What to Expect from a Financing Provider

When it comes to financing your recreation or home improvement customers, it’s important to do business with a lender that understands your unique needs. Although it may be tempting to use a different type of lender, it is much safer to partner with a bank. Banks are subject to regulatory scrutiny and have proven they can withstand economic recessions. Therefore, banks can ensure your customers are treated fairly and educated properly to improve their financial standing.

Due to these high compliance standards, your customers will often feel more comfortable with financing their RV or home improvement projects with you. And while non-banks may not be risky and banks are not inherently riskless, it does offer a foundation for customers considering financial services. 

Here are two categories lenders assess when they determine whether your customers will qualify for financing:

Credit History

A customers’ spending track record is an important metric for lenders. Many lenders will look at the credit score and approve or deny financing based on the number they see. However, Medallion Bank understands that your customers are more than just a credit score. Often times people are faced with difficult circumstances that lead to less than perfect credit but they have a good track record in recent history. We take all things into consideration when assessing your customers’ eligibility for financing.

 Many lenders use credit scores to determine the lending risk. Generally speaking, the higher the credit score, the lower the risk to the lender. However, this is just one component to making a lending decision. Every lender will have their own set of criteria to determine the acceptable level of risk associated with a given product or service.


It’s important for your lender to determine if your customers can afford monthly payments on their recreation product or home improvement project. Typically, banks will review the customers’ income and employment history as indicators on their ability to repay outstanding debt. The ratio of existing debt compared to before-tax income is called the debt-to-income ratio (DTI). This is a good indicator as to whether your customers could qualify for a loan.

About Medallion Bank

There is an option for businesses to extend credit to applicants without taking a major risk themselves. Businesses who partner with highly reputable lenders, such as Medallion Bank, can help consumers rebuild their credit. Contractors and recreation dealers can offer financing without posing an unnecessary risk to themselves. Medallion Bank assumes the risk based on their review of an applicant’s creditworthiness. Businesses simply provide their product or service and leave the rest to us.

Working with an experienced second-chance lender allows business owners to reap the best of both worlds. If you are interested in teaming up with Medallion Bank, please contact our team today to learn more about our credit evaluation process.


1100 East 6600 South
Suite 510
Salt Lake City, Utah 84121

Home Improvement

1100 East 6600 South
Suite 510
Salt Lake City, Utah 84121


© 2024 Medallion Bank. All Rights Reserved   |   Privacy Notice   |   Terms of Use

MB Icon