Phone: Coming Q3-2018

Transcription

1 Phone: Coming Q3-2018

2 Who is Turns Financing? 1. Founded in 2011 and headquartered in Atlanta - Sales office in Orlando since Started offering 2 nd Look Financing - Expanded to Prime Financing 2017 Since our 2011 launch we proudly serve contractors from 2. Platform used by contractors to find, offer and close home improvement financing for almost any customer 3. Focused on simplifying consumer financing and providing contractors the programs they want and need. Newcontractor@turnsfinancing.com Phone:

3 How we simplify financing? One Stop Integrated Solution PRIME Credit Financing Credit Score > nd Look Financing Credit Scores 660 to 550 PACE Financing (FL, CA, MO only) Financing based on Home Equity not Credit Prime or 2 nd Look Smart Custom Solutions A. Display and offer the programs you want Four Affordable Loan Options 1. Low Monthly Payment Loan 2. Same-As-Cash Loan 3. Low Interest Rate Loan 4. Integrated 2 nd Look Loan Keep all other loans in back pocket to match competitors. B. Offer in a way that s most comfortable - Let customers apply themselves - Help customers apply - Access & offer financing from ANYWHERE

4 Why 2 nd Look financing? Say YES more often and increase financed sales up top 20% Potentially more with PACE (higher ticket, not credit dependent)

5 Ways to Access & Offer Turns Financing 1. Turns Mobile App: Contractor ID used to log into app is provided in Activation Click to Install Click to Install 2. Use Your SmartLink: Custom URL Provided in Activation Add financing Icon to Home Screen of any mobile device in seconds (no app download necessary) Add financing button to any webpage in minutes (instant contractor notification of credit decisions) or text your SmartLink to your customer to self-apply (instant contractor notification of decisions) Complete financing with your customers from your desktop or call center Contact: Office:

6 Mobile App vs Smart Links Turns Mobile App One-Time Login Scan drivers license or manually enter with autocompletion assistance. Complete remaining five fields (required) Select a loan program. Contractors can customize the programs displayed and the order of the list. Customer agrees to consent statements. Instant decision provided. Go to portal to close loan now or later.

7 Mobile App vs Smart Links SmartLink EXAMPLE: - Company ID customizes the URL - Company ID Also used for app login - Results instantly ed to contractor *Financing*

8 Turns Single Enrollment Process 1. Tell us which programs you want? - Prime Financing - 2 nd Look Financing - All Inclusive Program (full parts & labor coverage; customer selects monthly payment from $49/month to $249/month) - PACE Financing 2. Enroll based on your program selections. Click to start Enrollment Contact: TJ@Turnsfinancing.com Office:

9 Prime Consumer Financing (Benji Available in 39 States) Alaska Arkansas Arizona California Colorado Connecticut* Delaware* Hawaii Idaho Indiana Florida Georgia Illinois Iowa Kansas Kentucky* Maryland Michigan* Minnesota Mississippi Missouri Montana Nebraska* Nevada New Hampshire New Mexico North Carolina Ohio Oklahoma Oregon Pennsylvania South Carolina Tennessee Texas Utah Virginia Washington West Virginia Wyoming Phone:

