The transaction fee is the cost you pay to offer finance to your customer. On a £1000 job financed over 10 months on 0% credit; you would be paid £920 once it's complete. You get to choose which finance options your customers see and have control of your costs.
How long does it take to set up?
You can start offering financing through us within days after you’ve signed up. We’re committed to reviewing onboarding forms within 3-5 days.
How do deposits work?
Before a job starts your customer will pay a deposit to Kanda of between 10%-50% of the job value and sign a credit agreement for the balance. Kanda will pay you the entire amount minus any fees within 2 working days of the job being completed and the satisfaction note getting signed.
How quickly does my customer get approved?
It takes less than 30 seconds for your customer to be approved and they will need around 5 minutes to complete the application form. It really is finance in 5 minutes.
How does offering finance win me better work?
It makes your pricing more competitive and it gives customers the option to increase the total job value. So not only do you win the work on price but you also win a larger and better job because customers can choose the premium options.
What happens if my customer doesn't sign off the job?
If a customer was reluctant to sign off the work because they didn't feel the job was up to the standard promised then they would need to send Kanda evidence. We'd then work with the customer and you as a mediator to resolve the issue. Disagreements happen - rarely - but when they do, we'll be on your side.
Are there fees for financing. And what’s the minimum quote value?
There are small fees for financings depending on the type of finance taken out by your customer. You can view these on our pricing page.
Kanda will finance jobs between £500 to £50,000. Customers will need to pay a deposit between 10% and 50% of the total value.
Do I need an FCA license?
No, you will become an introducer appointed representative or 'IAR' of Kanda. This means you can introduce customers to Kanda so they can obtain credit. Psst... we don't charge you any set up fees for this, unlike some people...
Who are you guys?
Kanda was started by an electrician from Worcestershire named Richard. He was frustrated to quote for work only to find out that customers didn’t have any way to pay. He didn’t just want more work — he wanted better work — and quality customers.
Who are Kanda? We’re English. We’re contractors. And we’re here to help you grow your business.
Do I have to use the API?
Nope! Kanda's API is there for businesses who sell their services directly from their website. You can just use Kanda's web portal to offer finance.
What is the min turnover required? Can sole traders use this?
We have no minimum turnover requirements and sole traders can absolutely use Kanda. Great, right?