Bathroom Remodel Financing for Contractors

Offer home improvement loans to customers with no hidden contractor fees or credit cards.

No hidden contractor fees or credit cards
Instant approvals up to $100,000
Payment direct into your bank account via ACH
Close more bids and save you and your customers money

Bathroom remodeling is an immensely popular upgrade for American homeowners, including updates to fixtures and decor to serve the room as both a place of relaxation and refreshment. If your contracting business includes bathroom remodeling, make your services even more attractive by offering turnkey financing. Partnering with a topnotch financing service makes accessing funding easy while boosting your bottom line.

Close More Sales

Eliminate paying fees to banks and finance companies

Seamless Funding

Close more sales by focusing on low monthly payments

Sell More

No more compromising on price – upsell the project your customer really wants.

The Benefits of Bathroom Remodel Financing for Contractors

Why a Bathroom Contractor Reaps Big Benefits from a Financing Partner

Partnership with a simple, effective financing company is a major key to success for your bathroom remodeling business. Rather than obliging your clients to scramble for funds before they can hire you, you can offer instantly-approved financing and your renovation services together as part of one, seamless package.

You Get Your Money Faster and With Less Fees Using Modern Financing

When remodeling a client’s bathroom, the last thing you want is for some of your profits to go down the toilet because of high financing fees or time-wasting payment-collection efforts. A modern financing partner reduces or eliminates contractor fees, letting you keep more of your profits. Additionally, they pay you immediately for your work once it’s done and then handle the receipt of payments themselves, freeing up your time for new endeavors. 

Financing Bathroom Renovation Can Prevent Higher Future Costs

Adding a regular, fairly low payment to customers’ monthly budget frees them from the concern that they will deplete their available cash trying to renovate their home. You can point out that this low monthly payment is much preferable to the possible high future repair costs from rotted floors, mold and mildew from leaks, and other damage or problems caused by an aging bathroom – not to mention the issues that could arise if customers try to do the project themselves.

A Good, Financed Bathroom Job Enhances Home Value and Saleability

When persuading customers to engage your services, having a solid, fast, simple method of financing available is obviously key to saving people cash up front. However, depending on the region of the country, a homeowner selling their home may also recover anywhere from 40% to 70% of a bathroom remodel’s cost when they finalize the deal. A remodeled bathroom increases overall home value by around 3% on average.

Bathroom Remodeling Financing FAQ

How Many Bathrooms are Involved in a Typical Remodeling Job?

Any home with more than one bathroom offers the potential of multiple remodels as homeowners are likely to want matching updated sets. According to the Census Bureau’s “Survey of Construction,” close to 61% of new single-family homes built in 2019 feature two bathrooms and just 3.7% of these new constructions include only one bathroom. High-quality, easily obtained financing makes a double (or triple) remodel much more attractive and affordable.

Does Financing Help Contractors Sell Services to Owners of Older Homes?

In short, yes. At first glance, older houses might seem less profitable for a financing service and contractor partnership. After all, most feature only a single bathroom compared to today’s overwhelming average of 2 or more. Yet, oftentimes, lack of modern conveniences and styling, the wear and tear of long use, and possible long term damage from moisture and lack of proper ventilation can make older home bathroom jobs expensive.

How Do Building Codes Mesh with Bathroom Contractor Financing?

Municipal building codes can potentially generate more demand for high- priced bathroom remodeling projects best offset by good financing. For example, many locations don’t allow a new bedroom to be legally listed as a bedroom in real estate ads without an associated bathroom, or a certain amount of bathroom square footage. Adding another bedroom may compel a homeowner to add a new bathroom, too, or expand an existing half-bath into a full bath. With a good financing partner, you can point out to potential clients that they can spread out the cost of a code-mandated bathroom renovation without adding much to the up-front expense of “fixing up” their house before selling it.

PowerPay FAQ

What’s considered a home improvement?

Any equipment, service, installation costs or other project related to home improvement qualifies for financing. The following is a partial list of what PowerPay finances: HVAC equipment & installation, attic insulation, stone veneer, windows, siding, roofing, kitchen remodels, bathroom remodels, cabinets, carpet, deck & patio, doors, fireplaces, garage doors, smart home equipment & installation, hardwood flooring, paint & wall coverings, hardscaping, landscaping, siding & exteriors, tile, stone & countertops, air conditioning & heating, gutters, spa & pool, home additions, deck building, tile installation, basement remodeling, custom cabinets, fence installation, lighting installation, garage building, cabinet installation, backsplash installation, electrical and plumbing and appliances.

What Loan Products does PowerPay offer?