10 PRIME PROGRAM #1 (Available through Turns/Benji Integration) TURNS FINANCING SERVICES All Inclusive Plan (9144) includes standard manufacturer parts warranty plus 10YR labor coverage (AIG) for complete peace of mind. 1. Customer selects monthly payment from the table below 2. RETAIL Amount is the LOAN Amount 3. Contractor is paid the DEALER FUNDED amount 4. Contractor should create install packages for each fixed monthly payment they plan to offer their customers. Packages offered should be based on Funded Amount and desired margin. Example: To earn 35% margin for an install with a $99 monthly payment and a $7,670 Dealer Funding, your total installed cost must be $4, (equals 65% of $7,670). 1 All pricing plans are subject to change at any time. 2 Minimum financed amount - $2,000 ($2,500 minimum in North Carolina) 3 Ten year parts and labor coverage is included in the loan amount along with program setup and AIG administration. Loan amount and contractor funding is based on selected monthly payment and can vary by contractor. See funding table or calculator provided. Click for Program Funding Calculator 4 No payments are required during the promotional period. Thereafter, substantially equal monthly payments are required for the remainder of the financing term (60 months) or until the unpaid balance of the amount financed is paid in full. Interest will accrue during the promotional period, but will be waived if the amount financed is paid in full prior to the expiration of the promotional period. APR for Special Financing Plans is 14.99%. CT, KY, MI, NE, PA applicants not eligible for special financing plans. Advertise Monthly Payment Tier Retail Dealer Funded* Dealer $49.00 $4,767 $3,291 Dealer choice regard $59.00 $5,740 $4,167 Dealer margin = fun $69.00 $6,713 $5,042 Sell annual mainten $79.00 $7,686 $5,918 Offer packages for a $89.00 $8,659 $6,794 $99.00 $9,632 $7,670 Advertise NEW Sys $ $10,605 $8,545 $ $11,578 $9,421 Offer a Split $ $12,550 $10,297 You will be fu $ $13,523 $11,172 For a 40% prof $ $14,496 $12,048 Profit $ $15,469 $12,924 $ $17,415 $14,675 Add annual mai $ $19,361 $16,427 $ $20,334 $17,302 Customer loan in $ $22,280 $19,054 Monthly paym $ $24,225 $20,805 Warranties Contractors do NOT have to offer all payment options (suggest offering 7 to 10 Payment Tiers)

11 Benji Expansion States ready for applications Alaska Arkansas Arizona California Colorado Connecticut* Delaware* Hawaii Idaho Indiana Florida Georgia Illinois Iowa Kansas Kentucky* Maryland Michigan* Minnesota Mississippi Missouri Montana Nebraska* Nevada New Hampshire New Mexico North Carolina Ohio Oklahoma Oregon Pennsylvania South Carolina Tennessee Texas Utah Virginia Washington West Virginia Wyoming Turns-Benji is available Coming Soon AK HI * CT, KY, MI, NE, PA: No Special Financing As of 8/27/2018

12 Be the first in your market to Advertise $59, $79 or $99 per month replacement system with lifetime parts and labor coverage. All Inclusive Consumer Financing for applicants with prime credit. Full Parts & Labor coverage for up to 10- Years included in the financing. Program Features Dealer creates install packages for each monthly payment tier. Dealer choice regarding equipment, accessories and services for each package Customer chooses a monthly payment. Labor warranty provider AIG requires annual system maintenance which can be included or sold separately by contractor. Newcontractor@turnsfinancing.com Phone:

13 SUMMARY TURNS FINANCING SERVICES Prime Financing All Inclusive Program Term: 144 Payments Minimum Credit: 680 APR: 6.99% Payment Factor: 1.03% Dealer Cost: See Note Below No Prepayment Penalty Fixed Packages with Full Coverage Monthly Payment Tier Retail Dealer Funded* Dealer Creates Install Packages For Each Tier $49.00 $4,767 $3,291 Dealer choice regarding equipment, accessories and services $59.00 $5,740 $4,167 Dealer margin = funding amount less your installed package cost $69.00 $6,713 $5,042 Sell annual maintenance separately or include it $79.00 $7,686 $5,918 Offer packages for any of the monthly payments you prefer $89.00 $8,659 $6,794 $99.00 $9,632 $7,670 Advertise NEW System $99/Month w/full Parts & Labor Coverage $ $10,605 $8,545 $ $11,578 $9,421 Offer a Split Gas-Electric, Split AC, Split HP or Other? $ $12,550 $10,297 You will be funded $7,670 after installation (48-hours) $ $13,523 $11,172 For a 40% profit margin your installed cost must be $4,602 $ $14,496 $12,048 Profit = $3,068 which is ($7,670 - $4,602) $ $15,469 $12,924 $ $17,415 $14,675 Add annual maintenance contract to every install (it's required ) $ $19,361 $16,427 $ $20,334 $17,302 Customer loan including full coverage and POM will be $9,632 $ $22,280 $19,054 Monthly payment is $99 with NO pre-payment penalty $ $24,225 $20,805 Warranties backed by AIG (world's largest insurer) * Funded amount includes 10YR parts & labor warranty coverage and all fees and administration (Labor warranty provider AIG requires annual equipment maintenance) Note: Dealer must have a Florida 2-52 license to sell service warranties in Florida cost $55. Required for participation Contractor/Dealer must have the following to participate in service warranty sales. 1. Federal Tax Identification Number (FEIN) 2. Florida State 2-52 License (Florida Only) 3. Certificate of Insurance Workers Compensation and General Liability Insurance of $500, Dispatch Service Network, Workers Compensation and General Liability Insurance of $1,500, W-9 completed 6. USA Dealer Enrollment Form completed

