Ideal4finance funding option

[Kewat66]

Hi All,

just wondering if anyone out there have heard or have had dealings with this firm?
I have been approached and the idea looks very good but as with all these things very sceptical at this moment in time. Would really appreciate if anyone had any dealings with this firm, is it any good, does the scheme work or is it rubbish etc
Any information would be gladly received.
they apparently offer finance for DIY home projects i.e. central heating, boilers, bathrooms etc and offer a range of credit options for all people (good & bad credit)
thanks
kewat66

 

[oz-plumber]

From what you have described about this firm, they would offer loans at the roulette or blackjack tables at a casino.

If you have been offered a loan from a company, that most other lending facilities won't give you, take a deep breath (or three) and decide how desperate you are.

How did you get in contact with them - or did they contact you?

 

[Kewat66]

I was looking into ways of being able to offer potential clients a finance option similar to that of British Gas as in a lot of cases work can be won on this being offered an not just price.
They did contact me. They can add a link to your website ( once signed up ) and your clients sort the loan out themselves with them. You then get the agreed price for the job from the client. You have nothing or earn nothing from the finance.

 

[oz-plumber]

If that's the way it is, then I would be looking for a cut on providing finance to your customers.

So they want you to find customers that require finance for works and expect you to do the work, find finance for your customers through them, and don't get a cut.

Could work if you got paid within 7 days, but I'm sure this is not how they will determine paying you.

They way they work is that they set up loan application fees and so on, and they get trailing commission throughout the life of the loan.

I would forget all that carp and get an upfront fee for providing them customers requiring loans.
Or set it up that you get a 200 or 300 quid spotters fee and let them take the rest.

But set it up that you get your spotters fee as soon as the client has signed up.

Prior to starting work - get a deposit 30% - 50 %. prior to starting works.
Final Payment - 7 days.

That's the way they work - and don't offer anything unless you get a cut.
The less you offer - the more they make.
Play hardball and see what you can get - they will end up making more out of the job that you will - Remember that!!!!

 

[smtplumbing]

buddy we have signed up for it, its not easy but i can help you out as much as i can,

Are you vat registered

 

[Kewat66]

buddy we have signed up for it, its not easy but i can help you out as much as i can,

Are you vat registered

No not vat registered. Has it worked for you at all?

 

[smtplumbing]

you will not be able to get the ideal finance, its just started but alot of rules bud

 

[CES]

I looked at them a couple of years back, they cold called me and it sounded good, the only thing was there was a fee involved which put me off. The idea is sound, they pay you, the customer pays them for their loan. It's been a while but as far as I remember the fee was the deal breaker for me. Smtplumbing will be able to help you more than me.

 

[kay-jay]

Hi All,

just wondering if anyone out there have heard or have had dealings with this firm?
I have been approached and the idea looks very good but as with all these things very sceptical at this moment in time. Would really appreciate if anyone had any dealings with this firm, is it any good, does the scheme work or is it rubbish etc
Any information would be gladly received.
they apparently offer finance for DIY home projects i.e. central heating, boilers, bathrooms etc and offer a range of credit options for all people (good & bad credit)
thanks
kewat66

we looked at this about 18 months ago. we googled ideal4finance plumbers and found about 5 or 6 businesses. rung them all to ask how it was working out. not one had picked up business from it

 

[Ermintrude]

It's a bit difficult as you need to build 20% on top of cost . So even your cash price is deemed high as legally they can't front load charges?

 

[smtplumbing]

best way to say it they take 10% percent of the cost of any job, but we just add it on wyou need to pay a yearly fee and you also need a other phone line plus vat registered, i am not vat registered but my cousin is but it both of us that deal with it

Its a fixed rate 9.9 about depending on credit limit no deposit needed you price the job which can include boiler or full install then add there con mission on to the top of the bill, you call them pass the customer to them there are either approved or declined.

Also they offer a lead line that you can buy leads of them. we are mega snowed under that we have not have time to sort things out to promote it like we should