ServiceTitan's new TURNS Financing Waterfall automatically resubmits denied applications to multiple lenders without extra credit pulls, boosting approval odds for customers with poor credit. Contractor fees average 6.7%, capped at 9.9%. Setup is automatic if TURNS is already integrated.
Questions this video answers
Spring 2025
About 6.7%
9.9%
One in three Americans
No — TURNS is US only
Release Notes Highlights so In the spring 2025 release we got the Turns Financing Waterfall. And basically this feature greatly improves the chances that a customer with suboptimal credit will get approved for some sort of financing. Which is really helpful because as I'm sure you've learned through experience by now, if a customer needs financing and they can't get it, at least they can't get it through you. A lot of times that's going to cost you the job, which of course means wasted marketing spend, opportunity cost of the time that you spent there, and wasted labor cost. And that can happen pretty frequently because one in three Americans has a subprime or below credit score. So basically, here's how the feature works. So the customer is going to apply for your first look financing through the Service Titan integration like always. And if they get denied for that first look financing partner, they're then going to move on to Turns. So the application to submit for financing through Turns will be automatically filled out using the information that was filled out for the First Look Lender. And then once that gets submitted, that application is going to waterfall down across various Second look lenders. And then it's just going to show that customer the best offers from whatever lenders ended up approving them. So they basically get to submit to multiple Second look lenders all at once without each of those having to be separate hard pulls on their credit. And there's no extra work for you or the customer. Once you submit to Turns, all of those other lenders that waterfall down, that's all just automatic. There are even no credit required options within that Turns waterfall. And all of these options still have pretty reasonable contractor fees. The average is about 6.7% with a maximum of 9.9%. And I'll take this opportunity to point out that with first look financing, your negotiated lender rates are honored within the Service Titan integration. So for first look financing, the there's really no reason to use a financing lender outside of ServiceTitan if they integrate with ServiceTitan because you can get the same rates. So you might as well take the convenience and the operational efficiency of having it all within ServiceTitan anyways. That is the turns waterfall. If you're already set up with the Turns integration, then this is automatically available to you. Otherwise I do recommend getting set up with Turns as a Second look option, especially now that they have this Waterfall feature. You can go into your Service Titan settings, search for financing and then click into that and see if you have a Turns tab available there. If not, you might need to get with your CSM to have that enabled. And last thing I should mention that turns is US only. There is only one financing partner right now for Canada and that is Finance it. And Finance it is a first look lender.
Hey, thanks so much for watching. Mighty kind of you. If you want to check out the full release notes video, here's a link to it right around here. Or if not, here's another video I think you might enjoy. I'm just going to sit here and stare at you until you pick one. That's right. Go on. Okay, Interesting choice.
