12 Minutes That Closed a $45K Deal
2:47 PM - A Text Message Story
How 12 minutes changed everything for one contractor and why financing speed matters more than you think.
ACT 1: THE OPPORTUNITY
Tuesday, October 15th - 2:47 PM
Rob (Crew Leader)
2:47 PM
Mike, you sitting down?
Mike (You)
2:47 PM
What's up? Job site okay?
Rob
2:48 PM
Better than okay. Mrs. Henderson wants to move forward.
The full bathroom renovation. $45,000.
Mike
2:48 PM
That's great news! When does she want to start?
Rob
2:49 PM
Here's the thing…
She needs financing.
And she says she wants to decide TODAY.
She's meeting with two other contractors this week.
Mike
2:49 PM
Got it. I'm on it.
Sending her the application link now.
Rob
2:50 PM
You sure? Last time with the Ramirez kitchen we waited almost a week, and they ghosted us.
I don't want to lose this one man.
Mike
2:51 PM
Trust me. Things are different now.
Give me 15 minutes.
ACT 2: THE GHOST OF DEALS PAST
[FLASHBACK – Three months ago]
Mike
July 18, 4:23 PM
Just submitted Martinez kitchen reno financing app.
$62K project - this is our biggest one yet.
Sarah (Business Partner)
July 18, 4:25 PM
Nice! How long until we hear back from the lender?
Mike
July 18, 4:26 PM
They said 24–48 hours.
Martinez is excited, wants to start next week.
[24 HOURS LATER]
Sarah
July 19, 5:12 PM
Anything from the lender yet?
Mike
July 19, 5:45 PM
Nothing. Left two voicemails.
Martinez is texting me asking for updates.
What do I even tell her?
Sarah
July 19, 5:47 PM
Tell her we're waiting on the lender.
What else can we do?
[NEXT DAY]
Mike
July 20, 11:34 AM
Finally heard back.
DECLINED.
Credit score is 680; they need 700+.
Sarah
July 20, 11:36 AM
Are you kidding me? 680 is decent!
What now?
Mike
July 20, 11:38 AM
Trying another lender now.
Starting the whole process over.
Mike
July 20, 11:39 AM
Mrs. Martinez is asking if she should talk to other contractors while we wait.
I can feel this slipping away.
[THREE DAYS LATER]
Mike
July 23, 3:15 PM
Another lender finally responded.
Approved, but at 11.9% interest.
Monthly payment is $890.
Sarah
July 23, 3:16 PM
That's really high. Will she go for it?
Mike
July 23, 3:45 PM
She's not responding to my calls.
[NEXT DAY]
Sarah
July 24, 9:12 AM
Did Martinez ever call back?
Mike
July 24, 10:03 AM
Yeah. She went with another contractor.
They got her approved faster and with better terms somehow.
We just lost $62,000.
Sarah
July 24, 10:05 AM
I'm so tired of losing deals to financing issues.
There has to be a better way.
ACT 3: THE NEW GAME
Back to present — Tuesday, October 15th - 2:52 PM
Mike
2:52 PM
Mrs. Henderson, this is Mike from Northwood Home Improvements.
Here's your financing application link: [FinMkt Application]
Takes about 3 minutes to complete. Let me know once you submit it.
Mrs. Henderson
2:54 PM
Got it, filling it out now.
Mike (to Rob)
2:54 PM
Application sent. She's filling it out.
Rob
2:55 PM
And then we wait for days like last time?
Mike
2:55 PM
Just watch.
Mrs. Henderson
2:56 PM
Done! That was surprisingly easy.
Now what?
Mike
2:56 PM
Now you wait about 2–3 minutes.
You'll get your offers directly.
Mrs. Henderson
2:57 PM
Offers? Plural?
Mike
2:57 PM
Yep! The application goes to multiple lenders at once.
You'll see all the options you qualify for.
Mrs. Henderson
2:58 PM
Wait… I already have offers.
FOUR of them??
How is this even possible?
Mike
2:59 PM
That's the FinMkt platform we use now.
One application, multiple lenders review it simultaneously.
You get to choose what works best for your budget.
Mrs. Henderson
3:00 PM
I’m looking at them now:
Option 1: 6.9% interest, $638/month for 84 months
Option 2: 7.4% interest, $521/month for 108 months
Option 3: 8.2% interest, $595/month for 96 months
Option 4: 9.1% interest, $489/month for 120 months
Mrs. Henderson
3:01 PM
This is wild. I can actually COMPARE and choose?
I was so nervous about this.
My credit isn't perfect - I didn’t think I'd even get approved.
Mike
3:02 PM
That's exactly why we switched to this system.
Different lenders have different criteria.
Some focus on credit score, others look at income stability, debt-to-income ratio, etc.
So even if one lender says no, others might say yes.
We want EVERY customer to have options.
Mrs. Henderson
3:04 PM
Okay I’m going through the details.
Option 2 looks perfect — fits my monthly budget.
And 108 months gives me breathing room.
Mrs. Henderson
3:05 PM
Just accepted Option 2!
So… when can we start? 😊
Mike
3:06 PM
I'll have Rob reach out tomorrow morning to schedule the start date.
Welcome to the Northwood Home Improvements family, Mrs. Henderson!
Mrs. Henderson
3:06 PM
Thank you! I was dreading this process.
This was actually… easy?
I'll tell my sister, she’s been putting off her kitchen remodel because of financing stress.
ACT 4: THE REALIZATION
Mike (to Sarah)
3:08 PM
Closed Henderson.
$45K bathroom renovation.
Sarah
3:08 PM
ALREADY??
You sent the app like 20 minutes ago.
