The annual percentage rate, or APR, depicted on the financing platform by various lenders, depends on many factors, including:

The customer’s credit score, the amount of debt they currently have, their income, the amount of financing they wish to obtain, and many other factors are considered factors. Customers can see rates as low as 7.99% and as high as 35.99% (and sometimes higher if subprime lenders are enabled).

The platform works like Expedia for contractors and offers various types of home improvement loans available in the marketplace. Lenders are competing to get the customer the best loan possible.

The duration of the loan, or term, that is depicted on the platform by various lenders, also depends on many factors, just like the APRs. Customers can see terms as long as 12 years.

Customers will have instant access to over 24 prime lenders and 8 subprime lenders that will fund directly to the applicant. This brings great advantages including:

• Options for applicants across the credit spectrum from prime to subprime
• Secured and encrypted process, all online
• No extensive paperwork on your end

Funding will take place within 1-2 business days (on average) after all requested information has been provided to the lender, and will be sent either using wire or ACH directly to the customer.

When customers apply through the platform, this is a soft credit pull for pre-qualification purposes. The platform does not perform a hard credit pull. However, after customers choose one of the financing options listed, the chosen lender will perform a hard credit pull. It’s important your applicant only selects one offer. JBFin is great as a first look option if a customer does not want to have their credit score pulled during the initial application process.

Customers can see financing options and get approvals with a FICO score as low as 580, subject to lenders’ criteria, customer’s credit worthiness, and ability to repay the loan.

Customers can see financing options for both secured and unsecured loans, as well as line of credit options. Most financing options are unsecured installment loans.

Contractors have been increasingly using Direct To Consumer (D2C) financing to reap the benefits of these types of loans. Contractors are pre-approved to offer their customers with consumer direct financing immediately, with no dealer documents required. By simply taking a small deposit from the customer and offering JBFin for the customer to finance the balance, contractors overwhelmingly secure that customer and that new job.

Using the platform is FREE to use for all of your customers. The financing option they select will have interest though, and some lenders charge origination fees.

The platform is extremely easy to use, both for the customer as well as for the contractor. The contractor can text or email their customer a link that immediately opens a financing application.

Contractors do not need to understand the complexities and intricacies of financing to enjoy the benefits of growth with Consumer Direct financing. Contractors simply need to email/text their link to their customers and that is it. Contractor’s will be notified of the status of every application submitted by their customers through the platform.

When you login to the financing portal, you can find the link you’ll use to send to your customers to apply for financing. Under Settings > Experience settings, on the right hand side at the bottom, you will see your direct landing page URL.

Using the same link mentioned above to your direct application landing page, add this link to your company website. You can use a button or image to “Apply for Financing” or “Apply Now”.

If you have additional questions about JBFin, please email financing@jbwarranties.com or call 469-642-1198.