In this episode of Accelerated HVAC Success, Eric Howarth, VP of Home Innovations at Goodleap, shares his insights on financing trends that HVAC contractors need to adopt to stay competitive. Eric discusses how vertical contractors in other industries are often more progressive about integrating financing, and he offers strategies for HVAC contractors to follow suit. He also examines the current landscape of interest rates and possible future transitions, stressing the importance of thoroughly vetting finance companies to ensure they align with business needs. Diving into the impact of FICO scores, Eric explains how large companies approach financing and how smaller contractors can adapt to stay viable.
Eric also highlights essential finance trends, including conditional programs and how they can benefit contractors. He emphasizes that a contractor’s mindset toward financing is critical, as an open approach can drive sales and customer satisfaction. Throughout the episode, he explains how Goodleap offers a range of financing solutions tailored to HVAC contractors, making it easier for them to navigate customer financing and grow their business in an increasingly competitive market.