Financing Industry Provides No Aid for Pool and Landscape Buyers
Small Businesses and Contractors Largely Affected by Nation’s Struggling Economy
As this nation remains in one of the largest economic recessions in the past {forty years, there are many businesses that are greatly affected, but go undiscussed~A large quantity of industries and local businesses are suffering indirectly because of this nation’s economic recession~The largest recession that U.S. residents and companies have seen in the past 5 decades continues to indirectly affect many industries}. The housing market and stock market have been some of the major focuses, while the banking and loan business follows a close second. Many major U.S. owned companies, that employ millions of Americans, are also being affected by the recent collapse in these major industries.
Experts will agree that the housing industry has taken a huge blow, and the housing in Phoenix, AZ lies at the center of this issue. These buyers all have property that has greatly depreciated in value over the past 24 months (sometimes being down 20 to 50 percent). Bank foreclosures are up tremendously, and there are many reports of residents simply leaving homes.
For those homeowners who are not affected by unemployment, housing market decline, and stock market woes – they can quickly find out they are incorrect. When most homeowners desire to make enhancements to their houses, they may need financing or some sort of financial assistance. This home improvement loan generally comes from a local bank, credit union, or credit agency. Swimming pool, landscape, and home improvement companies have not had the fortune of getting it’s prospecting buyers approved for these loans.
Since up to 70% of swimming pool owners require financial assistance or loans, Phoenix swimming pool builders have been one of the hardest hit businesses. If financial assistance is not obtained, swimming pool and construction companies end up losing the project, or selling a job that is much lower than expected. Arizona pool companies have suffered greatly with the decrease in the economy and lack of financing – sometimes even closing their companies, down-sizing, or diversifying into other markets. Intelligent pool and spa contractors have started doing landscaping and swimming pool remodels for additional revenue. General contracting companies have completely gone into other fields, such as sales, marketing, or consulting. In an attempt to produce additional revenue, many Arizona Landscape Companies are expanding into fields such as water features, flagstone patios, Phoenix fireplaces , and outdoor kitchens.
One pool and landscaping Phoenix contractor, Unique Landscapes and Custom Pools, has figured out the technique of offering many different services to potential clients years ago. As a Phoenix pool contractor, licensed general contractor, and landscaping contractor, Unique is able to offer their clients many different options when it comes to home improvement. By offering many different components of our swimming pools and landscape services to our customers, we’ve been able to make money during these challenging times – simply by diversification. However, the inability for our motivated clients to get financial assistance or loans has been crippling.”
“It’s tough to think about all the money that was given to banks just a few months ago for these loans, and now it’s difficult for our homeowners, who want to buy our products, to get this aid” claims business owner Chris Griffin, of Unique Landscapes and Custom Pools in Mesa, AZ. Maybe it’s time for the government to look a little further into some of the struggles of the smaller companies that are greatly affected by this struggling economy. “Phoenix pool financing is getting better” remarks Griffin, “I can’t quite see the end of the tunnel, but I can faintly see the light”.
Related posts:
- Personal Injury Medical, Surgery and Hospital Financing or Funding
- No Equity Home Improvement Loans for kit homes and sheds
- Car Loans Financing
- Welcome Boost For Australian First Home Buyers
- When To Apply For A Personal Loan
Tags: economy, Financing, landscaping, Loans, pool and landscaping, recession, swimming pool financing, swimming pool loans, swimming pools