Deductible Funding is uniquely positioned to help Pro Contractors & Homeowners complete their deductible needs right on the spot, using a simple QR code.
With over 50 years of banking, finance and contractor experience, we provide documentation for all parties to meet insurance compliance regulatory needs seamlessly.
Some of our Insurance Contractor clients refer to Deductible Funding as “financing in reverse”. The homeowner is reluctant to pay the required $1,000+ on the spot to close your sale and does not want the hassle of a credit application.
To win the contract you would reluctantly waive it and absorb that modest reduction in profit.
But now it may be illegal. With no credit check or lengthy application, and no interest charged to your customer, Deductible Funding allows you to sign up a customer on the spot for small monthly payments. This helps you stay in compliance and get paid with only a 5.99% processing fee (but that part is usually just icing on the cake for these circumstances).
For example in Texas, under the law, HB2102, effective September 1, 2019, violators could get up to a $2,000 fine and up to six months in jail.
If a contractor offers to waive a deductible, report it to the Texas Attorney General’s Consumer Protection Hotline at 800-621-0508.
“With just one extra deal per year, Deductible Funding’s $39.99 subscription paid for itself, and now we have a pipeline of payments coming in. One of our sales reps is getting almost $1900 per month in payments that he used to just waive. Thanks for helping us avoid the hassle of banks and loans!”
Kevin R. Kansas City
“And it seemed like nobody wanted to fill out credit applications for financing. Deductible Funding makes it easy for our people to stop missing sales and we only pay the processing fee and our monthly $39 subscription.”
Steve W. Oklahoma City
“Deductible Funding solved the revenue side of the equation by ensuring our homeowners have the means to meet their insurance deductible obligations through a simple paperless process, with no credit checks.”
Fernando Y. San Antonio
“We found Deductible Funding and for a minimal monthly subscription, we are now collecting our deductibles seamlessly, and we have no worries in remaining legal.”