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How Does Contractor Financing Work?: Financing with C&L Ward

Jul 31, 2026

Sticker shock is real. Even though you can afford a project, that doesn’t necessarily mean you want to make such a large payment at once. But what other options are available?

We understand, and we’re here to help. C&L Ward offers a variety of free financing options exclusively through Upgrade, where you pick the payment plan length and amount. You can learn more about C&L Ward’s easy payment plans and apply online via our Financing Page.

This blog serves to share what payment options C&L Ward offers, help you better understand what these payment plans look like in practice, and identify if financing might be right for you.

Note: Legally, we can not help you fill out or submit your application, nor can Upgrade. If you do require assistance, we recommend asking a trusted family member or friend to help you.

Is Financing The Right Choice?

Financing can make a major home improvement project more affordable—but it isn’t automatically the best option for every homeowner.

In many cases, financing makes sense if:

  • You’d rather spread payments over time than make one large payment.
  • You want to replace failing windows or doors now instead of waiting several years to save for the full cost.
  • You qualify for a promotional financing offer with a competitive interest rate.
  • Keeping cash available for emergencies or other investments is important to you.

On the other hand, financing may not be the best fit if you already have the cash available and paying outright won’t affect your financial stability. Likewise, if the financing terms don’t fit comfortably within your monthly budget, it may be worth waiting, reducing the project scope, or exploring other payment options.

At C&L Ward, we don’t believe financing is the right answer for everyone. During your consultation, we’ll walk through your options and help you determine what makes the most financial sense for your situation—even if that means financing isn’t the best choice.

What Contractor Financing Options Are Available For Home Improvement Projects?

There are a couple of different ways to finance your project: Secured Loans and Unsecured Loans.

Secured loans require collateral. C&L Ward does not offer secured loans. If you were to buy a car with a secured loan, your car could be taken back or repossessed. Home Equity Loans or Home Equity Line of Credit (HELOCs) are common types of secured loans in the home improvement industry. Not paying back these loans can result in late fees, credit score damage, and even foreclosure of your home.

Unsecured loans do not require any collateral. C&L Ward offers unsecured loans with no collateral and no prepayment or application fees. Some contracts penalize early payments, but C&L Ward does not. We also don’t charge any fees to apply for or use our financing plans.

At C&L Ward, we use the financial technology company Upgrade to offer our easy payment solutions. We pay for five of Upgrade’s payment plans to provide our clients with a free variety of options.

Some companies require contractors to sign up a minimum number of homeowners for financing plans each month. C&L Ward is under no agreement or incentive to recruit you to a payment plan. We offer these plans for clients who prefer a payment plan and are in a position to safely do so. We will never pressure you into financing options.

Contractor Financing Vs. Other Ways to Pay

Many homeowners compare contractor financing with other ways to fund their project. Here’s how the most common options stack up.

Contractor Financing

  • Convenient application process
  • Promotional financing may be available for qualified buyers
  • Designed specifically for home improvement projects
  • Often completed as part of your purchase process

Home Equity Loan or HELOC

  • May offer lower interest rates depending on market conditions
  • Uses your home’s equity as collateral
  • Usually requires additional paperwork, underwriting, and lender approval

Credit Cards

  • Best suited for smaller projects
  • Interest rates can be significantly higher if the balance isn’t paid during a promotional period
  • Can reduce available credit and increase monthly debt payments

Paying Cash

  • No interest payments
  • No monthly financing obligations
  • May be the simplest option if it doesn’t impact your emergency savings or other financial goals

The right option depends on your budget, financial goals, available equity, and the size of your project. During your consultation, we’re happy to discuss financing, but we also encourage homeowners to compare all of their options before making a decision.

C&L Ward’s Financing Options By Plan

At C&L Ward, we offer plans to fit every project. We have 5 easy payment solutions, which you can be pre-approved for with our simple Online Application.

We offer No Interest, No Payments for 18-Months, a 5-Year plan with 4.99% APR, a 7-Year plan with 6.99% APR, and 10- and 15-Year plans at 7.99% APR. All financed C&L Ward plans are unsecured loans.

