Dental Financing Companies: How to Compare [2023 Guide]

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In the U.S., the dental care industry is valued at a whopping $156.4 bl in 2023 and expects to grow another 7.5%. Although a considerable market, dental clinics are fighting tooth and nail to get a piece of the seemingly gigantic pie.

There are two main struggles for dental clinics. The first struggle is staying competitive. With dental costs constantly fluctuating for almost any dental procedure, it's getting challenging to hit the right price to attract customers without sacrificing revenue.

The second struggle ties right to the first one. The cost barrier is a significant issue both for dentists and patients. This is especially noticeable when you consider that a staggering 80% of Americans will delay a regular dental appointment even when knowing it will cost them more in the future.

This sets up the playing field for almost every private dental clinic. How to make your dental work more accessible without crippling your profits? One solution that some dental clinics are using is flexible dental financing options.

But there are countless third-party lenders out there, and as a dental office, you need to ensure you pick the right one. If you go with a lender that doesn't care about your needs and the needs of your patients, it can end up hurting your reputation and lower your patient number.

On the other hand, external dental loans are a great way to make your dental work accessible and attract more customers. This article aims to help you out with picking the dental loan company in 2023. But first, let's start by explaining what dental financing is.

What is Dental Financing & Dental Loans?

Dental financing is a payment alternative that you offer to customers that can't pay for dental care at once. It adds flexibility since patients can afford all kinds of dental services without paying upfront, including:

  • Conservative dental care such as teeth fillings.
  • Urgent dental care such as teeth fractures or tooth abscesses.
  • Endodontics such as root canals.
  • Optional dental procedures such as cosmetic dentistry.
  • Orthodontics such as braces.

Customers can pay you in installments such as monthly payments, most commonly with interest rates.

Sometimes it's compared to credit cards. Credit card amounts usually limit to low to mid-tier purchases. But, unlike credit cards, there isn't a specified limit with dental loans.

Like general consumer financing, the loan amount and loan terms are susceptible to the client's credit score. A bad credit score often means a smaller loan amount or even loan rejection.

But, a flexible dental financing program opens the doors both for the dental business and patients, and it's usually the best dental financing option.

Another benefit is that the lender does all the work for you, such as checking the client's credit score and handling loan offers. If the loan purpose is acceptable and the borrower gets a green light, the customer usually pays a certain amount in front as an origination fee. After, customers pay their dental loans in monthly payments.

As such, consumer financing options, in general, are an excellent alternative for costly services. Often a patient can afford dental care, but they can't pay upfront. Without offering dental loans, dentists commonly miss out on a healthy market chunk.

How to Offer Dental Loans?

Usually, there are two routes dentists can take. The first route is to have an internal loan program, meaning the clinic handles loans. This can be time-consuming and stressful since the dentist manages finance alongside their usual dental care responsibilities. Considering the required knowledge and legal work, the better option is to go with external financing options.

Third-party lenders handle external financing options for you. That includes:

  • Managing the loan application and administration that comes with it.
  • Ensuring the client pays off the loan. Keep in mind that you, as the dentist, don't wait for the customer to pay off the loan to get your payment.
  • Managing the legal work and ensuring that everything ends with zero complications.

It doesn't matter what kind of dental work you do. Dentists who do necessary care, such as root canals, and dentists specializing in cosmetic dentistry, can offer dental loans. Your clinic can continue its everyday work and focus on increasing patients that visit your clinic. There are a handful of other benefits that we will explore next.

External Dental Financing Benefits

There are two benefit categories—benefits for you as the service provider and benefits for your customers. Since the average customer is usually unaware of paying for dental care in monthly payments, knowing both benefit categories is helpful. That way, you can promote your business better and increase your customer acquisition. Let's start with business benefits.

Business Benefit #1: Increase Sales

The first benefit goes back to what we talked about earlier. Your dental clinic gets paid upfront, and after you finish offering services, you're out. The rest of the financial procedure is solely between the lender and the customer.

The obvious advantage is that you get the money right away. But arguably, an even more significant benefit is time. By offering flexible dental loans via a 3rd party lender, you can jump from helping one patient to another and increase sales. Furthermore, by providing the customer more than one payment option, the potential customer's likelihood of becoming a paying customer rises dramatically.

