As a business owner, you know that offering financing options to your clients can increase sales and revenue growth. Studies have shown that businesses that offer financing options have seen an increase in sales. But did you know that using an agile loan origination and servicing platform can streamline the financing process for both you and your clients, making it easier and more efficient?

By investing in this software, you can offer a wider range of financing options and customize them to fit the specific needs of each client. This not only makes it easier for customers to afford the services they need but also gives you a competitive advantage in industries like HVAC, solar, and roofing where offering financing options is becoming increasingly common.

But that’s not all. Investing in this software can also lead to cost savings in the long run. By automating manual processes, you can reduce the risk of errors and save time, allowing your team to focus on other important tasks. Additionally, the software can help you manage and track loan payments, reducing the risk of missed or late payments.

Now, let’s take a look at some of the studies and surveys that demonstrate the positive impact of offering financing options:

According to a study by the National Association of Home Builders, 86% of home builders who offered financing reported increased sales. QuickBooks Capital found that small businesses that offered financing options saw an average of 25% growth in sales. PointSource found that 70% of consumers are more likely to make a purchase if they are offered financing options. National Retail Federation found that 60% of consumers who used financing options to make a purchase spent more than they initially planned.

In addition, recent surveys have shown that the majority of consumers are more likely to make big-ticket purchases if they have the option to finance it. For example, a 2020 survey by the Consumer Technology Association found that 67% of consumers are more likely to make a big-ticket purchase if they have the option to finance it. Similarly, a 2021 survey by the National Association of Consumer Advocates found that 73% of consumers are more likely to purchase a product if they have the option to finance it. A 2019 study by the National Retail Federation found that consumers who used financing options to purchase big-ticket items spent an average of 31% more than those who paid in full.

As you can see, offering financing options can be a valuable tool for businesses looking to drive sales and revenue growth. With the help of an agile loan origination and servicing platform, you can streamline the financing process, offer a wider range of financing options, and customize them to fit the specific needs of each client. Don’t let the fear of upfront costs hold you back from investing in this software that can ultimately lead to cost savings in the long run. Take advantage of these studies and surveys that demonstrate the positive impact of offering financing options, and start increasing your sales and revenue growth today.

Thanks for reading! I hope you found this helpful and informative. For more updates and insights on the latest industry news, follow me on LinkedIn, Twitter, or subscribe for free to my newsletter.

Frank Estrada

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