Good news is slowly creeping back into the housing market but it will take some time before consumers are willing or able to spend like they did before the 
recession hit. And consumers are being especially cautious about spending on home renovation and improvement projects. To a large extent, homeowners are only spending on projects that are designed to increase a home’s value or to make repairs that can no longer be put off. But what if a homeowner wants to upgrade or repair swimming pool equipment? There’s a new financing program available this year that might tempt homeowners to take the plunge.
A recent report in Pool & Spa News highlighted the details of the GEOSmart Sustainable Financing Solutions program. Homeowners are eligible for loans of up to $25,000 for pool equipment. The program is designed to induce consumers to purchase energy-efficient products approved by the Electric & Gas Industries Association. Equipment eligible for the financing include solar pool heaters and the program will also cover the cost of materials and installation. Pool distributors and contractors are expected to offer the financing program nationwide, once they apply to the EGIA. Consumers can choose between deferred-interest or low-interest loans and FICO scores will play a role in determining who receives financing.
“The financing, in combination with energy-efficient products, should help close more sales and increase the amount per contract,” said Rick Mills, vice president of business solutions at Zodiac Pool Systems in Vista, CA. Pool dealers and distributors will also need to advertise this program in order to increase sales. As the busy pool season begins across the country, contact swimming pool vendors in your market to discuss the best way to advertise the financing program.
[Source: Robledo, Rebecca. New Program Finances Pool Equipment. Pool and Spa News. 31 Mar. 2010. Web. 29 Apr. 2010.]
Tuesday, May 4, 2010
Kathy Crosett