SRS Distribution Strikes Partnership with No-Dealer-Fee Lending Partner Hearth
McKinney, TX – August 21, 2018 – SRS Distribution Inc. (“SRS” or the “Company”), today announced a new partnership with Hearth, a sales tool that empowers contractors of all sizes to offer affordable payment plans to homeowners, without paying dealer fees. As part of the new relationship, only contractors who purchase supplies from SRS and its family of 23 companies across the U.S. will receive special access and pricing from Hearth.
“We believe deeply in not just providing our customers with the highest-quality building materials, but also helping them grow their business and operate more efficiently with the latest technology and services,” said John DeRosa, Director of Contractor Training & Customer Experiences at SRS. “After learning more about Hearth, we quickly realized it was serving a critical need for our contractors who understand the value of offering financing, but saw their margins declining from dealer fees.”
Hearth differentiates themselves from their competition with their No-Dealer-Fee model. Other lenders in this arena typically charge contractors a percent of the project price for deals closed with financing. These “dealer fees” range from around 5% to 10% depending on the payment plan offered by contractors.
“Hearth got its start working with roofing contractors,” said Anthony Ghosn, CEO of Hearth. “We couldn’t be more excited to be working SRS, which shares our commitment to helping contractors keep more money in their pockets with simpler, smarter sales tools.”
Hearth also distinguishes itself with its ease-of-use and quick onboarding process. Contractors can sign up for Hearth and start offering payment plans the same day, regardless of how many years they’ve been in business.
“Since our inception 10 years ago SRS has been there to help new contractors get off the ground, and with Hearth we can continue to do so.” said DeRosa. “We want all of the contractors we serve to have access to financing tools such as this, no matter how new their company is.”
About SRS Distribution
Founded in 2008 and headquartered in McKinney, TX, SRS has grown to become the third largest and one of the fastest growing roofing distributors in the United States. Since our inception, we have established a differentiated growth strategy and entrepreneurial culture that is focused on serving our customers, partnering with our suppliers, and attracting the industry’s best talent. We currently operate under a family of 23 distinct local brands encompassing more than 225 locations across 42 states. SRS Distribution is a portfolio company of Leonard Green & Partners, L.P. and Berkshire Partners LLC.
Hearth is a technology-enabled sales tool that empowers contractors of all sizes to offer financing without paying dealer fees. Through its network of nationally-recognized lending partners, Hearth helps contractors close more sales by instantly pre-qualifying customers across the credit spectrum for loans up to $100,000. Since 2018, more than a thousand contractors across 40+ states have joined Hearth and helped their customers find over $12M in financing options.