Offer Financing
Quick Definition
Offering financing for countertop projects means giving homeowners the option to pay over time - typically through a third-party lending partner - instead of requiring the full amount upfront. For fabrication shops, financing removes the biggest objection to premium materials and larger projects, increasing average ticket size without adding risk to your business.
TL;DR
- 60-70% of homeowners consider financing when a home improvement project exceeds $3,000
- Shops that offer financing report 15-30% higher average ticket sizes on financed jobs
- SlabWise integrates with consumer financing platforms so customers can apply directly from your quote or portal
- You get paid in full at completion - the lending partner handles monthly collections
- No financial risk to your shop - approved applicants are the lender's responsibility
- Financing options display directly in the Customer Portal alongside your quote
- Available with SlabWise Standard ($199/month) and Enterprise ($349/month)
Why Financing Matters for Countertop Sales
A typical countertop project runs $3,000-$8,000 for a kitchen. Upgrades to premium materials push that to $8,000-$15,000. For many homeowners, that's a significant expense - and the price tag is the most common reason people choose a cheaper material, reduce the scope, or delay the project entirely.
Financing changes that conversation. Instead of "$7,500 due at install," the homeowner hears "$125/month for 60 months." The same project suddenly fits into a monthly budget.
The Numbers
| Metric | Without Financing | With Financing Available |
|---|---|---|
| Average kitchen project value | $4,500 | $5,800-$6,200 |
| Close rate on quotes over $5,000 | 18-22% | 28-35% |
| Upsell to premium material | 15% of customers | 30-40% of customers |
| Projects delayed or cancelled (price) | 25-30% | 12-18% |
| Customer satisfaction score | Good | Higher (less payment stress) |
Those numbers come from industry surveys of home improvement financing. The pattern is consistent: when monthly payments are an option, people buy more and buy better.
Real Math for a Fabrication Shop
Take a shop closing 40 kitchen jobs per month at an average of $4,500 = $180,000/month in revenue.
If 25% of customers use financing, and financed jobs average $5,800 (because they choose better materials or add a backsplash):
- 30 non-financed jobs at $4,500 = $135,000
- 10 financed jobs at $5,800 = $58,000
- New monthly total: $193,000
- Increase: $13,000/month or $156,000/year
Subtract the financing fees (typically 3-8% of the financed amount, paid by you or split with the customer), and you're still netting $8,000-$11,000/month in additional revenue.
How Financing Works in the Countertop Industry
Let's clear up the mechanics, because many shop owners assume offering financing is complicated. It's not.
The Three Parties
- Your shop - You provide the countertop work and get paid
- The homeowner - They receive the countertops and make monthly payments
- The lending partner - They approve the loan, pay you, and collect from the homeowner
The Process
Step 1: Customer sees financing option. Your quote (in SlabWise or on paper) includes a "Monthly Payment" estimate alongside the full price. Something like: "$6,200 or as low as $103/month."
Step 2: Customer applies. Through the SlabWise Customer Portal, the customer clicks "Apply for Financing" and fills out a brief application. This is handled by the lending partner - you never see their financial details (SSN, income, etc.).
Step 3: Approval (usually instant). Most consumer financing platforms give a decision in under 60 seconds. The customer receives their approved amount and terms.
Step 4: Project proceeds. You template, fabricate, and install as normal.
Step 5: You get paid. The lending partner pays you the full project amount (minus their fee) within 1-3 business days after project completion. The customer's monthly payments go to the lender, not to you.
What About Risk?
Zero risk to your shop. Once the customer is approved and the project is completed:
- The lender pays you
- If the customer defaults on payments, that's between them and the lender
- You don't carry receivables, chase late payments, or absorb bad debt
This is fundamentally different from offering in-house payment plans, where you carry all the risk and collection burden.
How SlabWise Integrates Financing
SlabWise doesn't operate as a lender. Instead, it connects with established consumer financing platforms that specialize in home improvement lending. Here's how it works within the platform:
Quote Presentation
When you generate a quote through Quick Quote, financing terms appear automatically:
Kitchen Countertops - Calacatta Quartz
Total: $6,200
Or finance from $103/month (60 months, 7.99% APR*)
[Apply for Financing] button
The monthly payment estimate is generated based on the lending partner's current rates and terms. The customer sees this in the portal alongside the standard quote.
Application Flow
The "Apply for Financing" button opens the lender's application within the portal - the customer never leaves your branded experience. They fill in their info, get approved, and the approval links back to the SlabWise job.
Payment Tracking
SlabWise records whether a job is being financed, the approved amount, and the expected payment from the lender. Your financial reporting distinguishes between cash/check payments, credit card payments, and financed jobs.
Setting Up Financing: What It Takes
Choose a Lending Partner
Several consumer financing platforms work well with countertop shops:
- GreenSky - Popular with home improvement contractors, widely recognized
- Synchrony - Large network, competitive rates
- Hearth - Specifically built for home service contractors
- Wisetack - User-friendly application process
SlabWise integrates with major platforms. You apply with the lender, get approved as a merchant (usually 1-3 business days), and connect the account to your SlabWise portal.
