Replies

1. 
   seeyou | Mar 10, 2009 07:10pm | #1

   I take credit cards.

   http://www.quittintime.com/      View Image        

2. 
   frammer52 | Mar 10, 2009 07:11pm | #2

   There is a thread on contractor talk.com that is discussing this.

    

   It is a good idea, but limited right now by banks.

3. 
   FingerJoint | Mar 10, 2009 08:05pm | #3

   I would do a couple of things.  First, I would have a sit down with your banker.  If you don't have a relationship with a banker, go to your local branch and talk to the person that does HELOC's.  I doubt they are as aggressive as they used to be, but it should be your first option.  Ask if you can refer your customers to him/her for financing.  Of course, they are looking for credit-worth customers.  You can also go to a local finance company that specializes in loans to riskier borrowers.  The key is to develop a relationship.  Take them to lunch.  Get a feel for what they are looking for in a credit. 

   Taking credit cards is another option.  You just don't want to find out they are over their limit when you come for final payment.  I guess the same goes for empty bank account on a cash transaction. 

1. 
   gotfoam | Mar 10, 2009 08:31pm | #4

   I looked into the credit card thing and the 2% or 3% or more transaction charge on a 10K or 20K or 30K purchase is crazy. Do you know of any CC companies that charge lees per transaction?I am headed to my bank right now to make a deposit and will speak to them. Thanks to all for the input.

1. 
   seeyou | Mar 10, 2009 08:44pm | #5

   I looked into the credit card thing and the 2% or 3% or more transaction charge

   I raised my prices 5% and give a 2% discount for prompt cash or check payment. http://www.quittintime.com/      View Image        

2. 
   seeyou | Mar 10, 2009 08:46pm | #6

   One other note: I've been able to collect old debts by taking cards. I've had two instances where the customer got caught without enough cash to pay when the job was finished. Both times they paid with cards to avoid lawsuits. 3% seemed pretty cheap in those instances.http://www.quittintime.com/      View Image