Business Benefit #2: Increase Customer Retention

As a dentist, you know that dental costs can quickly stack up. You also understand that customers are likely to return or that a simple office visit can soon turn into a complex dental procedure.

A patient usually isn't ready when they come for the initial check-up. While most will likely pay for the office visit upfront, it often doesn't end up there.

Depending on the teeth' health, you might have to fix a single tooth or even do root canals for multiple teeth. With the average visit cost between $50-$350, standard teeth cleaning cost between $70 -$200, and the average cost for root canals between $300-$2,000, customers quickly get the price tag scare. What they thought (or hoped) would cost a maximum of $350 can turn four-figure.

This results in one-time customers who aren't ready to pay large figures. But by offering a personal loan for dental procedures, it becomes easier to turn a one-time customer into a returning customer and thus increase your customer retention.

Business Benefit #3: Increase Loyalty & Referrals

A returning customer means a happy and loyal customer. More importantly, a loyal customer doesn't stop to benefit you once they pay their dental costs.

Think about it. If a customer is satisfied with your work and flexible payment options, and the possibility of a dental loan, what will they do when a friend comes complaining about a hot tooth?

Naturally, they will refer your dental care. This is arguably the biggest benefit since referral can increase sales drastically with you lifting a single finger besides ensuring top-quality dental services.

Now, let's move to customer benefits.

Customer Benefit #1: Payment Alternative

According to the research for North America, a credit card is still the most commonly used payment method with 34% usage. But, this will likely change in the upcoming years, with eWallets overthrowing credit cards for the top.

First, what does this mean for you? It means that even if you're content with the current customers (willing to pay with credit cards), the likelihood of the tides turning in the near future increases.

By offering a payment alternative, customers get the option to adjust their buying habits, and you can be the first one awaiting them with open doors.

Customer Benefit #2: Buy More

Alternatives such as buy now, pay later had an almost 50% increase between the last year. One reason is a bad credit score and inability to buy with a credit card or another payment option. The second reason is buying more even if the customer isn't struggling with a bad credit score.

When it comes to dental work, this usually means that the customer can afford dental procedures that aren't urgent but are beneficial nevertheless.

In the cosmetic dental industry, having the possibility of a monthly payment and a loan means that the patient can afford to improve even the most negligible dental uncertainties.

Customer Benefit #3: Feel Safer & Credit Score Issues

Having an empty wallet when a customer has an urgent dental issue, it's never a good feeling. Most medical insurance plans have extremely low-cap approved limits. Meaning, after a certain amount, the patient needs to cover the additional fees. This often forces the patient to take unpleasant financial routes.

But by knowing that they can get a dental loan outside the insurance plan directly from you, they will feel safer.

In the worst-case scenario where the patient has a bad credit score, fear can easily overcome the patient's rational judgment. In a way, you can offer dental care and peace of mind to your customers.

Deciding on the Right Dental Financing Company

Now that you know the benefits of providing dental loans through a third-party lender, it's time to dig into choosing the right dental financing provider for you.

First of all, you're likely wondering how much does a financing company costs you. Depending on the financing company, you usually don't have to pay anything since the lender gets their profit via interest rates and sometimes by charging the origination fee. But some financing providers do charge a small one-time fee.

If you market your dental financing correctly, the fees are often of little to no concern since you're increasing sales. So instead of focusing on possible fees, it's better to pinpoint a dental finance lender that is right for you and your customers.

Here are some tips to help you pick the best dental financing provider with suitable dental financing options for you.

Dedicated Dental Loan Service

Many loan providers go with a standard template no matter the business they partner with. In a way, some providers fail to see a difference even between student loans and dental loans.

When you first start looking for a provider, you need to know them better. You can do that in two steps.

  • The first step is to do online research either on the company's website and/or websites that provide company information if you can find general personal loan information instead of specifics on dental financing, that likely means that the provider doesn't go outside generic loan terms with a generic origination fee and interest.
  • If you find information on the lender providing a dental loan service, the second step is directly contacting the provider. This way, you can test the waters and find out if they can back up what they say on the website.

Find a dedicated dental loan company is crucial because that way, you're partnering with someone who can offer financing options specific to dental procedures.

Remember, you're looking to benefit yourself and your customers. Although a generic lender might help you, it can have a completely different effect on your patient. The result? A one-time customer who never comes back.

