credit, who are also known as credit invisibles.
Second-look financing approaches the customer’s creditworthiness with a more holistic view than traditional financing. A “no” can turn into a “yes” with more insight into a credit invisible’s cash flow. Because these customers are often turned away due to their financial situation, credit invisibles represent an untapped market. Put simply, Hearth’s second-look financing gives your company the ability to work with the customers your competitors can’t.
What Are the Benefits of Second-Look Financing?
When finances get in the way of a job, both the customer and the business suffer. Traditional financing methods address the sticker shock that some customers may experience when they see how much a bigger job will cost, but when that’s not an option, Hearth’s second-look financing opens the door to funding solutions that work for both sides.
The benefits of using Hearth for second-look financing include:
- Work with more customers: By offering second-look financing through Hearth, you empower your potential customers with more borrowing options, and they are more likely to qualify for financing to fund the larger jobs they can’t afford otherwise.
- Improve customers’ financial standing: Second-look financing is an opportunity for your customers to rebuild their credit history, setting them up for a future with more financial stability and spending power.
- Nurture a long-term customer relationship: With Hearth, you can offer a solution for your customers in a way no one else can. Second-look financing helps establish trust and can even improve client retention and loyalty.
Second-Look Financing Benefits Your Business & Your Customers
Don’t let poor credit get in the way of booking jobs. By offering second-look financing with Hearth, your business can connect with even more customers and support them when they need you most.
Ready to turn that “no” into a “yes” and book more jobs? Reach out to Hearth to learn more about how second-look financing can transform your business. Sign up or request a personalized demo today.
