Aqua Finance President and CEO Robert Chadwell founded the company in 1986. He had previous experience in banking, and as a water treatment dealer, and wanted to provide financing to the water treatment industry. When Chadwell was a water treatment dealer himself, he saw the need for accounts receivable financing to fund his customers and generate cash flow.
Chadwell started creating programs he knew would help dealers to close sales. In addition to helping them with financing, Aqua Finance makes a goal to understand the dealer’s customers, product and sales process.
Aqua Finance is still in water treatment — though it now makes up around 60 percent of the business, rather than 99 percent, when it was starting out — offering financing and loans to help provide clean, safe water to families.
With 5,000 dealers in Aqua Finance’s network, some of whom have 30,000 customers, the business is not having much trouble expanding into other industries. It also does financing for home improvement, HVAC, vacuum and medical markets.