Smooth Online Application Process

The following vital element to look out for is a smooth online application process. You can quickly lose a patient in complex approval procedures that take days to qualify. Furthermore, it's critical to have an online option in current times.

Keep in mind that it's also not all about how fast your customer's account is approved. Some providers can have a quick and affordable procedure, but that must not come at the cost of bad credit score research.

If a customer is in a genuinely bad financial situation, it doesn't matter how flexible you are with a loan and its monthly payments. If a customer can't afford it, they usually end up deeper in debt, which can also negatively reflect on your reputation. Customers fighting heated financial battles will usually blame the dental office even though you have nothing to do with the issue.

So when having the initial meeting with the company, be sure to check how smooth (and thorough) their loan applications are.

Large Amount Financing Capability

The total cost for some dental procedures can increase pretty quickly. It can go up to a point where the dental financing company struggles with providing the credit without any delays.

Although financing providers handle finance, that doesn't mean that each one can handle larger amounts with no delays.

This element can have a negative impact both on you and your patient. Until you get the funding approved, you're less likely to do your dental work services. The patient has to wait, which can be unpleasant, whether cosmetic dental services, braces, or urgent dental health issues.

This can result in customer loss and a bad reputation for your dental work services.

Lenders with Low-Interest Rates

Although it doesn't directly matter what the interest rate is, it does to your customer. They might need a loan to get their teeth fixed, but that doesn't mean that the customer will go with the first personal loan plan that shows up.

Everybody knows that a high interest rate can result in significant debt. This goes back to you as a dentist getting blamed for the debt.

Although interest rates need to exist, some lenders can get greedy and exploit each account as much as possible. Make sure to inform yourself and how flexible the provider is.

Efficient Customer Account Management

There are plenty of moving parts when it comes to dental financing loans, such as:

  • Monthly payments
  • Credit score
  • Loan amount
  • Loan terms
  • Account information
  • Loan success pay-off rate
  • Additional fees

For lenders offering quality financial services, they need a strong account management network. It doesn't matter if they handle a single personal loan per week or are checking 1,000 accounts per day.

Lenders with weak account management get lost quickly. And the last thing you want is a lender who can't carry their financial weight.

This can not only result in legal issues for you but also a bad customer experience.

If you end up finding a lender who checks all of the above, you can ensure to reap the benefits of a flexible financing program. An excellent financing company can handle any loan amount and puts their clients in the first place.

Offer Top-Of-The-Line Dental Financing

Dental financing options are becoming more and more relevant for any dentist who wants to stay competitive in the dentistry market.

Since people worldwide are getting reluctant with their spending, you need to adjust to the needs and capabilities. Credit card payments are still the go-to option for some people. Still, generic payment options are losing appeal since companies focus on credit scores while ignoring other financial customer capabilities.

With Time Investment Company, either you or the patient doesn't have to settle for anything less than what you need. TIC thrives in providing flexible financing options to dental clinics by delivering the most affordable options to the clinic's customers.

Do not hesitate to schedule a call and ask whatever you want to know. We know how crucial it is to have a straightforward and genuine relationship with clients. We're here to offer the best patient finance services that you can find.

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Learn more about how our clients boost sales with our flexible options

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Sara Hafeman

With years of experience in the consumer financing industry, Sara Hafeman currently leads marketing and partner development at Time Investment.

Rick Mumford

Regional Sales Manager

Rick is an entrepreneurial sales management strategist with a 30+ year record of achievement in the highly competitive Fenestration marketplace. Specializing in dealer network sales, Rick is adept at driving growth of company revenues, improving sales team performance, and building strong relationships with customer base. His Core Competencies include strategic sales planning, market expansion, relationship management, and high impact sales presentations. Though Rick was referred to Time Investment, he was extremely interested in our values and the enormous opportunity for growth. Rick accepted his new position as   Regional Sales Manager in September 2023.

Outside of work, Rick enjoys spending time with his family and engaging in activities such as hunting fishing, golfing, and church.   He believes Time Investment offers him the opportunity to achieve a balance between his family and professional goals. Time Investment’s focus on exceptional servicing of our customers, a core value, resonates with Rick. This value, above others, drives our customers to want to continue to use Time investment’s platform and expand their opportunities with us, and is a key component to Rick’s decision to join our team.

