Why Contractors Choose Financing: Real Results From Real Projects

Contractors who use financing can boost their business by up to 20% and see better customer satisfaction scores.

Published on Aug 19, 2025

A shocking statistic shows that 56% of Americans don't have enough savings to cover a $1,000 emergency. This reality affects contractors who offer home renovation services because potential customers often can't afford to pay for projects upfront has become a great solution to this common challenge.

Research reveals that 62% of customers prefer having financing options for their projects. Contractors who use financing can boost their business by up to 20% and see better customer satisfaction scores. In this piece, we'll look at how financing works and its interest rates that range from 0% to 35.9% APR. We'll share real feedback from contractors who've successfully used this financing option. The standard 3-month 0% APR financing option through Contractor Accelerator appeals to customers, especially when you have a straightforward application process.

Why Financing Matters for Contractors

The numbers tell the story clearly: contractors who give financing options see their close rates jump by 30% and ticket sizes grow by 40% compared to those who don't [1]. These numbers show why financing has become vital in today's home improvement industry.

The growing need for flexible payment options

People now expect to have financing options everywhere they spend money [1]. So, 78% of consumers think about financing as a key factor in their spending decisions [2]. This change makes sense since 91% of cardholders say promotional financing helps them afford big purchases [2].

The numbers reveal something crucial: 30% of cardholders would have walked away or gone somewhere else if they couldn't get financing [2]. This shows why contractors should add financing to their business toolkit. How financing affects customer decisions.

Customers are more likely to go ahead with projects when they can spread out their payments. Instead of paying $10,000-$15,000 upfront for an HVAC system, they feel "relieved" to pay $99 monthly [3].

Financing removes the biggest roadblock to home improvements - budget limits [1]. With financing, homeowners can:

Pick higher-quality materials and fixtures
Get detailed solutions instead of quick fixes
Add valuable upgrades they'd usually put off [1]

Customers who use financing tend to add accessories and system upgrades, which makes projects worth more [3].

The risks of not offering financing

Contractors without financing options face big business risks. Whatever their quality, experience, or reputation, they often lose work to competitors who let customers pay flexibly [1]. Without payment options, many homeowners just wait until they save enough money [4].

The construction industry often runs short on working capital [5]. Solutions like financing help alleviate this problem while bringing in more customers and boosting sales potential.

Simple application process for customers

Financing application processes prioritizes convenience. Customers can complete their applications on their phones in less than a minute [6]. The platform shows all available options instantly without impacting credit scores since it runs only a soft credit check [6]. Contractors can simply text or email their customers a job-specific link [7]. The platform achieves an impressive 80%+ approval rate, and 70% of approved customers choose financing through it [7].

No hidden fees or deferred interest

Many financing options bury costs in fine print, but this financing maintains transparency. Customers never face prepayment penalties, origination fees, late fees, or compounding interest [8]. This clear approach helps customers see their exact payment amounts from day one [6]. The transparency builds trust between customers and contractors, which reflects well on your business.

Flat-rate pricing and 0% APR options

Every financing plan has a 3-month 0% APR option for qualified customers [9]. Contractors can sign up for extended interest-free periods of 6, 12, or 24 months [9]. These rates are true 0% interest—not deferred interest plans that might surprise customers with accumulated charges later [10]. The standard 3.9% transaction fee applies to merchants, with higher fees only for extended 0% options [9].

Financing interest rates and terms explained

The platform provides flexible terms from 3 to 60 months [6]. Rates range from 0% to 35.9% APR based on credit scores [6]. Financing amounts begin at $500 and reach $25,000 [7], making it suitable for projects of all sizes. A $1,200 purchase could cost $104.89 monthly for 12 months at 8.9% APR, or $400 monthly for 3 months at 0% APR [7].

Real Results from Real Projects

The value of financing shines through the experiences of contractors who use it daily. Let's get into how businesses are reshaping their operations and results with this payment solution.

Case study: Deese Elite Concrete Coatings

Ashly Deese, COO of Florida-based Deese Elite Concrete Coatings, couldn't find a financing partner she trusted until she came across Wisetack [3]. Another local business's recommendations led her to make Wisetack their exclusive financing provider [3]. The genuine support from day one and consumer-friendly options made her confident she wasn't "ripping customers off" [3]. Wisetack's smooth integration with their Builder Prime CRM platform helped them offer financing without disrupting their usual workflow [3].

Increased job approvals and customer satisfaction

Numbers paint a clear picture of financing effects on businesses. Jobs with financing are 4.5 times larger than other jobs [7]. This significant difference boosts revenue directly. On top of that, 88% of financing customers felt "happy and relieved" about having this financing option [7]. Such positive feedback creates strong foundations for referrals and repeat business.

