Kitchen 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

Kitchen renovations rival bathroom remodeling as the most popular American home improvement. Many things contribute to the success of your kitchen remodeling business – the skill and quality of your work, your knowledge of the latest kitchen trends – but having great financing is crucial to selling your services, too. Setting up contact with a home improvement financing company offers some big advantages compared to just leaving your clients on their own.

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 Modern Kitchen Contractor Loans

The number of people hankering for kitchen renovations is far bigger than the number who can afford one. Offering projects in the form of a low monthly payment via attractive APRs of 8.99% and loans that spread payments out over a period of up to 15 years gives you a huge advantage in winning new customers.

Financing is Needed for Even Minor Do-Overs

Kitchen remodeling is one of the pricier home improvements, with the average cost of overhauling this room ranging from $20,000 to well over $100,000. A modest upgrade involving refacing cabinets rather than tearing them out, painting the walls, replacing the sink and faucet with a new setup, and laying down new flooring and countertops averages about $21,000. Adding in partially customized cabinetry, an island, higher quality sink and appliances, and custom lighting can easily raise that cost to $62,000. Granite countertops, custom cabinets, designer fixtures and lighting, can push costs even higher. Due to the high expense, readily-available financing lets customers access the home they always dreamed of, instead of making compromises.

Partial Remodeling is Still Profitable

Even if a client only wants certain parts of their kitchen renovated, the cost is still high enough to easily justify financing. Refinishing cabinets, for example, can cost between $1,500 and $4,000, while refacing them makes that jump $4,000 to $10,000. Similarly, replacing appliances alone can cost anywhere from $3,000 for store-bought pieces to $12,000 and up if the client wants quality appliances built-in as a custom feature. Any job over $3,500 can be readily financed to easily seal the deal.

Opening Up Countertop Possibilities

Supported by a convenient, cooperative, turnkey financing source, you and your clients can choose from a full range of options for kitchen countertops. Backed by a quality loan source, customers can focus on the pros and cons of various countertop materials without worrying as much about price. Bamboo is eco-friendly and gives a homey, warm appearance, but can be easily scratched or cut. Granite, the classic choice, is tough and attractive, though its edges can chip. Recycled glass looks very distinctive and withstands heat or scratches, but can stain or chip. Backed by financing, you and your clients are free to work out the best material for their needs and aesthetic sense.

Kitchen Renovation Contractor FAQ

How Does Custom Cabinetry Affect Remodeling Price?

Custom cabinets offer massive benefits in both convenience and unique appearance to homeowners, but are some of the most complex and expensive parts of a kitchen renovation, with costs varying depending on materials used. Custom design, millwork, fitting, and finishing are high- skill, time-consuming facets of a cabinetry upgrade. The preferred material – some type of high quality laminate or plywood – costs $500 to $1,200 per linear foot. Steel or steel-and-glass cabinets cost $1,000 to $1,600 per linear foot with the average American kitchen containing 25 linear feet of cabinets.

Good turnkey financing helps to cover the expense of custom cabinetry, even in larger than average kitchens.

What are Typical Demolition Costs?

Complete demolition can add anywhere from $350 to $1,500 to the price of a kitchen renovation, depending on your labor and disposal costs. The most difficult and costly removals are cabinets, flooring and appliances, assuming that large appliances such as refrigerators are involved.

Quality financing, with flexible amounts and good terms available, ensures that it isn’t necessary to skimp elsewhere due to the costs of demolition before the main project starts.

What are the Prices of New Kitchen Flooring?

The price of new kitchen flooring is dependent on the various materials used in the process.

Waterproof materials are recommended for kitchen floors given their use for cooking. Older houses may require the removal of improperly waterproofed subflooring, too.

Linoleum and vinyl floors are among the least costly at $3 to $5 per square foot, while ceramic pushes the price up to $8 to $13 per square foot, slate $9 to $17, and marble or travertine $12 to $21. Sealed and waterproofed wood floors are at the high end, with bamboo the cheapest, laminate a mid-price choice, and hardwood equaling stone flooring in cost.

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
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!