Affording a roof replacement or repairs can be a significant source of stress for homeowners, but access to roofing financing options can decrease this financial stress and put major projects within reach. Even homeowners who have an insurance claim can take advantage of financing to offset the difference between the insurance payout and the cost of a larger repair. By offering financing to your customers as a roofing contractor, you can cut out the middleman, deliver stronger customer service, and close more jobs.
To help your business more easily provide roofing financing, AccuLynx has created AccuFi, a simple financing service that allows you to offer multiple competitive loan options right from the job estimate. Here’s what you need to know about financing services like AccuFi—and how they can help your roofing business grow.
What is roofing financing?
Roofing financing is a way for consumers to borrow money to cover the cost of a roof replacement or repair. When homeowners apply for financing, they receive a personal loan for a lump sum that they can use to pay for the roofing project. Both traditional banks and online lenders offer these types of financing services.
In order to provide customers with financing options, some roofing companies apply with financial institutions to become authorized lenders—but smaller and newer businesses often have their applications declined. Other roofing companies direct their customers to apply for financing independently with a third party, which can be a complex process and leave the contractor in the dark about the status of the application. With AccuFi, you can offer financing right from the same system you already use to manage your business, and all it takes is a simple setup process for you to become an authorized AccuFi user. You can track your customers’ financing applications within AccuLynx and get notified as soon as they are approved, so you’ll always know the status of their loans. And AccuFi is backed by Acorn Financing, a leader in the personal financing marketplace, so you can trust that your customers are getting the best rates possible.
How does roofing financing work?
To receive roofing financing, a homeowner first reviews available loan options, then selects one and submits an application. If the application is accepted, the homeowner will receive a lump sum toward the cost of the roofing project. With roofing financing, the homeowner can pay for the repairs over time rather than provide the full cost upfront.
AccuFi makes it as simple as possible for your customers to apply for roofing financing. By clicking on a link in their roofing estimate, homeowners can review multiple competitive loan offers on a page and easily compare them to select the one that works best for them. The application process is fast, easy, and has no impact on their credit scores. Homeowners can expect to receive funds in 1 to 2 business days after their application is accepted, so they can quickly pay for roofing work.
How can roofing financing help you be more successful?
Offering roofing financing helps ensure that homeowners can afford the cost of your roofing services, reducing price objections. Roofing companies that provide financing improve their customer satisfaction by delivering a service that is in high demand. Financing also eliminates cost-related delays and helps you get paid on time for your roofing work.
With AccuFi, you can see the benefits of financing without additional cost or extra paperwork for your staff to manage. AccuFi’s infrastructure takes care of the financing details. So your business can focus on what matters: closing more sales and ensuring your customers get the services they need. The financing process is streamlined from start to finish for both you and your customers, so your work can progress smoothly and your business can continue to grow.
In addition, it’s easy to take advantage of the other tools in AccuLynx to gain further benefits from the financing process. For instance, you could set up an email in AccuLynx that automatically sends your customers a message as soon as their loan is accepted, asking them how the process went and confirming that they are ready to start work. Or you could build estimating templates for each type of job that include an AccuFi link, so your sales reps are ready to offer financing on any job. AccuFi is more than just a simple way to offer roofing financing—it’s part of a fully integrated network of tools designed to help your roofing business succeed.
Ease the homeowners’ financial burden by offering financing
Roofing jobs can get expensive, whether it’s a simple repair or a more complex replacement. In uncertain economic times, the financial pressure of a roofing job increases significantly. By offering roofing financing with AccuFi, you not only make your roofing service more affordable but gain a competitive advantage.
Interested in learning more about how AccuLynx and AccuFi can help you win more jobs? Schedule a custom demo today.