Microf, LLC, a leading provider of lease-to-own products for the residential heating, ventilation and air conditioning (HVAC) industry, announced today that it has launched SpectrumAC, a single platform for financing and lease purchase options for homeowners. The SpectrumAC solution allows homeowners to complete a single application and obtain an immediate approval decision for a menu of financing and lease-to-own payment options.
“We invested in and built the SpectrumAC platform to address the many challenges we’ve heard from HVAC contractors over many years,” said Microf’s Chief Revenue Officer, Paul Citarella. The platform provides fast approval decisions for HVAC and other home services using a single mobile application. The user interface is simple and supports a seamless homeowner and contractor experience. The platform is secure and agile enough to quickly connect with other contractor centric software providers through easy and fast APIs, allowing for integration with tools contractors use every day, like CRM or proposal software.
As an early user of SpectrumAC, AAA Heating and Air of Lexington, SC immediately saw benefits to this new platform. “Spectrum AC’s technology is easy to use and homeowner friendly. My sales techs can quickly get a homeowner pre-approved for financing or lease-purchase options based of their current credit standing. SpectrumAC is the financing platform I have been waiting for since I started this company,” said Roy Finley.
“While the technology is the foundation, the SpectrumAC platform also has great products designed with the contractor and consumer in mind,” said Microf’s CMO, Jessie Barrack. There are unique product options for homeowners with credit scores of 700+, 630, or even 560 and below. The products are built with various cost and no-cost options to the contractor. The SpectrumAC platform facilitates significantly higher overall approval rates and fast funding enabling contractors to close more sales at a higher average contract price quickly and easily.
The Spectrum platform solves several problems that are present in the HVAC and home improvement financing industry. Contractors no longer must use multiple finance partners and application processes to get the approvals they need. They can also significantly increase their profitability by closing more sales at higher margins and with lower financing buy down cost. Homeowners also benefit from more approvals, monthly payment options, and a single credit check. The platform represents a true breakthrough in financial offerings to the industry.
SpectrumAC was officially launched in September with a small group of early adopter contractors across the US and is now available to all contractors that are looking for a better way to provide their customers with monthly payment solutions.
About Microf
Microf was established in 2010 to accommodate the growing demand for more flexible options surrounding the replacement of residential Heating/Cooling systems. Microf provides competitive and convenient financing platforms and rent-to-own/lease-purchase solutions for residential HVAC systems in the U.S. through a network of preferred HVAC distributors and contractors. For additional information on the benefits of Microf, please visit www.microf.com
If you would like more information about this topic, please contact Jessie Barrack at 904-591-4055 or email at jbarrack@microf.com.
