When you’re a contractor, one of the biggest challenges that you encounter is helping customers figure out how to pay for the services that you know they need. Whether it’s repairing their home or fixtures after serious storm damage or looking at ways to add upgrades to their current property, in order to complete the project many property owners will need some sort of building project financing. When you wonder why some businesses are really raking in the projects while others are struggling to get smaller jobs, contractor financing could be the differentiating factor. Larger Tickets = More ProfitWorking with homeowners can provide you and your team with solid profits, but the margins can be slimmer than you would like. One of the ways you can combat the rising costs of home improvement projects and the low amount that buyers are willing to pay is by offering contractor financing for a portion or all of the project cost. When you’re offering contractor financing, instead of looking at the overall cost of the project, you can instead offer a glimpse of the monthly payment
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