Who out of you guys offer finance!

[littlespark]

How will you pay for all the materials used?
You might get 90 days with a wholesaler, but not see any of the money for several months after. Even paying your bills by credit card, giving you another month..... you’ll be well out of pocket for some time.

 

[Richard_Fl]

Do not do it!
Certainly, offering finance yourself is a nightmare to be avoided at all costs, because if you get the paperwork wrong the penalties are huge and you won't get paid either.
getting a third party to step in makes you an introducer...avoid this too!
As James said, let the customer arrange the finance he/she needs. You have to do the job, collect your money in full, and walk away. No job is worth it if you are waiting, chasing, chasing...your profit margin disappears rapidly, and you are left out of pocket.
Also, if you are chasing a customer who isn't paying on time, they are the very ones who will bad-mouth you on social media just to bully you into letting go.
No! Don't do it. if the customer can't afford the work from his/her own sources, there is a good reason for this, and you should not take on their risk.
Stand out on customer service, not on lending them money! The labourer is worthy of his hire, and should be paid promptly.

cheers for the reply

I was thinking the way the finance would work is me pass the details onto a finance broker and they would facilitate the finance with the customer, leaving me to do no more paperwork than formulate my usual quotation. Also the finance company would surely pay out to myself in full as they make the money on the interest from the finance of the customer.

If I am presuming correctly surely that's a safer way to do business as the risk of non payment is with the finance company and not myself.
[automerge]1583496457[/automerge]

How will you pay for all the materials used?
You might get 90 days with a wholesaler, but not see any of the money for several months after. Even paying your bills by credit card, giving you another month..... you’ll be well out of pocket for some time.

I see what you are saying but I was thinking the finance company will pay the amount to myself in full on completion and then I can pay the materials. Surely the finance company won't pay out in instalments.

 

[richy3333]

Well its often used by plumbers/heating engineers so there must be an avenue for doing this. You might be better off asking on a wet pants forum!