TURNS Financing Services, an HVAC industry financing liaison for contractors and their clients, has launched a financial assistance service for HVAC contractors and their clients. Through its online platform, TURNS connects contractors with a network of lenders offering a broad array of consumer financing options for clients seeking to purchase replacement HVAC systems for their homes. >>
“TURNS is predominantly focused on facilitating programs to address the segment of under-banked households,” says Thad Joseph, CEO and President of TURNS Financing Services. “According to the Air-Conditioning Heating and Refrigeration Institute (AHRI) and J.P. Morgan estimates, more than 7.08 million HVAC units will need replacement in 2012. Homeowners will spend over $30 billion annually replacing their HVAC system, and not every household qualifies for the needed financing. TURNS lenders will finance down to the mid-500 FICO level and most debt-to-income ratios, which includes 90% of U.S. households.” >>
With a sluggish economy causing home equity lines to disappear and tighter bank lending requirements, contractors are facing more difficulties in finding the financing options necessary to close sales. TURNS assists with facilitating these potential sales by prequalifying consumers and offering an array of financing choices for prime and credit-challenged consumers looking for the best offer/rate or the most affordable payment option. >>
“We continue to expand lending products on our platform,” says Joseph. “The advantage of working with TURNS means more options for client financing, a better chance of approval and an array of consumer focused finance products that work for our HVAC clients.” >>
A contractor’s existing prime lender programs can also be integrated onto the TURNS platform for access to both primary and secondary programs with one application. There are no hidden fees in making financing with this one stop integrated effort, and the new process eliminates most in-home financing turndowns and the need for multiple loan applications and credit pulls. Contractors interested in more information about TURNS Financing Services are encouraged to visit turnsfinancing.com or call 404/901-3683 >>