Base Program
  • No Dealer Fee Options
  • Rates start as low as 4.99% (buydown)
  • staged funding available*
  • terms options are 5, 10 or 15 years (lowest monthly payment)
  • no prepayment penalties
  • no credit cards
Promotional Program
  • Up to 24 Months NO payments NO accrued interest (12-month or 24-month options)
  • Deferral Period begins at the completion of construction
  • 15 Year Product
  • NO Balloon Payment: at the end of the deferral period your customer just begins making their low monthly payment with rates as low as 8.99%
  • NO Credit Card
  • Discounts from 5%
Balance Pay (BalPay)
  • 2, 3, 5 Year NO Interest “Equal Pay” Product with an ultra-low default 8.99% APR

Why should I offer financing?

50% of all home improvement investments over $5,000 are financed. Additionally, over 30% of all homeowners research financing options before making a home improvement purchase. Offering financing enables you to close more sales and earn more money on every job. By translating a large, expensive home improvement into a low monthly payment, you’re less likely to lose sales because of pricing, and you’re less likely to see customers haggling with you over costs. Quite simply, offering financing can help you to grow your business.

Why do dealers and contractors choose PowerPay?

We were founded by a home improvement professional who knows firsthand the power of financing, as well as the damage fees can do to your bottom line and your customers’ pocketbooks. The average contractor pays 7.5% in fees on every financed home improvement project. That’s why we have no hidden contractors fees, credit cards or prepayment penalties.  There are other important benefits for dealers:

  1. Longest Terms:  PowerPay also offers the longest payment options – up to 15 years.
  2. Lowest Rate: rates start as low as 6.99%.
  3. Maximum Loan: we can offer up to $100,000 loans with staged funding for qualified contractors.
  4. Higher Approval Rates: tired of declines?  PowerPay has the highest approval rate in the industry.
  5. Fast and Direct Payments:  we wired funds fast direct to via ACH to your bank account.
  6. New Programs:  we are adding new programs to help you convert more customers, StipPay, APR Enhancement and more!

How do customers pay me and what’s my risk?

Customers don’t pay you. PowerPay will direct deposit funds into your account via ACH within 48-hours after the install. You keep 100% of the funds, and your payment is guaranteed when you complete the project. It’s simple, fast and easy. No more collection calls and chasing clients for payments.

How does PowerPay work?

By using PowerPay, you are giving your customers options to pay for home improvements with financing.  Your customer will apply online using our online application form and a decision is generated in seconds.  Once approved, you can complete the transaction with your customer from our easy-to-use portal.  Electronic documents will be sent via email and your customer can sign electronically – we are fully paperless.  Your customer won’t get any bills for a month or so after installation.  You will get paid by PowerPay in full after the installation is complete.

How do I offer PowerPay to my customers?

There are a number of ways to offer PowerPay to your customers:

First, your clients can apply at GetPowerPay.com
Second, we can supply you with a link or button for you to add on your website.
Third, customers can apply by contacting our call center and using your dealer/contractor ID.
Finally, your salespeople can provide a link to apply or use a tablet with our application form during in-person visits.

Who is the lender?

While other finance companies serve as “middlemen” and take fees from you for allowing you to offer financing to your customers, PowerPay does not act as a middleman or lead generator. That’s why we are able to not charge any fees.  We have funding commitments for $15 billion.  Every borrower is approved through our systems and all loans are processed through our system. That means that we control the rate and loan term, and service every loan.

How complicated and time consuming is set up?

With PowerPay, enrollment is through a simple form that takes 2 minutes.  After that, our team will train and onboard you or your salespeople at no cost at a time that’s convenient for you.  Our process is so simple that training takes less than 30 minutes.  We can have you up and running and writing loans in one day.

Promotional Programs - the difference between PowerPay and other banks

There are several types of promotional loans. PowerPay offers two types.  Same as Cash and 12 months and 24 months no payment promotions.  First, PowerPay promotional loans are not credit cards.  They are unsecured personal installment loans.  The main difference between a credit card loan and PowerPay promotion is the interest rate once the promotion is over.  In most credit card “teaser” promotions that rate, once the promotion ends, will be in excess of 29%.  Our loans, once the promotion ends will be approximately 8.99% for 15 years with no prepayment penalties so customers can pay off whenever they like.  We don’t like the credit card promotions because the fees are excessive and we’ve seen too many people get hit with accelerated payments and massive fees.  It’s just unfair and most contractors don’t seem to care what the customer pays after they’ve completed their job.

With uncertainty in the economy and financial markets we believe that if a customer wants to use the promotion and then pay it over time, it should be at a fair and reasonable rate.  Most contractors and dealers offer “teaser” promotions as a marketing tool but at the end of the day, only consumers will above-average credit qualify.  PowerPay offers promotions for customers at many credit levels.

Our same as cash promotions essentially allow the customer to make a purchase and pay off the loan in equal monthly installments similar to how you purchase an iPhone.  These programs are offered with the lowest fees in the industry.  Ask your sales rep for more information.

PowerPay Partners

Enroll Today! Use Tomorrow!