Driveway 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

Driveway paving or repair can cost several thousand dollars – a lump sum many homeowners can’t afford. Setting up an ongoing relationship between your contracting business and a financing company lets those customers access loans easily and instantly. The quick, easy process made possible by having a good finance source “on tap,” makes your business a pleasure to deal with for homeowners.

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.

Great Financing Strengthens Your Driveway Contracting Bottom Line

Making better driveway options accessible to people without a large bank balance via financing means larger, more lucrative jobs for you. The more expensive types of driveway projects offer advantages such as high curb appeal, great looks, and, in some cases, immensely improved durability. The widened choices from access to financing improves the outcome for both you and your customer base.

Financing can Cover both Paving and Repaving

Subjected to the constant weight, wear and tear of vehicles, even the best driveway eventually cracks and disintegrates. Clients may need a loan to cover paving a dirt or gravel driveway for the first time, or for repairing an existing driveway. Finding a financing company that funds a wide range of projects from small $1,500 jobs to large $100,000 jobs will provide monetary coverage for anything a homeowner needs for their driveway.

More Flexibility in Adapting Driveway Types to Climate

Plain asphalt driveways will probably be the backbone of your contracting business’ contracts. However, with excellent financing at their fingertips, clients may be more open to a driveway suited to their climate. In hot areas of the country, such as the southwest, asphalt driveways heat up to extreme levels. A concrete driveway or one made from brick or stone pavers stays cooler, and radiates less heat into vehicles or the nearby air. For northern climates, a radiant heating system to melt snow and dangerously slippery ice costs around $4,000 to $4,500. Spread out through monthly payments all of these options become accessible to homeowners.

Upselling to More Expensive Driveways for Greater Home Value

Armed with the support of a financing partner, you can make the case to uncertain homeowners that a topnotch, paver driveway will add to the value of their home. Even an ordinary asphalt or concrete driveway typically recoups between 50% and 75% of its cost. Paver driveways made of brick or cobblestone are far more expensive, but the ROI can approach 100% or above. Homes with high curb appeal, typically resulting from attractive driveways, landscaping, and facades, sell 10% to 15% faster than other houses.

Contractor Driveway Financing FAQ

Does Financing Improve Sub-Base and Base Preparation?

A good sub-base and base are necessary to make a driveway truly stable and lasting, but can be costly. While some fill includes a large amount of powder and is quite cheap, it’s best to use good quality aggregate as the fill. Free from most powder, with small pieces that pack together firmly without large gaps, this aggregate drains well. Proper aggregate fill is around a foot (12”) thick, and even thicker in northern climates to protect against frost heaves. Adding an underlayment of geotextile keeps the sub-base fill in place when building a driveway in clay soils. Financing helps to make all of these preparations more financially viable.

Will Financing Cover Driveway Repairs?

As with repaving, resurfacing or repairing a driveway is usually eligible for support with a loan, too. Any job of $1,500 or higher may be enough to meet a financing company’s benchmark. This could even potentially include an expensive periodic sealing job on a very long driveway.

Driveway upgrades, such as installing thin pavers on top of an existing poured concrete driveway, also can qualify for funding.

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.

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 eliminated all unnecessary fees, coverage charge and penalties.

PowerPay also offers the longest payment options – up to 15 years. Our rates start at 8.99% and we can offer up to $100,000 loans with staged funding for qualified contractors.

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.

Why don’t you offer “No-No” loans?

A “No-No” loan is also known as a deferred-interest credit card loan.  We don’t offer teaser loans for a few reasons.  Studies show that most customers that qualify for these loans can afford to pay cash for the home improvement.  So, by offering these loans, you are paying an average 10% in bank fees, and either eating the cost of the loan or passing it on to your customer.  This doesn’t make sense.  The main reason to offer financing is to help the customers that cannot afford to pay cash for a home improvement.  Deferred-interest credit card promotions don’t help customers that need it because the payments are much higher and if they are late or miss a payment, they’re hit with heavy penalties and an acceleration of the interest payments.  Rates can be as high as 30%.

We don’t believe in these loans.  We offer a fair, low-interest rate with 5-, 10-, and 15-year options so your customer can get the lowest payment possible.  A low monthly payment with no fees ensures that everyone is happy—both you, and your customer.

PowerPay Partners

Enroll Today! Use Tomorrow!