RobKanda

7 ms·

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by RobKanda 6y ago
One of the features we recently launched and have a good user base using is an estimator widget we host, specific to the contractor, that allows for estimation fo boiler installations. We're also working on an electrical installation o
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by RobKanda 6y ago
The bank we offer the finance through run full credit checks and assess the risk. Non-payment is only tied to our lending bank, the tradesperson isn't at risk. If the customer is a risk of non-payment, the bank will elect not to lend t
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by RobKanda 6y ago
The bank makes commission on the 0% finance - we charge the tradesperson a 9% subsidy for any 0% finance agreement taken out, which includes the bank's fees. If the customer takes personal loan finance, then the bank charges them an AP
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by RobKanda 6y ago
Thanks! It's certainly a consideration we've had, we have the full history of the tradesperson through our site, and would have the same for customers, so a tradesperson would know if a customer is trust worthy as well! Win win fo
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by RobKanda 6y ago
Whilst you could maybe set up a monthly payment plan for your customers, that leaves you very exposed to them not paying. Assume you have three or four customers on a payment plan, and they decide not to pay, you could be out of money for t
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by RobKanda 6y ago
We've seen it here in the UK as well, with the larger firms being able to offer finance, either by lending their own money or agreeing with a bank and having spent the time and money to ensure they're fully compliant. This complia
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by RobKanda 6y ago
Well if they wouldn't qualify for financing, then the contractor is informed the customer is unlikely to pay for work, so they know not to work for them. Similarly, if they are approved, the contractor knows they will get paid, as the
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by RobKanda 6y ago
We're a UK founded and based company, so we see this all the time as well. The finance option makes it a lot easier to sell to a customer - if you're told you can pay £700 for a TV today, or take it away and pay £30 a month for 2
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by RobKanda 6y ago
These fees are actually representative of the fees charged to retailers to offer 0% financing options. We don't hide these fees from the tradespeople, so they can decide to up their price to include that fee if they wish, or can choose
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by RobKanda 6y ago
Hi, thanks for taking the time to look over the site and thanks for the feedback! Our base price for our subscription might seem cheap, but for tradespeople, whose margins might already be tight, its seen as a fair price for the quoting an
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by RobKanda 6y ago
Whilst some outside financing is available, for the general contractor the ability to offer 0% finance just isn't there. Kanda provides these contractors the ability to offer this and compete with larger companies. Rather nicely, the a
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by RobKanda 6y ago
We currently require our contractors to be associated with a regulatory body, who can inspect their work if a dispute arises. In the UK, this is mandatory anyway. The customer also signs a satisfactory notice on completion, and we encourage
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by RobKanda 6y ago
Whilst you could take out a HELOC to complete a home maintenance project, the minimum you can often take out is $5000. If your project was only $1000, you may end up paying more in interest for the HELOC rather than a personal loan for the
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by RobKanda 6y ago
The risk of non-payment falls onto the bank we are partnered with. The finance agreement is between us (and the bank) and the customer, so the tradesperson is completely de-risked
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by RobKanda 6y ago
One of the products Kanda hopes to bring to market soon is a secure holding account to arbitrate payments. You could pay electronically upfront into the account, letting the tradesperson know you can pay for the work, and the money would be
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by RobKanda 6y ago
We are partnered with a bank who have provided us a debt line to offer 0% finance to customers of our tradespeople
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by RobKanda 6y ago
Whilst most home projects may be affordable, the average American has less than $1000 in their savings. A single project could leave their bank account wiped for months
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by RobKanda 6y ago
We offer financing to the customers in two ways. Firstly, we offer a 0% finance package that allows the customer to split the cost over 10 months, bests suited to smaller jobs. For this, we're partnered with a bank. Secondly, for sligh
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by RobKanda 6y ago
Most tradespeople are professionals, running professional businesses. Whilst your tradesperson might have gone on a bender with the cash last time, that wouldn’t be possible with Kanda. The money doesn’t get to the tradesperson until they’v
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by RobKanda 6y ago
Whilst the main concept itself is subject to local legal variations, the idea of contractors being able to make their jobs more accessible and more affordable to the average homeowner resonates around the world. What Kanda aims to do is to
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Launch HN: Kanda (YC W21) – Let tradespeople offer finance to their customers
79 points by RobKanda 6y ago|74 comments