Mike
3:09 PM
12 minutes from application to approved and accepted.
She had 4 offers to choose from.
Picked the one with the monthly payment that fit her budget.
Sarah
3:10 PM
I still can't believe how fast this is.
Remember Martinez?
Mike
3:10 PM
Don't remind me.
That was $62K walking out the door because we were stuck waiting on one lender.
Sarah
3:11 PM
How many deals do you think we lost before we switched to FinMkt?
I'm looking at our old pipeline:
Thompson - lost to financing delays
Patel - credit score rejection, didn’t try another lender
Chen - took too long, went with competitor
Davidson - never heard back from the lender in time
Mike
3:12 PM
Stop. It hurts to think about.
But look at THIS month since we switched.
Mike [Screenshot of dashboard]
3:13 PM
Applications submitted: 23
Funded deals: 21
Approval rate: 91%
Average time to offers: 4 minutes
Sarah
3:14 PM
91% approval rate???
We were at like 60% before.
Mike
3:15 PM
Because we have multiple lenders reviewing every application.
Prime credit customers get amazing rates.
Sub-prime customers still get options.
Everyone wins.
Sarah
3:15 PM
I'm never going back to single-lender applications.
Never.
Mike
3:16 PM
Same. This is how financing should have always worked.
THE BREAKDOWN: WHAT JUST HAPPENED?
If you've been in the home improvement business for more than a month, you know the pain. The waiting. The ghosting. The "your customer doesn't qualify" rejections that kill deals you've spent weeks nurturing.
For years, contractor financing looked like this:
The Old Way:
- Customer needs financing
- You submit to one lender
- Wait 24-48 hours (or longer)
- Hope they qualify
- If rejected, start over with another lender
- Repeat until approved... or until customer ghosts you
- Watch deals die from financing friction
Mike's flashback wasn't fiction. It's the reality thousands of contractors face every single week. Good customers. Solid projects. Lost revenue. All because the financing process was built for lender convenience, not contractor success.
The FinMkt Difference:
FinMkt's multi-lender platform flips the entire model:
One Application → Multiple Lenders → Multiple Offers → Minutes, Not Days
Here's what actually happens when a customer submits a financing application through FinMkt:
- Single Application: Customer fills out one simple form (takes 3-5 minutes)
- Simultaneous Distribution: That application instantly goes to multiple lenders on the platform
- Parallel Review: Each lender reviews based on their own criteria—credit score, income, debt-to-income ratio, employment history, etc.
- Multiple Offers: Customer receives all the offers they qualify for within minutes
- Customer Choice: They review interest rates, monthly payments, loan terms, and choose what fits their budget
- Deal Closes: You move forward immediately
Why This Changes Everything for Contractors:
- Speed = More Closed Deals
In Mike's story, 12 minutes from application to acceptance isn't an exaggeration. That's the reality. While your competitors are still waiting for lender callbacks, you're scheduling start dates. - Higher Approval Rates = More Revenue
Every lender has different qualifying criteria. One lender might decline a 680 credit score. Another might approve it but focus on debt-to-income ratio instead. A third might specialize in that exact customer profile. By submitting to multiple lenders simultaneously, you're dramatically increasing the chance that SOMEONE says yes. Mike's 91% approval rate isn't luck, it's math. - Prime To Sub-prime Coverage = Bigger Market
Not every homeowner has an 800 credit score. But sub-prime customers still need bathrooms, kitchens, and roofs. With FinMkt's multi-lender platform, you're not turning away good people with decent credit who just don't fit one lender's narrow box. You're serving the entire spectrum, which means more contracts, more revenue, more growth. - Customer Control = Better Experience = More Referrals
Mrs. Henderson didn't just get approved, she got OPTIONS. She compared interest rates, monthly payments, and loan terms. She chose what worked for HER budget. That sense of control and transparency turns customers into raving fans. Notice how she immediately mentioned her sister? That's not a coincidence. That's what happens when you remove financing stress from the equation. - Less Stress = Better Business
Remember Mike's anxiety during the Martinez deal? The voicemails? The text saying "I can feel this slipping away"? That's gone. You're not chasing lenders. You're not managing customer anxiety during multi-day waiting periods. You're not losing sleep over deals dying in financing limbo. You submit, they choose, you build.
Why Aren't More Contractors Doing This?
Good question. Most contractors don't even know this technology exists. They assume single-lender applications are "just how it works." They've accepted 3-day waiting periods and 60% approval rates as normal.
But here's what's happening right now, while you're reading this:
- A homeowner is filling out a financing application through a contractor who uses FinMkt
- They're getting multiple offers in the next few minutes
- They're choosing one that fits their budget
- That contractor is scheduling a start date
- And somewhere else, another contractor is still waiting for a callback from their single lender
- That deal is about to die
The contractors who adapt first are the ones who win. Mike adapted. His competitor didn't. Mike got the Henderson bathroom. His competitor is still waiting.
FINAL SCENE: 3:47 PM
One hour after Mrs. Henderson submitted her application, Mike's phone buzzes one more time.
Mrs. Henderson
3:47 PM
Hey Mike - just told my neighbor Linda about your financing process
She wants a quote for her master bedroom addition
Can you give her a call?
That's what happens when you remove friction. When you give customers control. When you stop losing deals to financing delays.
The question isn't whether multi-lender platforms are the future of contractor financing.
The question is: How many more deals are you willing to lose before you make the switch?
Ready to stop losing deals to financing friction?
Visit finmkt.io to see how FinMkt's multi-lender platform can transform your close rate, approval speed, and customer experience, just like it did for Mike.
Because the next Mrs. Henderson is filling out an application right now.
The only question is: Will it be yours?
