ProPower Signature


ProPower Signature

ProPower Signature is a proprietary financing program offered through the Wholesalers’ and Distributors’ preferred contractors to their commercial or consumer customers.

Contractors close the sale by providing a financing alternative to their customer.  The Wholesaler then receives the business and is guaranteed payment and the contractor receives the net proceeds upon customer job acceptance.  ProPower Signature can also be used to provide showroom-financing options to customers.

Benefits of ProPower Signature

  • Wholesalers increase sales by providing financing tools to the contractor's customer.
  • Wholesalers can increase showroom sales by providing financing alternatives for showroom customers.
  • Approval by FMSI translates to guaranteed cash flow for the wholesaler and the contractor.
  • Wholesalers encourage repeat business by offering preferred contractors opportunities not available through competitors.
  • Wholesalers can compete with big box retailers by offering competitive financing programs with no risk to the Wholesaler.

Here’s How the Signature Program Works:

  • Wholesalers choose their preferred contractors to participate in the program.
  • Wholesalers and contractors are provided with marketing materials, applications and program rules.
  • Customers complete the ProPower Signature application, either online with an immediate credit decision, or via fax.
  • Upon approval, the contractor purchases supplies from the Wholesaler and starts the job.
  • Upon job completion, the customer signs a job payout authorization and FMSI pays both the Wholesaler and the contractor according to the loan closing statement previously approved by both parties.
  • The customer will receive monthly statements beginning the first month following payout of the loan closing.
  • Finance charges accrue from the date of the payout and job completion at an annual percentage rate of prime plus 12%.
  • The minimum monthly payment is 3%.
  • A late charge of $35 is assessed for each billing period in which the minimum payment is not received by the due date. A service charge of $35 is assessed if a check is returned for any reason.

See the ProPower Signature Program Guide for complete program details, terms, and conditions.

 

 

 

 

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