How financing helped close more deals

The results speak for themselves - 87% of businesses won jobs just because they offered monthly payments through financing [7]. Companies see about 20% more approvals when they provide longer 0% APR plans [11]. Customers tend to borrow more with 0% APR options, which makes average job size grow by about 30% [11]. One contractor landed a $16,000 job simply because they had financing [2].

Financing reviews from contractors

Contractors consistently praise financing:

"By far the best financing company I've used for my customers. Integrated into my CRM and makes for ease of use." - Dean McManus, Action Steam Cleaning LLC [2]
"I love Wisetack! My customers call me back and say they have the best customer service." - Christian Escobar, Escobar Premier Dental [2]
"Wisetack has helped me close multiple jobs where the customer could not afford to pay upfront." - Lindsey Baker, Local Guy AC [2]

These ground results show why contractors make Wisetack their go-to financing solution.

How Contractors Use financing in Daily Operations

Financing integration into your contracting business needs minimal effort and delivers substantial returns. Contractors who use these practical tools see their customers spending 30% more per transaction [12].

Prequalifying customers via text or email

The prequalification process shows customers their purchasing power instantly without affecting their credit score [13]. Your customer receives a prequalification link through text message or email and completes a short application on their mobile device [14]. An email notification will show their prequalified amount once approved [12]. This financial conversation builds confidence early, and customers who prequalify are 26% more likely to proceed with projects [12].

Embedding financing in bids and proposals

Financing blends directly into your proposals. Several platforms let you embed financing options within digital bids [15]. Customers see "as low as" throughout the bidding process that make large projects more manageable monthly payment amounts [1]. The system shows exact payment amounts based on terms when the bid finalizes [1]. This transparency gives customers the ability to make confident decisions without separate financial conversations.

Tracking loan status through the dashboard

The financing merchant portal helps you monitor financing applications during project execution [4]. The dashboard shows detailed status updates including "Prequalified," "Prequal declined," "Action required," "Offer locked," "Confirmed," and "Paid" [4]. You can follow up with customers based on their current status and improve close rates with this visibility.

Marketing 0% APR options effectively

Zero APR options create powerful selling opportunities when promoted prominently. Standard financing approval has 3-month interest-free financing [1], and many contractors provide extended plans up to 24 months [16]. Market these options effectively by:

Highlighting "0% APR financing available" on your website homepage [17]
Adding financing information to your Google Business Profile [17]
Emphasizing that this financing truly charges zero interest, unlike deferred interest plans [18]

This transparent approach builds trust and boosts your close rates.

Conclusion

Financing gives contractors a powerful tool to stimulate their business and solve their customers' payment challenges. Large upfront payments create problems for most Americans, making flexible payment options essential in today's market. The results are clear - contractors see higher close rates, bigger jobs, and substantially better customer satisfaction.

Customers definitely like how transparent some financing is with their terms. The platform provides straightforward terms and genuine 0% APR options, unlike traditional financing with hidden fees or deferred interest. This transparency creates trust and ends up reflecting well on your business reputation.

Real-life examples show why many contractors choose Wisetack as their preferred solution. The platform's financed jobs are 4.5 times larger than average, while 87% of businesses win projects because they offer these payment options. These numbers show genuine growth potential for contractors who adopt this solution.

The platform's simplicity makes implementation easy. Your team can prequalify customers via text, add financing details to proposals, track loan status through a dashboard, and market 0% APR options effectively. These features remove financial barriers that could stop customers from moving forward with projects.

Wisetack financing goes beyond being just another payment method - it's a smart business move that meets modern consumer needs. This financing solution helps you compete better and enables more homeowners to complete their desired projects, whether you operate a small contracting business or manage a larger home improvement company.

FAQs

Q1. What types of businesses typically use financing? Some financing is primarily designed for home improvement companies offering services such as HVAC, roofing, plumbing, pest control, and garage door installation, among others.

Q2. How does the pricing work for contractors? Contractors pay a 3.9% transaction fee when a customer completes financing through Wisetack. There are no implementation costs or subscription fees associated with the service.

Q3. Does applying for financing impact a customer's credit score? Checking eligibility for financing involves a soft credit pull, which does not affect the customer's credit score. However, accepting a financing offer and subsequent repayment behavior can impact credit.

Q4. Can customers pay off their financing loans early without penalties? Yes, customers can pay off their financing at any time without incurring any prepayment penalties or additional fees.

Q5. How does financing benefit contractors? Contractors offering financing typically see increased close rates, larger job sizes, and improved customer satisfaction. Many report winning jobs specifically because they offered flexible payment options through financing.