14 24-Hour setup and integration to 2 nd Look if you already have an existing GSKY account. GreenSky Prime Consumer Financing for applicants with prime credit. Easy closing process as Customer is immediately presented with an account # and loan agreement. Customer pays Merchant using the account #. Merchant processes the payment just like a credit card. No certificate of completion or paperwork required for funding. You can complete a credit application in under 2- minutes. Simply scan the barcode on the back of applicants drivers license to capture name, address and DOB. Enter SSN, and household income to get an instant decision. Newcontractor@turnsfinancing.com Phone:

15 PRIME PROGRAM #2 (Turns/GreenSky Integration) Recommended minimum programs Full list on subsequent pages) TURNS FINANCING SERVICES PLAN # TERM ANNUAL PERCENTAGE RATE PAYMENT FACTOR MAX FINANCING PURCHASE DISCOUNT RATE RECOMMENDED FIXED PAYMENT PLANS YR 9.99% 1.57% $50k 1.00% + Merchant Fee YR 6.99% 2.13% $50K 7.00% + Merchant Fee YR 6.99% 1.20% $30K 9.00% + Merchant Fee RECOMMENDED SPECIAL FINANCING PLANS (No Interest, No Payment) Month No Interest/No Payment 2.21% $30K 2.75% + Merchant Fee Month No Interest/No Payment 2.32% $30K 5.25% + Merchant Fee Month No Interest/No Payment 2.42% $30K 8.75% + Merchant Fee Month No Interest/1.5% Payment 1.50% $30K 3.25% + Merchant Fee Month No Interest/No Payment 4.17% $30K 9.25% + Merchant Fee Merchant Fee: Customer is immediately provided an account number that is used to pay the contractor. Contractor processes the payment just like a credit cards. No certificate of completion or paperwork required for funding. Your standard card merchant fees will apply (generally 2% to 3%). Fixed 2% if credit card payments are processed through Turns Financing merchant partners. (3) For special financing plans interest accrues during the promotional period but all interest is waived. Payment factor for special financing applies to payments after the promotional period. Fastest and easiest consumer financing process in the industry Step 1: Apply for Credit - This fast, paperless application process can take less than 90 seconds. Step 2: Get Approved - 90% of credit decisions are made instantly. Most other credit decisions are made within fifteen minutes. Step 3: Get Funded - Customer is immediately presented with an account # and loan agreement. Customer pays Merchant using the account #. Merchant processes payment just like a credit card. No certificate of completion or paperwork required. Your standard card merchant fees will apply (generally 2% to 3%). Fixed 2% if card payments are processed through a Turns Financing merchant partner.