 

Tonya Schmirler

Senior Manager Loan Servicing

Tonya is the Senior Manager of Loan Servicing at Time Investment, having started in 2023.  With over 20 years of experience in the finance industry, she held various positions in collections, customer service, and operations leadership roles.  At Time Investment, she finds the sense of community, influence, and emphasis on quality and customer satisfaction to be the most rewarding aspects of her role.  Tonya personally interacts with clients and customers by prioritizing their needs and ensuring a high level of service. 

In her personal life, Tonya enjoys spending time with her family, riding motorcycles with her husband enjoying the Wisconsin scenic back roads, fishing, and reading.  She resonates the most with the Time Investment value of excellence, believing it to be the heart of everything we do. Tonya strives to achieve excellence in all relationships, going above and beyond, delivering quality, and continuously improving.  

Ben Hafeman

Concierge I

Ben Hafeman began his career at Time Investment Company (TIC) as a seasonal worker in the summer of 2020.  Over the years, he has developed robust skills in the customer care and collections department, gaining a solid understanding of loan processing and underwriting.  In spring 2024, he graduated from the University of Wisconsin- Whitewater with a Bachelor of Business Administration.

 

Currently Ben works full-time as a Concierge Representative.  He finds the growth opportunities and supportive staff at TIC particularly rewarding, application how colleagues are always willing to assist with any issues or concerns.  His Daily responsibilities involve interaction with Dealers, entering new applications, and addressing inquiries to ensure efficient and effective service.

 

Outside or work, Ben enjoys hiking, spending quality time with family and friends, and collecting Legos.  He has a passion for exploring new areas and aspires to travel the world, embracing new experiences and cultures.

 

The Value that resonates most with Ben is Excellence and Integrity. He believes that striving for excellence means exceeding Dealers’ expectations and ensuring that all interactions are seamless and efficient. This commitment to high standards is crucial for fostering positive relationships.

 Integrity is equally important to Ben; he asserts that being honest and straightforward with Dealers is essential.  This transparency helps build trust and solidifies relationships. By prioritizing these values, Ben aims to create a collaborative and trustworthy environment that benefits both himself and the Dealers he works with.  

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As Director of Business Development, John Hafeman heads our sales team at Time Investment Company. He’s been with TIC for 29 years.

Prior to joining TIC in 1993, John was an outside sales representative for a Wisconsin-based office supply company. He started with TIC as a collection and customer service representative. But his hard work, dedication, and integrity earned him numerous promotions, and he was soon heading up the entire customer service and collection department.

At the same time, John was putting his sales experience to work, working with Tom on the dealer development and dealer relations side of the business.

Today, John oversees all aspects of business development at Time Inc., working tirelessly to build and cement the company’s relationships with contractors, dealers, home improvement firms, water treatment companies, and anyone else whose customers need an affordable financing solution.

Of all the Time Investment Company Core Values, the ones that resonate with John the most are Fun and Generosity, as these two have been keys to getting him through the many trials and challenges along the way.

“Being generous with our time, talent, treasures, and having fun along the way is what it’s all about to me!” says John.

Outside of the office, John enjoys fishing, hunting, and the great outdoors of Northern Wisconsin. He is an avid golfer and member of the West Bend Country Club.

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Wendy DuBois

Concierge II

Wendy is a veteran with the Time Investment Company. She started in 1999 at our collections desk and was soon promoted to dealer services. Later in her tenure at TIC, she did underwriting and management. Twenty-three years later she is working in dealer concierge, providing outstanding customer service to our dealer clients.

Wendy chose to join TIC while she was working in a daycare facility. A friend working here told her to apply… and the rest is history!

Her hobbies include watching her children play sports, spending time with her family, and traveling.

The TIC Core Values she cherishes the most is Fun. “Don’t you want to come to work and love your job and the place you work for?” she asks. With the fun aspect, you are not just clocking in, doing your job, and going home. You’re making new friends, loving your job, and all while having fun!”

Monica Sabala

Concierge III

Monica Sabala has a passion for helping others. Which is what attracts her to work in customer care and collections. She now works in the Concierge office at TIC, an inside sales position, setting industry standards in the customer experience field.

She joined the Time Investment Company because it was “a great fit that offered flexibility, remote work, and the opportunity for growth.”

Outside of the office, she treasures family time and sharing the love of the Lord.

TIC’s core value that Monica relates to most is Excellence.

