Buildertrend partners with Nelnet Bank to provide homeowners financing directly through their general contractor

OMAHA, Neb. (5/7/2024) – Buildertrend, the leading construction management platform for home builders and remodelers, has added yet another service to their extensive line of financial offerings. This latest partnership with Nelnet Bank offers home improvement loans to help contractors secure more jobs by offering clients convenient payment options.

Buildertrend Financing powered by Nelnet Bank will be providing flexible loan options to homeowners via their contractors in Buildertrend. With exclusive rates and longer terms, homeowners can secure up to $150,000 to fund their remodel, addition or repair. This gives builders the opportunity to scale their businesses by securing more jobs and increasing project sizes.

“This partnership and service offering provides homeowners with streamlined access to essential construction project financing, enhancing their ability to undertake projects with confidence,” said Michael Vandevoort, senior manager of financial services at Buildertrend. “Simultaneously, builders stand to benefit from increased project opportunities and improved cash flow, ultimately fostering business growth and stability.”

As a leading financial management solution in the construction industry, Buildertrend knows the strains of securing financing in today’s challenging market. That’s why Buildertrend Financing was built for contractors with their clients’ needs in mind.

“Buildertrend is a company Nelnet Bank has known for a long time. We complement each other perfectly and have created an industry changing program. We are seeing extensive growth in the home improvement industry, and no one is closer to that space than Buildertrend. We believe together we can help customers complete the project of their dreams,” said Mark Heiser, Nelnet Bank chief development officer. Unlike a traditional home loan, funds secured through Buildertrend Financing will be drawn directly by the contractor. Homeowners aren’t burdened with the process of requesting draws, waiting for funds and then sending a payment to the builder — their project can keep moving on schedule without any delays.

Product features include:

• A quick and simple application
  By scanning a quick-response (QR) code or clicking a link on their proposal, a homeowner can fill out an application in minutes from the comfort of their device. No more endless paperwork or back-and-forth with the bank.
• Soft credit pulls
  Upon completion of the application, Nelnet Bank does a soft credit pull so homeowners can see offers with a variety of loan terms and the amount for which they qualify. This seamlessly converts into an application process so contractor and homeowner are prepared to launch their project.
• Quick and flexible funding directly to the contractor
  Following approval, the contractor requests funds at project milestones. Contractors have the flexibility to match disbursements according to each project’s needs. The homeowner confirms the draw through text, and the funds are sent to the contractor’s account.
• Integrated in Buildertrend
  Everything is managed directly in the Buildertrend platform. Contractors can even request and track financing right from an invoice.
• Ongoing support
  Buildertrend and Nelnet Bank will provide training materials and ongoing support to help contractors and homeowners throughout their financing journey.

Contractors can learn more about this program by reaching out to their Buildertrend representative.

About Buildertrend

Buildertrend is the leading residential construction management platform. Since 2006, Buildertrend has empowered contractors to take control of projects and bring efficiency, organization and seamless communication to every aspect of their business. Builders can stay on top of costs, supplies, staff and more in one convenient place – and take on more projects without adding paperwork and stress. For over 1 million users across 100 countries, Buildertrend has made it easy to run successful projects and deliver a five-star experience to homeowners. To learn more about Buildertrend, visit buildertrend.com and @buildertrend.

About Nelnet Bank

Nelnet Bank (Member FDIC and Equal Housing Lender) was founded to help families achieve their dreams with financial knowledge and access to education. Backed by Nelnet Inc., Nelnet Bank started by delivering funding options to students and families – but has graduated to do much more. Today, its list of products includes Private Student Loans, Student Loan Refinance, Home Improvement Loans, Business CDs, and High-Yield Savings Accounts – and they’re just getting started. Wherever your journey takes you, Nelnet Bank is by your side.