Hearth is a data-driven company. We make decisions based on what trends and changes we see in our industry. It’s important for any business’ growth to understand how data can help you predict or anticipate future needs or areas of opportunity. Here are some numbers associated with Hearth on ways we help businesses grow.
0
Zero dealer fees are what you can expect when you’re offering financing for your customers’ home improvement projects with Hearth. Other lending structures can involved dealer fees that cut into your profits and inflate your prices. Zero dealer fees helps you close more deals and keep your pricing competitive.
Zero is also the effect checking your customers’ financing options with Hearth will have on their credit scores. Hard pulls on credit can influence a customers’ decision to seek financing options. However, Hearth’s lending partners protect your process by using soft pulls on credit to give your customers options.
21
Hearth offers several levels of membership. Our Elite plan members have seen an average of 21X return on their investment with Hearth. That means that for every dollar spent on a Hearth membership, businesses can earn up to 21 dollars back in jobs won using Hearth to offer monthly payments for home improvement projects.*
30%
Contractors who offer financing can see up to 30% increases in their ticket sizes. Offering monthly payments reduces the immediate impact a project can have on a family’s finances. This means that they have room to dream bigger when they understand their buying power with Hearth’s lending partners.**
17%
Sales pitches that include monthly payment options for home improvement projects can see a 17% increase in close rates. An increased close rate means more jobs for your teams, increased revenue, and the ability to grow your business.**
550
Hearth’s lending partners can work with FICO scores as low as 550. Some lending partners will only pre-qualify clients with premium FICO scores. However, our lending partners can offer options to a wider range of credit scores.
1
When you’re a Hearth member, your customers only need to fill out one pre-qualification application to receive offers from up to 14 lenders. This gives your customers an idea of how much of their projects they can finance.
14
We currently have 14 lending partners that can offer monthly payment options to your customers. These lending partners vary in the rates, terms, and conditions they will offer your customers. All of them make decisions based on past credit history and income.
250,000
Hearth’s lending partners can offer customers loans between $1,000-$250,000. Your customers can choose as little or as much financing as they need to complete their projects.
Schedule a demo today to take control of your business, protect your bottom line, and close more deals.
*Based on internal Hearth data, 2021
**Based on Hearth customer survey, 2020