“Living a life of excellence is the standard. It’s seen in everything — attitude, preparation, and execution. To see it in my workplace is very motivating!”

Joe Peplinski

Concierge III Lead

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Joe worked his way through college as Junior Golf Coordinator for the Mary Hafeman Golf Experience in Mequon, Wisconsin. After graduating in 2019, Joe joined TIC as an inside sales representative. He has since been promoted to Concierge III Lead, where he strives to provide best-in-class service to our valued dealer clients.

Joe saw the opportunity at TIC as a great experience to start at a finance company and build his resume. He holds a degree in Business Management and Marketing from Edgewood College.

His hobbies include playing sports and traveling. Of all the Core Values at TIC, Joe likes to focus on Service and Excellence. “The company is all about relationship building and being a team player,” he says. “We are all working together to achieve our goals. I believe this sets us apart from most finance companies. We have that personal touch instead of hearing an automated voice. You will be able to talk to a real person and go over anything in regard to an account.”

Zachary Hafeman

Concierge Manager

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Zach started working at Time Investment Company ever since he graduated from high school 12 years ago. He started out at the company working seasonally while playing Junior A hockey, and then later doing customer verification calls, collections, and cash management duties to learn the business. He continued to work with us while attending college.

Once he graduated, he joined the company full-time, working in the Dealer Services Department. He then took on TIC’s first inside sales position as New Client Growth Strategist and worked in that capacity for three years before being promoted to Concierge Manager in 2022.

Zach enjoys playing golf, and hockey, watching TV shows and movies, spending time at the lake, and watching Packer games.

Integrity is the TIC Core Value that he holds as the most crucial. “I find it the most important to always be upfront, truthful and trustworthy with not only business customers but also with everyone I interact with on a daily basis,” he says.

Mark Willis

Regional Sales

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With more than 30 years of financial services experience, Mark Willis is a proven, successful leader with a long, winning track record of results in finance, business, and home improvement.

Mark joined TIC in 2021 after being referred by Mike Farrell. A driven self-starter, Mark came to Time Investment Company having achieved years of success as a self-employed consulting and sales professional.

He served as a product sales and solutions manager at Toshiba and was Vice President of Store Operations and Product Management at Axcess Financial. Prior to that, Mark had more than a decade of successful management at Walmart, where he last worked as Senior Director of Category Management, Strategy, and Product Development.

His hobbies include playing golf and making home improvements. He has a bachelor’s in business/corporate communications from Abilene Christian University and an MBA in Management and Operations from Babson F.W. Olin Graduate School of Business.

The cove value that particularly strikes a chord with Mark is Service. “It’s all about taking care of our dealers,” Mark says.

David Bocian

Regional Sales

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David brings more than 30 years of professional experience in both the home improvement and consumer finance industries, making him an ideal match for the Time Investment Company and our customers. Over the years, David has worked with national lenders on both sides as a dealer and as a sales representative.

Prior to joining TIC in January 2022, David was an accomplished operation and finance manager with solid skills in consumer finance, sales, and marketing. He came to us from his position as business development manager at Veracity Strategic Business Solutions in Tampa, Florida. Before that, David was the Director of Sales and Business Development Manager at Castle Credit in Chicago. He also worked for 11 years as the VP of Operations at FJB Associates in Berlin, Connecticut.

David chose to come work for us here at Time Investment Company when he got a surprise call from a recruiter asking if he would be interested in joining the company. “I was so impressed after the first Zoom call with Mike, Tom, and John. Their knowledge of the industry from the dealer’s perspective fascinated me.”

His favorite hobbies include family time with his wife of 25 years and 3 sons. He also enjoys golfing and watching Steeler Football games.

The TIC Core Value that is most important to David is Integrity. He holds a BA in Political Science and Government from Assumption University.

Nicole Ishay

Administrative Recovery Manager

“The culture here at TIC is something that I am not used to, and I knew I would fit right in,” says Nicole. “Learning new things every day and making an impact in the organization’s growth is what I am most passionate about.”

Outside of work, Nicole loves walking, shopping, and traveling.

The TIC Core Value she holds dearest is Fun. “It helps people to have a more positive mindset, enjoy higher levels of well-being, and better mental health.”

“Fun at work is a key element of employee happiness.” She quips when asked what values here at TIC are most close to her heart, continuing, “I chose Fun as one of the TIC Core values because it helps people to have a more positive mindset, enjoy higher levels of well-being and better mental health.”

