Financing options for customers

[SCTree]

Does anyone offer any kind of financing options for their customers? If so, how do you do this. Is it a verbal agreement? Are there any companies out there that help us tree folk with offering financing to customers? Would like to be able to offer this but dont necessarily want to have to carry the debt.

 

[ATH]

I would not finance anything I'm not willing to drop! Fair debt collection practices act can bite you in the butt and there are people who know how to play that game.

Every now and then I will tell people they can take 60 days to pay instead of 30 days.

They can use their credit card if they want. If that is tapped out, you are probably dealing with somebody you don't want to finance.

If you really want to explore more options, I'd probably talk to a couple of local banks or credit union and ask them if they would work with you to carry the debt - so the loan would be with them, not with you. I don't know if they would do that or not...but I'm envisioning you giving the client the paperwork to apply, quickly scan that to the bank. They run a quick check and give you a "yes or no".

 

[benjo75]

If they dont have the money on hand for tree work I'll tell them to wait until they can afford it. A big majority residential jobs in my area cost less than $2k. Meaning I do more jobs for less than $2k than I do for over $2k.
If someone doesn't have that on hand for minor repairs and maintenance then they probably won't have it in the future. Some people live their entire lives from paycheck to paycheck. Financing that small of an amount will probably result in loss.

 

[Bobby Kirbos]

Not the same industry (I work for an HVAC company), but we used to offer 3rd party financing through a company called Macrolease. They have the resources and infrastructure in place to send the monthly statement, process the payments, and make the collections calls when necessary. If the customer doesn't pay his bill, it's THEIR problem, not yours.

I don't know the ins-and-outs of how the whole thing worked. I was just the programmer who dug out their convoluted calculations from the spreadsheet they gave me to convert the code to PHP for use in our quoting program... that was after I cracked the password on the spreadsheet so I could actually see the formulas. {rant} I mean really, if you give someone documentation for something like this, why the FK would you leave the needed information behind a password... then not provide the password... IDIOTS!!!!! {/rant}

 

[KingBeee]

The only financing option i provide for my customers is giving them a longer period to pay the invoice

 

[ElevatorGuy]

Randy Miss said it best. Straight cash homie.

 

[mckeetree]

AVOID anybody that has to finance their tree work.

 

[lone wolf]

AVOID anybody that has to finance their tree work.

And at that point i would not want a check from them either!

 

[ElevatorGuy]

Randy Moss, Dang auto correct. Can’t edit it for some reason.

 

[Fatherwheels]

When I used to work in plant / tool hire, collecting lawnmowers from customers,
there was the greatest struggle to get the paperwork and out the door first,
every time it would be a woman, with a broken heart sob story, but they
always settled their debt, the lawnmower came back, the driver smiling and happy.
No money ever changed hands.
So no, I would never work for anyone without the majority up front and the rest
stuck in their drive so they had to pay to get in and out, or some other leverage,
its terrible to have to fight for what you earn, but lots of customers will try,
and lots get told no am busy, because their name precedes them, and some
get told, its on me, because they need a break.