Local weatherization programs gear up to help homeowners finance energy-efficient upgrades. More
Growth in FHA 203(k) renovation loan program points to new potential growth outlet for remodelers, though on a smaller scale. More
The ARRA is encouraging more banks to participate in quick-turnaround SBA lending programs, but many banks still aren't biting. More
As lenders cut back the funds available to homeowners and businesses alike, remodelers embrace a new fiscal vigilanteism. More
How the credit crunch has affected the way home improvement companies do business More
As property values fall nationwide and lenders put more scrutiny on borrowers, more of your customers may get turned down for financing from first-tier lenders such as Wells Fargo or Bank of America. But that doesn't have to put them out of the game. Second-tier, or “subprime,” lenders specialize in loaning money to people who first-line lenders reject. A relationship with one or more of these companies, along with a system for managing the sales team and the homeowners, can often save the sale. More
The remodeling business is largely a service business: The companies that give customers the best service tend to get the best referrals. But to deliver truly superlative service, you've got to have all the cards — and in today's competitive market your trump card may be the ability to arrange financing. More
Does offering financing make a remodeler into a mortgage broker or a bank? Is there any investment risk? Lenders and remodelers answer these and other questions that are commonly asked by contractors contemplating offering financing. The list is not comprehensive, but it covers the essentials of what to expect when adding a financing option to your business. More
