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Does anyone offer financing for larger projects?

Discussion in 'Hardscaping' started by MJK, Jan 7, 2013.

  1. MJK

    MJK LawnSite Senior Member
    Posts: 356

    I was looking into offering financing for larger projects to help sell more without dealing with stages or sticker shock.

    Does anyone off this or have any experience in this? After looking around I found this program offered by wells fargo http://retailservices.wellsfargo.com/outdoor-solutions.html

    Any thoughts?
  2. Monroe74

    Monroe74 LawnSite Senior Member
    Posts: 322

    You could try sheffield and ge money. I believe they have plans for outdoor projects. You could speak with a loan officer at one of the national loan places and set up either short term loans or your own "store" card.

    I haven't had a whole lot of luck with it but things are starting to pick up.
  3. ToddH

    ToddH LawnSite Silver Member
    Posts: 2,184

    JDL offered a program and I forgot who under wrote it. I think it was WellsFargo. Then WF basically turned it to the HELOC and JDL dropped it. I could be completely wrong but the last time I looked was 5 years ago.
  4. DVS Hardscaper

    DVS Hardscaper LawnSite Fanatic
    Posts: 6,417

    it always seemed to be more trouble than it's worth.

    JD L-scapes charged the contractor a hefty percentage, which the contractor had to bake into the job cost to break even. and there was a delay in getting payment. just another thing to have to manage. not worth it.

    its easier for me to simply accept Visa, M-Card, AmEx, and Discover.
  5. ToddH

    ToddH LawnSite Silver Member
    Posts: 2,184

    In addition the discount for other options was prohibited.

    All those same as cash deals offered by companys come at a cost to the seller.
  6. PaperCutter

    PaperCutter LawnSite Bronze Member
    Posts: 1,942

    I worked at a company that offered financing (I think it was through GE, but not sure). Anyhow, none of the other 20+ designers nor I ever sold someone on it. What I found was people either had the money through home equity, reward credit cards, or cash savings - or they didn't buy. Seems like tying up time designing and estimating for someone hoping to get a retail loan to pay for everything wouldn't be the best use of resources.
  7. jbailey52

    jbailey52 LawnSite Bronze Member
    Posts: 1,078

    I know ep Henry does financing (not sure if it is actually through them or through another financing house) but I also looked into it but it seemed like to much of a hassle.

    I do love when a customer asks if I can finance them. I'll pay you some now, then spread out payments over a year......
  8. alldayrj

    alldayrj LawnSite Gold Member
    Posts: 3,770

    I actually let a pastor pay me monthly. The job started at 5500. He was going to pay me 4500 then 500 two months. Addons changes etc and the job ends up costing $10k. Did the brick in february, sod in april, and got the last check last week with a nice thank you note. Starting designs on their patio soon but i told them no payments.

    Don't know if i will ever do it again but it all went off without a hitch.
    Posted via Mobile Device
  9. ToddH

    ToddH LawnSite Silver Member
    Posts: 2,184

    I would dare say with proper documents and client research that short home improvement loans by the contractor can be good money. You would have to have some serious horse power of the type I am no where near.
  10. DVS Hardscaper

    DVS Hardscaper LawnSite Fanatic
    Posts: 6,417

    I would never offer in house financing for something I can cant come reposess
    Posted via Mobile Device

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