Toni Steldt

Loan File Manager

Toni comes to TIC with a strong background in customer service in a variety of contexts – from waitressing to manufacturing.

She chose to join us at Time Investment Company because of our focus on employees and providing them room for growth.

Outside of the office, Toni’s hobbies include camping with her family, having bonfires in the backyard, and motorcycling.

Toni relates most to the TIC Core Value of Fun. “I believe laughter is the best medicine,” she says.

Jamie Phillips

Controller

Jamie spent over 15 years in various roles at Bank of America, culminating in a four-year tenure as Director, Global Principal Investments Finance. In that role, he served as the chief financial officer for BAML Capital Access Funds, where he supported the firm’s growth from $175 million to $1.2 billion in commitments.

He then spent several years as Accounting Director at GMR Marketing before joining the Time Investment team.

Jamie joined TIC because he likes the indirect lending/consumer finance industry, and he likes the culture at our company.

Jamie holds a Master of Business Administration Degree from the University of Chicago.

His hobbies include cooking, hurling, and watching his daughter play sports.

The TIC Core Value of Excellence holds a special place in Jamie’s heart.: “I am always trying to improve and make things better,” he says.

Mary Kelly

Senior Manager, Customer Care

Mary came to TIC after serving as a Customer Service Team Leader at Alta Resources in Neenah, Wisconsin, where she worked for Johnson & Johnson, Kellogg’s, and Purina Pet Care. Before that, was also the Sample Department Manager for the County Materials Corporation, where she experienced driving standard operating procedures as a production foreman. For six years, Mary also ran her own business as a personal chef.

Mary joined TIC because she was ready and excited to move forward with her career in a new industry.

Mary’s hobbies include crocheting, watching movies, going to farmer’s markets, and walking.

Our core value that resonates with Mary the most is Fun! “When the workday gets long, a bit of laughter makes the time go by,” she says.

Michael Blue

Senior Manager, Collections

With 25+ years of call center experience and two decades in collections, Michael has a strong track record of leading teams to increase recoveries on multiple portfolios such as out-of-statute debt, credit cards, medical, auto, and private and government student loans.

Michael comes to TIC after more than 20 years of working in a corporate environment. Prior to joining TIC in 2019, Michael served as the Extended Business Office Manager at State Collection Service. Prior to that, he spent nearly 14 years at the Van Ru Credit Corporation as a collector, supervisor, collection manager, and assistant general manager.

“I love all the people that I work with and the family atmosphere,” he says of the Time Investment Company. “TIC has become my second family and the company focuses on its core values. This company is full of smiles and is a fun place to work!” he says.

Michael enjoys spending his free time with his family and outdoors camping, riding ATVs, and fishing. He feels that he can never get enough sun.

The TIC Core values that he best relates to is Excellence: “I am committed to setting high expectations for myself and my staff to maximize recoveries and minimize delinquency,” says Michael.

Russell Brown

Director of Platform Applications

Russell has more than 30 years of financial services industry experience working with companies of all sizes. He has a long track record of success in operations, process improvement, and consumer protection regulatory compliance. He has skills in change management and transformation initiatives that support customer loan origination and servicing systems, electronic banking, and debit/credit payment solutions.

He also has an extensive background directing highly skilled financial management teams in supporting and achieving company objectives in a variety of contexts.

Russell holds the Certified Compliance Professional credential from the American Bankers Association’s Institute of Certified Bankers.

Outside of work, Russell enjoys traveling, training for the next Marathon, and spin cycling. He also enjoys the warm weather and is a self-described “sucker for a scenic view.”

The TIC Core Value he relates to the most is integrity. “I’ve always been taught to do the right thing and take ownership of your decisions and actions,” says Russell. The best way to engage with people is to treat everyone the way you want to be treated.”

Sara Hafeman

Director of Marketing and Sales Support

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Sara came to the Time Investment Company from the hospitality industry, where she spent 15 years honing her sales and customer service expertise in a variety of positions, culminating in her role as Director of Catering at Marriott Hotels. She joined TIC in 2011, just as the company was set to expand, and needed someone with a deep background in sales and customer service like hers.

That background soon led her into new roles with TIC, including sales support, marketing, and management.

