#USA #New York #Home Improvement #ChargeAfter #Foundation Finance

ChargeAfter Expands Financing Options in Home Improvement

ChargeAfter, known for its innovative embedded lending platform, has recently teamed up with Foundation Finance to significantly enhance financing alternatives for home improvement contractors and their clients. This strategic collaboration aims to make the financing process smoother and more accessible, benefiting both homeowners and contractors alike.

As home improvement projects often come with major financial implications, ChargeAfter's embedded lending network plays a pivotal role in connecting consumers with suitable lending options at the point of sale. Utilizing its advanced waterfall financing technology, ChargeAfter assesses individual customer needs and aligns them with the best-suited financing products available through its network.

Foundation Finance brings a significant advantage to the partnership, offering financing solutions that can reach up to $100,000 with repayment terms extending up to 20 years. This flexibility is particularly favorable for near-prime customers, fundamentally increasing the potential for approvals and providing a more robust customer experience. The home improvement industry, where financial decisions are frequently made in a relaxed atmosphere—such as at the kitchen table—benefits immensely from a reliable and user-friendly financing process.

Simplifying the Financing Process

Andrea McCullion, the Chief Business Development Officer at Foundation Finance, emphasizes the advantages of this multi-lender financing approach. She states, "As home improvement providers adopt a multi-lender financing approach, ChargeAfter enables them to simplify the process. Through this partnership, Foundation Finance products are easily available to customers at their moment of need, helping contractors provide more financing options with less complexity." This sentiment is echoed by Meidad Sharon, the CEO of ChargeAfter, who expresses enthusiasm about integrating Foundation Finance into their network to bolster ChargeAfter's prominence in the home improvement sector.

The collaborative effort is focused on providing contractors the tools they need to meet diverse customer financing needs, ultimately maximizing approval rates and boosting sales. As contractors have access to a wider range of financing options through ChargeAfter’s platform, they can handle the financing aspect seamlessly, enhancing the overall customer journey.

A Look Into ChargeAfter and Foundation Finance

ChargeAfter offers a pioneering embedded lending network dedicated to point-of-sale consumer financing. With backing from major investors such as Visa, Citi Ventures, and Synchrony Financial, ChargeAfter's technology delivers a secure, reliable platform that simplifies credit distribution. Merchants can integrate the platform into various sales channels, from online to in-store, allowing for personalized financing solutions tailored to each customer's situation.

On the other hand, Foundation Finance, established in 2012, focuses on point-of-sale financing programs specifically tailored for home improvement industries. Operating in all 50 states, Foundation Finance serves a vast network of over 13,000 contractors and countless homeowners, making it an integral player in the home improvement financing landscape.

With these two companies working together, the landscape for home improvement financing is set to transform, making it easier for homeowners to access necessary funds while empowering contractors to offer competitive, simplified solutions. This partnership not only represents a step forward in home improvement financing but also sets a precedent for other industries to consider similar collaborative models.

For those interested in exploring these financing options, ChargeAfter and Foundation Finance present an exciting opportunity to redefine how consumers approach home improvement projects.