Payaca is a new app provider connecting home improvement businesses with third-party finance providers to give customers the option to pay on finance.
The company says homeowners can borrow up to £35k in just two minutes, with almost instant decisions, and customer payouts as fast as the same day.
CEO Matt Franklin said: “Four in five UK homeowners say access to finance heavily influences their decision to buy, and over half can’t afford the upfront cost of home improvement work worth more than £1,000.
“And now, with the economic uncertainty caused by coronavirus, people are crying out for more flexible, manageable ways to pay.”
Payaca also incorporates a CRM and job management system that integrates with popular accounting and invoicing platforms, and is accessible by phone, tablet or computer anywhere in the world.
Fees for use of the app tart at £7 a month for op to 15 quotes, increasing with use.
One early user is Sheffield-based Priory Home Improvements, whose director James sBurgess said: “We’d been asked by customers about finance before, but always put off looking into it because we assumed it would be a lot of hassle.”
“But when we discovered Payaca, we were shocked at how easy it could be. We’ve been able to make several big sales by making it easy for customers to spread the cost.”