How many of you offer financing

Discussion in 'Business Operations' started by newleaflandscape, Dec 21, 2003.

  1. newleaflandscape

    newleaflandscape LawnSite Senior Member
    Messages: 348

    Just wondering how many of you guys are offering financing now. Wondered who you use and what kind of rates you can get for your customers. Thinking of jumping into that to provide a conveniance to some of my customers. Any other thoughts would be appreciated as well.
  2. olderthandirt

    olderthandirt LawnSite Platinum Member
    from here
    Messages: 4,899

    I had a guy ask if I took visa cards and I told him yes, and I'll give it back as soon as he paid me! I don't know if it would be worth it, the banks have a hard enough time with collecting from deadbeats. Its not worth opening that can of worms for me.
    But if you do it keep everyone posted it could be interesting.

  3. tiedeman

    tiedeman LawnSite Fanatic
    from earth
    Messages: 8,745

    I consider my finanical program as: pay by the dute date or you will be charged.
  4. Hawkeye5

    Hawkeye5 LawnSite Senior Member
    Messages: 295

    The bank is not in the lawn business and I'm not in the banking business. No way, no how will I finance. The monthly invoice is mailed on the 1st payment due by the 15th.
  5. Old Red

    Old Red LawnSite Member
    Messages: 187

    The local New Holland dealer isn't a bank but they sure are happy to provide financing. You might be able to work out something with your bank; like you sell their financing maybe. Interesting idea.
  6. newleaflandscape

    newleaflandscape LawnSite Senior Member
    Messages: 348

    Thats what I am talking about hooking the customer up with a bank for financing, but I would like to find one place to put all my customers through.
  7. impactlandscaping

    impactlandscaping LawnSite Silver Member
    Messages: 2,332

    We use our bank, send the customer to them, and the bank takes care of the rest. If they need a loan, the bank will take care of it WAC, of course. The other thing our bank does for us is to set up automatic debits to clients checking / savings /owner -builder loan accounts.This way , they are committed to paying X $'s on X day each month automatically.No more sob stories about, "I forgot", "lost the invoice", etc..If they bounce a payment, the bank has a vested interest, and WILL collect.JMO....
  8. newleaflandscape

    newleaflandscape LawnSite Senior Member
    Messages: 348

    That sounds pretty cool. I have been going though options with my bank, but wondered if there is any institutions out there specificly for landscape financing. I heard John Deere is in the mist of somthing along those lines for Landscape Contractors.

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