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Joist Financing

 
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Old 10-07-2018, 02:13 PM   #1
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Joist Financing


Anybody using this option?
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Old 10-07-2018, 09:07 PM   #2
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Re: Joist Financing


Not yet, but I would consider it.

Most of my jobs are <$4000. I take e payments from Joist. Iíd rather have the 3%, so I add a bit before giving the option in the estimate.

It takes a day or two to get money in the account after they pay, but I donít care. Iíll sometimes have undeposited checks sitting on the table for weeks.

Iíve only done a couple of roofs this year. Offering financing would certainly help encourage some people to do the bigger ticket items like that. Certainly more convenient for them than applying for a HELOC or a refinance.

Convenient enough they may do the siding or the paint, now or down the road, with me. A monthly payment to me would keep me on their radar.

I did allow one homeowner to make payments on a $2500 job. It was kind of fun to get a $500 check each month for a job done long ago.






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Old 10-08-2018, 10:29 AM   #3
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Re: Joist Financing


I have never had a customer ask about financing. In the last week or two I recieved an email from Square that they are now offering the option.

You get your money from square, as usual and they handle the rest. I believe there may be a 10K limit per transaction though.

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Old 11-04-2018, 09:24 AM   #4
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Re: Joist Financing


I havenít used this. And I never click that button when I send the invoice. But the last few I have sent, Iíve noticed when the customer gets it, paying by credit card is automatically an option. If they click it, it says the option is not available and to wait for the contractor to send another bill.

Then joist sends me an email saying the customer wants the credit card option and I need to sign up for it.


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Old 01-06-2020, 11:25 PM   #5
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Re: Joist Financing


Avoid Joist Financing at all costs. I actually dropped them after 3 years of liking Joist due to a financing issue. Really the financing wasn't the issue. Joist changed their payment policy, and started holding bank transfers over $10,000 for 7 days. They didn't inform me of this, and after I shelled out $11,000 for materials... i found out that I would have to wait a week to get payed back. I don't generally let that amount of materials go unpaid for a week, and was pissed. Needless to say, I will never say anything good about Joist again. I use QB exclusively now, and take CC payments through square. I should have done that a long time ago, but I did like Joists platform. Get away from joist before they do you like they did me.
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Old 01-07-2020, 12:48 AM   #6
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Re: Joist Financing


Quote:
Originally Posted by Vroomancarpentr View Post
Avoid Joist Financing at all costs. I actually dropped them after 3 years of liking Joist due to a financing issue. Really the financing wasn't the issue. Joist changed their payment policy, and started holding bank transfers over $10,000 for 7 days. They didn't inform me of this, and after I shelled out $11,000 for materials... i found out that I would have to wait a week to get payed back. I don't generally let that amount of materials go unpaid for a week, and was pissed. Needless to say, I will never say anything good about Joist again. I use QB exclusively now, and take CC payments through square. I should have done that a long time ago, but I did like Joists platform. Get away from joist before they do you like they did me.
That has absolutely nothing to do with the homeowner financing
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Old 01-07-2020, 06:18 AM   #7
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Re: Joist Financing


One of my tenants switched to Square. It's a small retail business. He said he really likes it.
I don't think this applies to homeowner financing, but some customers have asked if I take credit cards. I don't, but some people like to get the airline miles.

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