Contractor Provided Financing

[James Sloan]

I was wondering, can/do contractors sometimes provide customer financing for some final portion of a project, if it goes over-budget. For instance, if a customer pays reliably the first 40 K of a project's costs, are there some who would be willing to carry the last 20 K for the interest payments? A mechanic's lien would provide them security, and they would get more in the long run.

If so, how can I find them?

In my case, I really want to replace my cabin's vinyl with exterior split-log siding, but have only enough to finish the interior.

Thanks in advance.

[Don Konipol]

@James Sloan

I know of no contractor that can afford to finance his projects, at least in the residential arena. Sometimes you can get third part financing, usually at loanshark interest rates

[Reed Rickenbach]

I am beginning to offer this for home renovation clients. I do have a pile of cash to operate the business from selling some real estate. I'm offering 15% APR over 3, 6, 12 or 18 months. Clients seem to like it.