16 1. Customers have 120 days from application to complete purchases except where noted. 2. Customers have 180 days from application to complete purchases except where noted. Changing plans from a 4 month purchase window to a 6 month purchase window plan will require a reapplication and reapproval. 3. For deferred interest plans, interest accrues during the promotional period but all interest is waived if the purchase amount is paid in full before the end of the promotional period. 4. Applies to payments after promo and assumes lowest possible interest rate for plan. If two payment factors are displayed, the first is for payments required during the promo. 5. Payment card network processing fees may apply. 6. Actual payments based on usage. If full credit taken on approval date, payments will be first amount. If transaction is later, the amortizing monthly payments could be as high as the second amount. 7. Split tickets are not permitted. 8. Split tickets are prohibited. GreenSkyCredit.com/consumer Continued on next page Notes: ACH Return Fee/ Late Fee will be assessed on all returned ACHs. ACH Return Fee/ Late Fee is the greater of $30 or 5% of the payment amount. Split tickets permitted except where noted. Mon - Sat: 6:00 AM - 1:00 AM (ET) Sunday: 8:00 AM - 1:00 AM (ET) TURNS PROGRAM #762

17 1. Customers have 120 days from application to complete purchases except where noted. 2. Customers have 180 days from application to complete purchases except where noted. Changing plans from a 4 month purchase window to a 6 month purchase window plan will require a reapplication and reapproval. 3. For deferred interest plans, interest accrues during the promotional period but all interest is waived if the purchase amount is paid in full before the end of the promotional period. 4. Applies to payments after promo and assumes lowest possible interest rate for plan. If two payment factors are displayed, the first is for payments required during the promo. 5. Payment card network processing fees may apply. 6. Actual payments based on usage. If full credit taken on approval date, payments will be first amount. If transaction is later, the amortizing monthly payments could be as high as the second amount. 7. Split tickets are not permitted. 8. Split tickets are prohibited. Notes: ACH Return Fee/ Late Fee will be assessed on all returned ACHs. ACH Return Fee/ Late Fee is the greater of $30 or 5% of the payment amount. Split tickets permitted except where noted. Mon - Sat: 6:00 AM - 1:00 AM (ET) Sunday: 8:00 AM - 1:00 AM (ET) GreenSkyCredit.com/consumer TURNS PROGRAM #762

18 Fortiva 2 nd Look Consumer Financing for applicants with subprime credit or for applicants declined for non-credit reasons. Great for repair financing as all decisions are instant and we finance anything over $ Newcontractor@turnsfinancing.com Phone: You can complete a credit application in under 90-seconds. Simply scan the barcode on the back of applicants drivers license to capture name, address and DOB. Enter SSN, and household income to get an instant decision.

19 2 nd Look Financing & Repair Financing (Available through Integration with Fortiva) TURNS FINANCING SERVICES Integrated Second Look Pricing Repayment Terms Contractor Fee Monthly Payment Factor Integrated 2 nd Look behind both program #1 and #2 Tier Prime: $20k Max Loan 9.99% Variable APR 65-Months 9.90% 2.00% --- or Months with Payments Deferred Interest 12-Months 9.90% 3.00% Tier 1: $10k Max Loan 21.99% Fixed APR 48-Months 9.90% 3.15% --- or Months with Payments Deferred Interest 6-Months 9.90% 3.43% Tier 2: $7.5k Max Loan 24.99% Fixed APR 36-Months 9.90% 3.98% --- or Months with Payments Deferred Interest 6-Months 9.90% 4.24% Tier 3: $5k Max Loan 24.99% Fixed APR 36-Months 9.90% 3.98% --- or Months with Payments Deferred Interest 6-Months 9.90% 4.24% For Credit Scores down to 560 FICO Program Features No need to re-enter the credit application if the customer is declined. Simply select Get 2 nd Look and re-enter the social security number to get an instant decision. Instantly approves up to 40% of declined prime applicants nationwide. Get Funded: Upload a copy of your customer signed invoice to receive funding within two business days. Borrower does NOT need to be the homeowner. Great for repair financing: Minimum loan $400

20 Integrated 2 nd Look Loan Program Available Tier 0: $20k Max Loan Integrated 2 nd Look behind Benji or GreenSky No need to re-enter the credit application if the customer is declined. Simply select Submit 2 nd Look and re-enter the social security number to get an instant decision. Instantly approves 40% of declined prime applicants nationwide. - 15% to 20% approved for Tier-0 ($20k) - Equal approval split across remaining tiers - Max two loans per household (get two loans for a combined larger amount) Get Funded: Upload a copy of your customer signed invoice to receive funding within two business days. Borrower does NOT need to be the homeowner. Combine with any other financing or payment method. For Credit Scores down to 560 FICO Great for repair financing: Minimum loan $400