Configure Your Financing Display
Decide how you want financing presented:
- Show monthly payment on every quote (recommended)
- Show financing only on quotes above a threshold (e.g., $3,000+)
- Offer multiple term lengths (36, 48, 60 months)
- Include promotional rates (e.g., 0% APR for 12 months if your lender offers this)
Train Your Sales Team (30 minutes)
Your team needs to know:
- How to mention financing naturally in conversations ("We also offer monthly payment options if that's helpful")
- How the application process works (so they can walk a customer through it)
- That they should never pressure a customer into financing - it's an option, not a requirement
- That they never handle customer financial information - the lender's platform does that
Understanding Financing Costs
Financing isn't free for the merchant. Here's what you'll typically pay:
| Fee Type | Typical Range | Example (on a $6,000 project) |
|---|---|---|
| Merchant discount rate | 3-8% | $180-$480 |
| Promotional rate buydown (0% APR offers) | 8-15% | $480-$900 |
| Monthly platform fee | $0-$50/month | $0-$50 |
| Per-transaction fee | $0-$25 | $0-$25 |
Most shops treat the merchant discount rate as a cost of doing business - similar to credit card processing fees. The higher-cost promotional rates (0% APR for 12 months) are best reserved for large projects where the increased ticket size more than offsets the fee.
Cost vs. Benefit Analysis
On that $6,000 project with a 5% merchant discount:
- You receive $5,700 from the lender
- Without financing, the customer might have bought the $4,500 option
- Net gain: $1,200 in additional revenue (even after fees)
The financing fee is almost always justified when it enables a sale you wouldn't have made otherwise, or when it moves the customer to a higher-value project.
Who Benefits Most from Financing Options
Not every customer needs financing. Here's where it makes the biggest difference:
Young Homeowners (First-Time Buyers)
They've just stretched their budget to buy a house. The kitchen needs updating, but there's no $8,000 sitting in savings. Monthly payments make it possible.
Remodelers Doing Multiple Rooms
A customer redoing the kitchen and two bathrooms might have budget for the kitchen but not the bathrooms. Financing the whole project lets them complete everything at once - better for them, better for your ticket size.
Customers Choosing Between Materials
"I love the marble, but the granite is $2,000 less..." Financing eliminates the price gap in monthly terms. The difference between $75/month and $108/month is easier to absorb than a $2,000 lump sum.
Insurance or Emergency Replacements
Water damage, fire restoration, or other insurance claims often have gaps between what insurance covers and what the homeowner wants. Financing bridges that gap.
Common Objections from Shop Owners
"My customers pay in full - they don't need financing." Some do. But you're not seeing the customers who never called because they assumed they couldn't afford it, or the ones who chose a cheaper material because the premium option felt like too much at once.
"The fees eat into my margin." They do, slightly. But if financing enables a $6,000 sale that would have been a $4,500 sale (or no sale at all), the net margin is higher, not lower.
"It's too complicated to set up." It takes about a day to get approved with a lending partner and an hour to configure in SlabWise. After that, it's automatic.
"I don't want to deal with customer debt issues." You don't. The lending partner handles everything after approval. If a customer can't pay, they deal with the lender. You've already been paid.
"What if a customer gets denied?" About 40-50% of applicants are approved, depending on the lender and your customer base. For those denied, you simply proceed with the standard payment terms. Nothing changes for them.
Frequently Asked Questions
Do I need a special license to offer financing?
No. You're not the lender. You're a merchant partner of the lending platform. They hold the licenses and regulatory compliance.
How long does it take to get approved as a merchant?
Typically 1-3 business days. The lending partner reviews your business credentials and sets up your account.
What credit scores do customers need?
This varies by lender. Most approve customers with scores of 600+ for basic terms. Premium rates (lower APR) typically require 680+.
Can I offer financing for commercial projects?
Most consumer financing platforms are for residential customers. For commercial projects, you'd need a separate commercial lending arrangement.
Do I have to offer financing on every job?
No. You control when and how financing is presented. Some shops only show it on quotes above $3,000. Others include it on everything.
What if a customer finances a job and then requests a change order?
Change orders can be financed as an amendment to the original loan or handled separately. This depends on the lending partner's process.
How quickly do I get paid after installation?
Typically 1-3 business days after marking the project complete, depending on the lender.
Can I pass the financing fee to the customer?
Some lenders allow this as a surcharge, and some states restrict it. Check with your lending partner and local regulations.
Does the financing show up on my quote as a separate line item?
No. The quote shows the total price and the monthly payment option. The merchant fee is handled behind the scenes between you and the lender.
What if a project is cancelled after financing approval?
If the loan hasn't been funded (i.e., the work isn't complete), there's no charge to you or the customer. The approval simply expires.
Can customers pay off the loan early?
Most consumer financing loans allow early payoff with no penalty. This is between the customer and the lender.
Do I need to advertise the financing terms with specific disclosures?
Yes. Lenders provide the required disclosure language (APR, terms, conditions). SlabWise includes these automatically on portal-generated quotes.
Close More Jobs by Making Them Affordable
Price is the biggest barrier to premium countertop sales. Financing removes that barrier for your customers without adding risk to your business. SlabWise makes it as simple as a button on your quote.
Start your 14-day free trial → No credit card required. Connect your financing partner in minutes.
Sources
- Joint Center for Housing Studies, Harvard University - Home Improvement Financing Trends (2025)
- Freedonia Group - U.S. Countertop Market Analysis ($22.1B market)
- National Kitchen & Bath Association - Consumer Financing in Kitchen and Bath Remodeling
- Hearth.com - Home Improvement Financing Industry Report (2024)
- GreenSky Merchant Data - Ticket Size Impact of Financing Options
- SlabWise Internal Data - Financed Job Performance Metrics (2025)
- Federal Reserve - Survey of Consumer Finance and Home Improvement Spending
- Remodeling Magazine - "The Finance Factor in Project Close Rates" (2025)
Internal Links
- Speed Up Quoting - Fast quotes with financing terms built in
- Automate Customer Updates - Keep financed customers informed throughout the project
- Pricing FAQ - SlabWise plan details
- Countertop Materials FAQ - Material options that customers finance most often
- Starting Business FAQ - Business setup considerations including payment options