Chowder offers lease-purchase financing for water heaters, HVAC systems, water filtration, and storage units, enabling contractors to provide affordable options to homeowners with credit challenges. This program allows contractors to increase their sales by up to 30% through instant customer approvals and rapid funding, addressing the need for accessible home system replacements.
Funding
$26M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many homeowners with low or challenged credit scores struggle to secure financing for essential home systems like water heaters, HVAC units, and water filtration systems. This lack of access to affordable financing options can delay necessary replacements or repairs, leading to discomfort, inconvenience, and potential health hazards.
Solution
Chowder provides a lease-purchase financing program that enables contractors to offer flexible payment options to homeowners who may not qualify for traditional loans. This program allows homeowners to acquire essential home systems, such as water heaters, HVAC systems, water filtration, and storage units, through manageable lease payments. By partnering with Chowder, contractors can expand their customer base, close more deals, and increase sales by offering an alternative financing solution to credit-challenged customers. The company streamlines the financing process with instant customer approval decisions and rapid funding to the contractor upon project completion.
Target Audience
Chowder primarily targets home service contractors, particularly those specializing in water heaters, HVAC systems, and water filtration, who seek to expand their customer base by offering financing options to homeowners with less-than-perfect credit.
Features
- Lease-purchase agreements for water heaters, HVAC systems, water filtration systems, and storage units
- Instant customer credit approval process
- Rapid funding disbursement to contractors, often within 24 hours of project approval
- Dedicated contractor support team
- Integration with contractor sales processes to increase close rates
- Flexible payment options tailored to homeowners with credit challenges