How To Offer HVAC Financing to Customers With Good or Bad Credit?

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How To Offer HVAC Financing to Customers With Good or Bad Credit?

Financing programs benefit both you and your customer. When it comes to your small business, offering financing can be a great way to increase your sales by meeting the needs of existing customers and attracting new ones. However, a lot of times, financing is only an option for homeowners who have good or perfect credit.

Spectrum AC by Microf is a technology platform that allows contractors to choose the financing companies you want to do business with and the financing and lease purchase products you want to offer your customers. One application for consumers across the entire credit spectrum delivered at the point-of-sale before you ever leave your customer’s house! Select your primary and second-look financing providers and programs, prequalify your customer for available offers, then complete and submit the application.

  1. Primary Financing Programs

These financing programs offer low-cost financing products for customers with good to excellent credit (typically FICO scores 680 and above), including introductory or promotional offers. Enroll with a primary financing company on the Spectrum AC platform or you can choose to continue using your current primary lender.

  1. Second-Look Financing Programs

It’s no secret that the majority of traditional financing companies will turn people down if they have less than perfect credit. These financing programs offer competitive financing products for customers with challenged to good credit (typically FICO scores 620 to 680, but sometimes as low as 600). If your customer is not pre-qualified for a primary financing offer, and you are enrolled with a second-look financing company, your customer may be pre-qualified for second-look financing offers.

  1. Lease Purchase Programs

Financing isn’t the only option to consider. There are also lease purchase programs – and we offer those too. Microf’s lease purchase program was designed for homeowners who prefer or need a pay as you go option that fits their situation. If your customer is not pre-qualified for a primary or second-look financing offer, he/she may be pre-qualified for a lease purchase offer. Microf will own the equipment until the customer pays the cost to own provided for in their written agreement or he/she can make the leased property available for pickup and terminate the agreement without penalty.. To learn more about SpectrumAC and how you can offer HVAC financing and lease purchase transactions to customers with good or bad credit, contact us at 855-642-7931 or visit us at

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