I ran this subject line past a few of the administrators.  They and I could not recall this subject getting discussed here.

To start off I want to say I am NOT an expert on lending institutions or anything that they do, per se.

I will try and tell you what I saw  while working with a general contractor's sales people.

In 2003,  as the engineering rep for the paint / coating I work with, our manufacturer sent me to Sacramento.  We had a brand new distributor who was a general building contractor.  They had 96 employees on the construction crews.  They had crews that could build a house from the ground up.

They were a distributor of a very good line of insulated windows, they had an insulation crew and two 3-man crews that would install our energy saving coating / paint.  That was their total involvement in energy efficiency.

Sorry for the long lead in here but here is the main point.  The husband was the general contractor.  One of the other companies his corporation owned was a finance company, his wife had whatever credentials was needed to do that.

They had 12 sales people in the field 6 days a week.  I accompanied many of them to answer questions on our product the salesmen were as yet unable to answer. When it got to the point of signing on the dotted line, they would bring up the fact that they worked very closely with a financial institution and had the paperwork to submit an application for a loan for the amount of the job. Nine out of ten always signed and filled out the loan papers on the spot.  The fact that the contractor was tied in with the financial institution was very impressive to the customer.

Most of the contracts that came across my desk were  for exterior painting with our coating and for some new energy efficient windows.  Those 2 products seemed to go hand-in-hand.

Now, some numbers.  The salesmen, on average, wrote $200,000.00  in contracts every week! 

A portion of those DID NOT pass the credit check  OR did not pass for the full amount but did for a lesser amount.  Sometimes the homeowner had to decide which they wanted, the paint or the windows.

The salesmen being knowledgeable on the credit application end AND having the correct paperwork with them was a HUGE selling point for that job.  The financial institution came to them rather than them having to drive to the lender.  The salesmen would leave and bring the paperwork to the finance department.

I  am curious if anyone else on this site has had any similar experiences teaming up with a financial institution?   Is this just old news that nobody talks about?  Teaming with a reputable insulated window company for leads / finders fees back and forth to expand each others portfolio of services?

It worked very well for those involved back then.  Anyone else have any experiences similar to those??

Hal Skinner

ct-coating.com

Views: 77

Reply to This

Videos

  • Add Videos
  • View All

Twitter

Latest Activity

Simon added a discussion to the group Energy Auditing Equipment for Sale, Trade or to Purchase
Thumbnail

Wanted - Blower and door frame kit for Minneapolis system

Hi everyone,I'm new to this line of work and have bought some equipment (Minneapolis blower door…See More
5 hours ago
Simon replied to Steve Mann's discussion TEC Blower Door Frame in the group Energy Auditing Equipment for Sale, Trade or to Purchase
"Hi, I'm interested, but could you send to UK?,I'd pay shipping of course. My email is :-…"
5 hours ago
Simon replied to Jeffrey Anthony's discussion Blower Door Equipment - 9 shrouds, 10 fans, 5 fan controllers in the group Energy Auditing Equipment for Sale, Trade or to Purchase
"Hi, if you able to sell sepereately, I'd be interested in a blower and a frame kit. My only…"
5 hours ago
Simon joined allen p tanner's group
Thumbnail

Energy Auditing Equipment for Sale, Trade or to Purchase

Discuss the pros and cons of the equipment you are interested in prior to purchase. Post equipment…See More
5 hours ago
Simon is now a member of Home Energy Pros
9 hours ago
Rob Madden, Solar Home Broker joined Leslie McDowell, BPI's group
Thumbnail

Building Performance Institute (BPI)

BPI is the nation's premier standards development, quality assurance and credentialing organization…See More
18 hours ago
Rob Madden, Solar Home Broker posted a discussion

Indoor Air Quality Monitors and Meters

I'm considering purchasing the AirAdvice for Homes indoor air quality monitor but it seems to have…See More
19 hours ago
Rob Madden, Solar Home Broker joined Sean Lintow Sr's group
Thumbnail

Best Practices (Residential)

Best Building, Retrofitting, or even Auditing Practices - what are they, what should change, what…See More
19 hours ago

© 2016   Created by Lawrence Berkeley National Laboratory.   Powered by

Badges  |  Report an Issue  |  Terms of Service