With $2M from well-known Philadelphia-area CEOs, KoP fintech startup finds success and adds 100 employees during Covid Jan 13, 2021, 6:00am EST POWERPAY PowerPay Co-founders David Haas and Michael Petrakis launched the company just before the Covid-19 pandemic, and started turning a profit six months in. David Haas and his co-founder Mike Petrakis went into the Covid-19 pandemic…
PowerPay partners with American Heritage Credit Union to deliver $1.5B in loans PHILADELPHIA, Pa., Dec 2, 2020,/../ – PowerPay, the nation’s fastest-growing home improvement financing technology company, has announced American Heritage Credit Union as its new lending partner. This partnership follows PowerPay’s launch of new lending programs offering financing options with up to 24 months…
October 22, 2020 09:00 AM Eastern Daylight Time PHILADELPHIA–(BUSINESS WIRE)–PowerPay, the nation’s fastest-growing home improvement financing technology company, has reported a 120% annualized growth rate in the volume of new loans originating in Q3 2020. “We had modest projections heading into 2020, but the pandemic and economic forces caused major bank constriction in lending, and…
Here’s a little secret other home improvement lending companies don’t want you to know. With COVID-19, many lenders that either stopped writing loans or have “tightened” their credit policy. This means that fewer and fewer customers with decent credit are being approved or “risk adjusted” which means higher interest rates. As credit policies of big…
Larger projects are typically longer projects, and longer projects usually mean bigger profit margins for contractors. Think about it: With larger projects, fewer unpaid hours are spent quoting work, onboarding new customers, and securing permits. There’s also the chance you’ll save by buying materials in greater quantities. But how do you target larger projects? Do…
Watch a short video that shows how PowerPay helps contractors grow their business. Our national platform allows you to offer your customers up to $100,000 home improvement loans with no hidden contractor fees or credit cards. By translating expensive projects into low monthly payments, we help you win more, earn more and keep more, so…
International Roofing Expo, Dallas Texas Feb 4th-6th, 2020 PowerPay is exhibiting at the International Roofing Expo in Dallas Texas on February 4th-6th, 2020. Our booth number is 6436 and we are in the Business and Technology Section. Come visit us to learn about our exciting consumer finance program for home improvements delivered through contractors,…
KBIS and IBS home improvement Industry Show We are proud to announce that we are exhibiting at KBIS “Kitchen and Bath Industry Show” this year in Las Vegas from January 21st through the 23rd. What’s so exciting about this year is that both KBIS and IBS “International Builders Show” are located at the same venue…
Six Best and Worst Home Improvements for Your Money Some of the best home improvements you can make to your home when it comes to the value of your money are also some of the least expensive. Reprinted from the Street.com Scott Van Voorhis Mar 11, 2019 2:30 PM EDT Smaller home renovation projects…
Watch a short video that shows how PowerPay home improvement financing works. Our digital platform makes it easy for homeowners to get an unsecured loan with really low rates, long terms, no prepayment penalties. With our loans, you can buy the home improvements you really want. No more compromising. Make the right investment so you…
3 Ways to Close More Projects Worth More Money As a contractor, you’ve probably had this experience: You walk into a customer’s home, quote a project, and their mouth drops at the price. The conversation becomes difficult from there. Usually, you’re forced to watch your project shrink or disappear altogether. Using financing, you can have…
3 Benefits to Financing Your Next Home Improvement We finance many things in life. Our car. Our home. Our kid’s college tuition. But for some reason, when it comes to paying for expensive home improvements, financing isn’t something most people think about—even though they probably should. Below are three benefits for financing your next home improvement…
What’s a No-No loan? A No-No loan is also known as a deferred interest credit card loan. These have become very popular in the home improvement space recently. Unfortunately, the reason they are so popular is due to a lack of understanding. TRUE 0% LOANS DO NOT EXIST. Someone is paying for it, and 99%…
This may seem like a secret, but it’s not. HVAC dealers, improvement contractors, and generator dealers have been using financing to grow their businesses for years. The smart ones have turned it into an art form, but for the rest of the industry, it’s been gaining ground. First, let’s debunk some general myths about financing:…
Here are some common facts about consumer financing. 50% of all home improvement projects over $5,000 are financed. Over 35% of all homeowners search for financing options before starting the buying process. The average Dealer generates over $1 million in sales with 40% in financing business and 60% of cash/credit card sales. Credit Card Sales…
Financing Home Improvement with Credit Card Consumer Credit Card Spend for Home Improvement on the Rise, Houzz-Synchrony Study Finds Highest usage among millennials; Uptake of promotional financing One-third of homeowners used a credit card to pay for home renovations in 2017, according to a study released today by Houzz, Inc., in collaboration with Synchrony (NYSE:SYF), on…
Jumping on this home renovation trend could cost you Jumping on this home renovation trend could cost you 1 in 3 homeowners used a credit card to pay for at least part of a home remodeling project in 2017, according to a new report. A quarter of those homeowners used credit to take advantage of…