Sara enjoys outdoor activities like hiking, golfing, relaxing by the lake and loves traveling with family.

Of the TIC Core Values, Sara finds the most resonance with Service. “My whole career has been built around serving my customers and building their trust so they know, no matter what, I will take care of them,” she says.

Jayne Peplinski

Director of Human Resources

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The chief talent officer of Time Investment Company, Jayne started with the Time Investment Company in 2004 as a data entry specialist. She was soon promoted to accounts receivable manager, and then to her current position in 2012.

After a number of years working in the public school system, Jayne came to TIC to be a part of a family-owned business and to make a difference, not just for her family and herself, but also for others.

Outside of the office, Jayne’s favorite activities include hiking, listening to music, reading, and spending time with her family.

Her favorite of the TIC Core Values is Fun. She strives daily to contribute to making the Time Investment Company a joyous place to work, where employees feel valued and appreciated. “My team helps to create a fun atmosphere whether it is volunteering opportunities, fundraising competitions, luncheons, or just handing out candy on Fridays,” says Jayne. “We spend a lot of time working so why not have fun while we are here!?”

Todd Figard

Director of Servicing/Chief Compliance Officer

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Todd has more than 20 years of leadership and management experience in the credit and collections field. He has diverse experiences managing a variety of portfolios and debt types, including auto loans, personal loans, medical debt, utilities, credit card collections, and government debt. He has a proven track record of maximizing recoveries of delinquent and charged-off debts.

Todd joined the Time Investment Company after meeting with the owners and senior leadership and noticing and seeing that our vision and values aligned with his own. He enjoys working with others and working for a company that values people and relationships above everything else. Prior to joining TIC in 2018, Todd worked in a variety of collections and operations roles for Van Ru Credit Corporation, culminating in more than a nine-year stint as general manager.

Outside of work, Todd enjoys outdoor activities such as hiking, biking, and swimming. He also enjoys stargazing, traveling, and putting his Nikon P900 camera to good use. A lifelong learner, Todd enjoys listening to audiobooks and podcasts on business, success, spirituality, theology, health, and anything else that will help to learn and to grow as a person, and better serve his family, community, business associates, and customers.

Todd’s favorite of the TIC Core Values is Integrity. “Integrity and Trust are the foundation that other values rest upon,” says Todd. “True integrity isn’t always popular or convenient, but it is the path I have chosen.”

Paul Worachek

Chief Credit Officer

With three decades of experience in the lending and credit industry, Paul is one of our newer leaders on the team. He joined TIC in May of 2022. “TIC has a terrific reputation in our industry and is a family-owned, values-based company,” says Paul, and this reputation is part of what led him to join TIC as the Chief Credit Officer. “This is the atmosphere and culture I enjoy, and our customers appreciate.”

Paul’s career has focused on credit underwriting, leadership, business development, risk management, and customer success. He enjoys creating a positive experience for customers and team members.

Prior to joining the Time Investment Company, Paul was Vice President of Lending at Marine Credit Union and Regional Vice President of Heights Finance Corporation. He holds a BBA in finance from the University of Wisconsin – Whitewater.

Paul enjoys spending time with his family and friends. He especially enjoys the family cottage trips, annual family apple picking, trips to the Caribbean, and getting to as many Packers, Badgers, and Brewers games as possible. When he isn’t working, you will find Paul outside enjoying a round of golf, going for a walk, or just working in the yard.

Paul’s favorite of the TIC Core Values is Fun:

“Having fun at work is critical in making the other four Values thrive,” says Paul. “We work hard each day striving for excellence, and it is important to enjoy the journey.’

Jonathan Gelhaus

Chief Information Officer

As Time Investment Company’s chief technologist, Jon has more than two decades of information technology experience in the consumer finance and commercial insurance industries. His career focus is on leading effective digital transformation and leveraging technology to create more efficient business workflows. Over the years, Jon has held roles in data security, infrastructure, data warehousing and business intelligence, application development, compliance, and information security.

Prior to joining TIC in 2021, Jon held C-level roles in a private equity-owned consumer finance company where he was a key member of a management team driving double-digit year-over-year growth which ultimately led to a successful sale of that business and a profitable exit for the PE firm.

In 2021 he joined TIC’s leadership with a focus on personal relationships that drive success, not only for our company but also for our dealers and contractors.