We don’t require any minimum price to be eligible for financing. However, projects less than $3,000 are only eligible for our No Interest, No Payments for 18-Months plan. Projects totaling $3,000 or more are eligible for all plans, from 18-Months to 15-Years.

What Would My Monthly Payment Actually Be?

Quick Answer: Most C&L Ward customers choose between a 5-, 7-, 10-, or 15-year unsecured financing plan. Monthly payments depend on your project size, APR, and repayment term.

Total cost might be overwhelming, but monthly payments are manageable. In the following example, we’ve broken down how one project actually looks when paired with our easy payments.

Project Cost: $36,472.80
Plan Name Payment Amount
No Interest, No Payments for 18-Months $20,000
4.99% APR for 5-Years $377.33 / month
6.99% APR for 7-Years $301.76 / month
7.99% APR for 10-Years $242.55 / month
7.99% APR for 15-Years $191.01 / month

Every financing offer is different, and your monthly payment depends on factors like the project cost, loan term, credit approval, and current financing offers. The best way to understand what your payment could be is to receive a personalized financing estimate during your consultation. The example above is for illustration only and is not a financing offer. Your true cost could be higher or lower than this number, as $20,000 was picked simply for being an easy number to work with.

What Does APR Mean?

If you’ve started researching financing, you’ve probably come across the term APR, or Annual Percentage Rate.

Think of APR as the total yearly cost of borrowing money. It includes the interest rate and, in some cases, certain fees associated with the loan.

For example, two financing offers might have similar monthly payments but different APRs. A lower APR generally means you’ll pay less over the life of the loan.

When comparing financing options, don’t look only at the monthly payment. Also consider:

  • The APR
  • The repayment term
  • Any promotional periods
  • The total amount you’ll repay over the life of the loan

Understanding all four factors will help you make an informed financial decision.

Who Is Financing A Good Fit For?

In short, financing can be a good fit if you are looking for (1) an easy payment solution or (2) different monthly cost options.

Financing is only a good fit, however, if you can afford it. Payment plans are not meant to inflate your budget and should only be used if you are comfortable and confident in your ability to meet monthly payment requirements.

When Financing Might Not Be The Right Choice

  • If you already have high-interest debt
  • If you can comfortably pay cash
  • If your monthly budget is already tight
  • If you’re planning to move soon

Questions To Ask Any Contractor About Financing

  • Are there application fees?
  • Is there a prepayment penalty?
  • Is the loan secured?
  • What happens if rates change?
  • Is financing offered through a third party?
  • What is the approval process?

How to Estimate My Project’s Cost

If you’d like to get an idea of what your next home improvement project might cost, C&L Ward offers Pricing Pages for a variety of services. You can learn which factors influence price and fill out a free, instant Online Estimator to see a cost range customized to your home.

Our estimators provide a total project estimate, as well as monthly payment options.

You can also Schedule a Consultation online or by calling 1-800-GO-CLWARD. One of our expert consultants will be happy to go over details with you and provide an exact quote.

To apply for financing with C&L Ward or learn more about payment plans, visit our Financing Page.

Frequently Asked Questions About Financing

  • Can I pay off my financing early?
    • Yes, C&L Ward allows you to pay off your financing early and without penalty. Many financing programs allow early payoff without penalties, but the terms vary by lender.
  • Does applying for financing affect my credit score?
    • Most financing applications involve a credit inquiry. The lender will explain how your application is processed before you submit it.
  • What credit score do I need?
    • Minimum credit requirements vary by lender and financing program. Approval depends on several factors, including credit history, income, and existing debt.
  • Can I use financing for my deck project?
    • Yes. C&L Ward offers financing for a variety of exterior home improvement projects, including decks, subject to lender approval.
  • Can I finance only part of my project?
    • In many cases, yes. Some homeowners choose to make a larger down payment and finance only a portion of the total project cost.
  • Can I use financing for windows, doors, roofing, or siding?
    • Yes. At C&L Ward, financing is available for a variety of exterior home improvement projects, subject to lender approval and program eligibility.