21 SUMMARY TURNS FINANCING SERVICES PACE Financing by HERO

22 SUMMARY TURNS FINANCING SERVICES HERO Rate Plans FL PACE Financing by HERO HERO - FL Rate Plan 1 Rate Plan 2 Rate Plan 3 Rate Plan 4 Rate Plan 5 Term Rate Fee Rate Fee Rate Fee Rate Fee Rate Fee % 0.00% 5.99% 1.99% 4.49% 6.99% 2.99% 9.99% 5.49% 3.49% % 0.00% 6.99% 1.99% 5.49% 6.99% 2.99% 12.99% 5.99% 5.49% % 0.00% 7.49% 1.99% 5.99% 6.99% 3.99% 12.99% 5.99% 6.99% % 0.00% 7.69% 1.99% 6.49% 6.99% 4.99% 12.99% 5.99% 9.99% % 0.00% 7.79% 1.99% 6.79% 6.99% 5.49% 12.99% 5.49% 12.99% County of Brevard: Cape Canaveral, Cocoa, Cocoa Beach, Grant-Valkaria, Indialantic, Indian Harbour Beach, Malabar, Melbourne, Melbourne Beach, Melbourne Village, Palm Bay, Palm Shores, Rockledge, Satellite Beach, Titusville, Unincorporated Area, West Melbourne County of Broward: Coconut Creek, Cooper City, Coral Springs, Dania Beach, Davie, Deerfield Beach, Fort Lauderdale, Hallandale Beach, Hillsboro Beach, Hollywood, Lauderdale Lakes, Lauderdale-by-the-Sea, Lauderhill, Lazy Lake, Lighthouse Point, Margate, Miramar, North Lauderdale, Oakland Park, Parkland, Pembroke Park, Pembroke Pines, Plantation, Pompano Beach, Sea Ranch Lakes, Southwest Ranches, Sunrise, Tamarac, Unincorporated Area, West Park, Weston, Wilton Manors County of Charlotte: Punta Gorda, Unincorporated Area County of Collier: Unincorporated Area County of Escambia: Pensacola County of Hernando: Unincorporated Area County of Hillsborough: Unincorporated Area County of Lee: Cape Coral County of Leon: Tallahassee, Unincorporated Area County of Levy: Unincorporated Area County of Manatee: Unincorporated Area County of Miami-Dade: Doral, El Portal, Hialeah, Miami, Miami Beach, Miami Gardens, Miami Springs, North Miami, North Miami Beach, Pinecrest, Unincorporated Area County of Nassau: Fernandina Beach County of Orange: Apopka, Orlando, Winter Park County of Palm Beach: Atlantis, Belle Glade, Boca Raton, Boynton Beach, Briny Breezes, Cloud Lake, Delray Beach, Glen Ridge, Golf, Greenacres, Gulf Stream, Haverhill, Highland Beach, Hypoluxo, Juno Beach, Jupiter, Lake Clarke Shores, Lake Park, Lake Worth, Lantana, Loxahatchee Grove, Manalapan, Mangonia Park, North Palm Beach, Ocean Ridge, Pahokee, Palm Beach, Palm Beach Gardens, Palm Beach Shores, Palm Springs, Riviera Beach, Royal Palm Beach, South Bay, South Palm Beach, Tequesta, Unincorporated Area, Wellington, West Palm Beach, County of Pasco: Unincorporated Area County of Seminole: Longwood, Oviedo

23 Labor Warranty Provided by AIG. World s largest Insurer Starts 31 st day after install (5YR & 10YR Options) $85 Labor Rate; $65 Trip Charge; $75 Small Parts Allowance Installing Contractor Always Owns The Customer Program details at