Jon’s hobbies include touring the country on his motorcycle, traveling, baking, and camping with his wife of 23 years and 3 young adult children. He lives in West Bend.

His favorite TIC Core Value is Generosity.

“It is not enough to only be successful,” says Jon. “You also need to use that success to make your community a better place to be.” Jon is committed to fostering and nurturing personal relationships that drive success not just for TIC, but also for our dealers and contractors.

Mike Farrell

Chief Operating Officer

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Mike Farrell came to Time Investment Company in 2017, for the opportunity to create unique company growth in the indirect lending industry. He has more than 20 years of experience in banking and commercial lending.

Prior to joining TIC, Mike was the managing director of BlueTrail Finance from 2015 to 2017. Mike spent eight years as President, COO, and CFO of Axiom Bank in Orlando, Florida. Before that, he had a 19-year career at Fifth Third Bank, including experience in business development and finance roles. Mike holds a B.S.B.A. from the University of Dayton and an M.B.A. degree from Xavier University.

His hobbies include cycling, golfing, and hanging out at the beach.

Mike’s favorite of the TIC Core Values is Service. “I have always believed in building valuable relationships.”

John Hafeman

Vice-President, Director of Business Development

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As Director of Business Development, John Hafeman heads our sales team at Time Investment Company. He’s been with TIC for 29 years.

Prior to joining TIC in 1993, John was an outside sales representative for a Wisconsin-based office supply company. He started with TIC as a collection and customer service representative. But his hard work, dedication, and integrity earned him numerous promotions, and he was soon heading up the entire customer service and collection department.

At the same time, John was putting his sales experience to work, working with Tom on the dealer development and dealer relations side of the business.

Today, John oversees all aspects of business development at Time Inc., working tirelessly to build and cement the company’s relationships with contractors, dealers, home improvement firms, water treatment companies, and anyone else whose customers need an affordable financing solution.

Of all the Time Investment Company Core Values, the ones that resonate with John the most are Fun and Generosity, as these two have been keys to getting him through the many trials and challenges along the way.

“Being generous with our time, talent, treasures, and having fun along the way is what it’s all about to me!” says John.

Outside of the office, John enjoys fishing, hunting, and the great outdoors of Northern Wisconsin. He is an avid golfer and member of the West Bend Country Club.

Tom Hafeman

President

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Tom Hafeman began his career working alongside his brother Mike, doing collections for another finance company. He then took a year off to caddie for his sister Mary, a pro golfer in the LPGA. (Mary won the Women’s Eastern Amateur Tournament in 1981).

Shortly after Tom returned to a more traditional career path, the Time Investment Company was born.

“My brother Mike dreamed of starting his own consumer finance company, and I was just along for a short ride,” says Tom. Here I am, 39 years later, the President of the company, and living the American Dream!”

As a veteran of nearly 40 years with the company, Tom credits his success at TIC to the solid foundation in collections and sales that he and his brother developed over the years.

Outside of work, Tom has a passion for big game hunting and bowhunting and is active in wildlife management. He also enjoys traveling and spending time with his family.

As President of Time Investment Company, Tom played a big role in defining the company’s five Core Values: Service, Excellence, Integrity, Fun, and Generosity, and strives to live them every day.

Mike Hafeman

Chief Executive Officer

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As one of the original co-founders of the Time Investment Company in 1981, Michael Hafeman has a lifelong passion for entrepreneurship. After cutting his teeth working in collections for another consumer finance company in the late 70s, Michael realized that contractors and home improvement companies had a huge unmet need for a first-rate consumer finance company to work alongside with to help make their services affordable for middle-class customers.

“I felt there was a great need for a quality financing partner,” Michael explains. “We would create success by building long-term beneficial relationships not just with contractors, but also with doctors, dentists, and anyone who provides services people need but can’t always afford to pay cash for up front.”

An expert both in consumer finance and life safety industries, Michael was the CEO of the Dallas-based MasterGuard Fire Safety Solutions, an international fire alarm wholesaler, from 1994 to 2000.

His hobbies include spending time with his family, traveling, golfing, and exercising.

Michael relates most strongly to the TIC core value of “Fun:” There’s a cherished poster hanging in the company conference room with a quote from Walt Disney saying, “it’s kind of fun to do the impossible.”

Michael loves what he does, and his energetic and infectious attitude helps make the rest of us love it, too.