Home service management software provider Jobber has formed a partnership with Wisetack to allow home service businesses to offer financing options to their customers. The new consumer financing feature gives homeowners the ability to pay for jobs such as home renovations, landscaping, roof repairs, a new furnace or air conditioner in monthly installments, giving them more flexibility to pursue large projects or deal with urgent and unexpected repairs. While homeowners will have the benefit of paying over time, home service businesses using Jobber will continue to receive full payment for a job as soon as it’s completed.
“Consumer financing is another way that Jobber is helping home service entrepreneurs meet homeowner expectations, compete with bigger competitors and ultimately be more successful,” said Sam Pillar, CEO and co-founder at Jobber. “Jobber’s customers can now offer premium services with more confidence, and homeowners can take on projects and repairs with a convenient and flexible payment option. We’re thrilled to add consumer financing to Jobber’s suite of financial solutions and further empower small businesses to deliver great service to their customers.”
Through Jobber, consumer financing can be automatically offered on residential quotes between $500 and $25,000. To apply for monthly financing, homeowners fill out a short application and receive a decision instantly. Annual percentage rates (APR) range from 0% to 29.9%. There are no prepayment penalties, origination fees, late fees or compound interest applied to the homeowner’s account. Consumer financing is available to Jobber customers in the U.S. who meet the eligibility requirements and are approved by Wisetack.
“Jobber’s reach among home services professionals means we can be more accessible to more businesses nationwide,” said Bobby Tzekin, CEO and co-founder of Wisetack. “We’ve gotten really great feedback from the service providers we’ve worked with so far and we’re excited to empower more businesses with this launch.”
In a Jobber-commissioned survey of 1,000 U.S. adults (age 25-plus), 62% of respondents said that they would choose one home service provider over another if the business offered monthly financing. In addition, 63% of homeowners indicated that they would be willing to take on a more expensive project if there was a financing option available to them. More than half of homeowners (54%) have put off a project due to lack of funds, while one in four (25%) have considered borrowing against their 401k for a home improvement project.
