How to sell Hearth Financing to your customers

How to sell Hearth Financing to your customers

Welcome to Hearth!

We’re excited to have you on board, and are ready to help you close more sales. Over the past few months, we’ve gotten feedback from our contractors to see how they use financing as a sales tool.

Today, we’re going to share these insights with you. Read on to learn some proven strategies for closing more sales with Hearth.

How to add financing to the sales conversation

When you’re meeting with a potential customers, one of two things will happen:

  • Your customer will ask if you offer financing
  • Your customer will not ask if you offer financing

The first scenario is easy to handle, and we’ll discuss how to describe Hearth in the next section.

But what about the second scenario? You can still offer Hearth to your customers even if they don’t ask for financing.

Asking a customer if they need financing can be awkward. We’ve found that, if you phrase things like the example below, your customers likely won’t get upset:

“I don’t know what your financial situation is, but if you’re looking to finance all or part of the project I can help.”

Your customer may want to learn more, or they may say they have the cash and don’t need financing. You can then say something like:

“Are you sure? Financing can help you spread the cost out over fixed monthly payments. And even if you have the cash, you can use financing to afford a higher-quality project.”

Another strategy we’ve seen work well is attaching a copy of your customized marketing flyer to your bid. You can download and print the flyer from your dashboard.

Add monthly payments to your bid

A great way to add financing to the sales conversation is to add monthly payments to the bid. If you quote a job just at full price, you could scare off the customer. However, breaking down the project into monthly payments makes the cost more manageable for many households.

You can estimate monthly payments on Hearth by using the calculator in your dashboard. Click here to access it.

Once your customer expresses interest in Hearth, it’s time to get your customer to try Hearth.

How to describe Hearth

Our most successful contractors emphasize two points when describing Hearth:

  1. It’s easy and quick to get financed through Hearth. Over 70% of homeowners see options from Hearth, and funding can arrive in as soon as 24 hours.
  2. Customers can check their eligibility without affecting their credit scores. This means there’s no downside to trying to get pre-qualified.

Here’s how we recommend explaining Hearth:

“Hearth makes it easy to find financing for your project. All you have to do complete a quick online form to get pre-qualified from up to 10 lending providers. Getting pre-qualified won’t affect your credit score, so there’s no risk to checking if you’re eligible. If you find an option you like, you can then apply for a loan.”

Other things to mention:

  1. After getting pre-qualified, the loan application process is quick if your customer has income verification documents (e.g. a W-2) ready.
  2. Your customer may have to pay the lender an origination fee (2-5%) of the loan. To compensate for this, your customer should increase the amount they ask for.

How to start a loan request

If your customer is ready to get started, you have a few options:

  • Send your loan request link: In your dashboard, you can click a single button to send an email to your customer with the link. You’ll have the chance to edit the email before sending it.
  • Start a loan request with your customer: You can press the “Start a loan request” button to begin the process with your customer. Remember to add your customer’s email!
  • Send your customized marketing materials: Your flyer has a link to your loan request page.

You can access your loan request page from your dashboard.

We’ll text you how much your customers pre-qualified for, so you know how much you can upsell.

Answers to common questions

What types of loans can Hearth help me find?

Hearth helps you find personal loans, which have fixed monthly payments and no home equity requirement.

How much can I request from Hearth?

You can request from $1,000 up to $100,000.

What rates should I expect?

It’s impossible to predict what rates you’ll see. They depend on your credit profile, income, and existing debt. You can check your personalized rates through Hearth without affecting your credit score.

Does getting pre-qualified on Hearth affect my credit score?

No, getting pre-qualified on Hearth will not affect your credit score. If you find an option you like and decide to apply for a loan with one of Hearth’s partners, that process will affect your credit score just like any other loan application.

Ready to start sending customers to Hearth? Click here to log in and access your dashboard.