If you have been comparing contractor financing platforms recently, you may have noticed that the market looks different than it did even a year ago. Mosaic filed for Chapter 11 bankruptcy in June 2025 and stopped originating new loans entirely. Sunlight Financial went through its own restructuring. The solar-first lenders that dominated headlines in 2022 and 2023 are largely either gone or diminished.
This matters if you are a contractor evaluating who to partner with for homeowner financing. Here is where each of these platforms stands as of early 2026 and how Hearth compares to all three.
The Quick Answer on Mosaic: It Is Gone
Mosaic filed for Chapter 11 bankruptcy on June 6, 2025, and ceased all new loan originations in May 2025. Solar Servicing LLC, a subsidiary of Forbright Bank, acquired Mosaic in September 2025. The acquisition specifically covers servicing the existing $8 billion loan portfolio. No new loans are being issued under the Mosaic brand.
If you are a solar or home improvement contractor who was using Mosaic, you need a new platform. Mosaic is not an option for new business.
The underlying causes were a combination of rising interest rates that made consumer solar loans more expensive, a 31 percent decline in solar installations in 2024, and the expiration of the federal solar tax credit (Section 25D) at the end of 2025. Several other solar-focused lenders are dealing with the same headwinds.
Sunlight Financial: Restructured but Operating
Sunlight Financial also went through bankruptcy, filing in October 2023 and emerging from restructuring in December 2023 with a new ownership consortium including Greenbacker Capital Management, Sunstone Credit, and IGS Ventures. As of early 2026, Sunlight is still actively originating loans.
That said, Sunlight Financial carries the baggage of a recent bankruptcy and faces ongoing class action litigation. A Minnesota attorney general lawsuit filed in March 2024 named Sunlight, GoodLeap, Mosaic, and Dividend Solar, alleging $35 million in hidden fees inflated into loan balances on more than 5,000 loans. That litigation is still active as of early 2026.
Sunlight Financial at a glance (as of early 2026):
- Dealer fees: 15 to 25 percent per transaction
- APR range: Starts around 3.99 to 7.99 percent depending on terms and credit
- FICO minimum: Approximately 600 to 650
- Loan maximum: Up to $100,000
- Primary focus: Solar installations, some HVAC and home improvement
EnerBank (Now Regions Home Improvement Financing)
EnerBank is the most stable platform in this comparison. It is owned by Regions Bank, one of the largest banks in the Southeast, and has approved over one million home improvement loans. Unlike the solar-focused lenders, EnerBank serves general home improvement broadly: HVAC, roofing, windows, doors, siding, remodeling, and plumbing.
EnerBank at a glance:
- Dealer fees: 0 to 16.4 percent depending on loan product
- APR options: 0% fixed (Zero Interest Loan), 2.99%, 4.99%, 6.99% fixed rates available
- FICO minimum: Not publicly disclosed, but 80 percent approval rate reported
- No annual subscription fee for contractors
- Approval speed: Decisions typically within 1 to 3 business days
- Strong contractor support and online document signing
EnerBank’s standout product is their Zero Interest Loan (ZIL), a true fixed 0% APR loan where interest does not accrue during the promotional period. This is genuinely different from deferred interest products that charge back interest retroactively if not paid off in time. EnerBank’s ZIL is one of the few clean 0% products in the contractor financing market.
EnerBank is particularly popular for storm restoration scenarios where homeowners need to cover insurance deductibles or pay for upgrades beyond what insurance covers. The 0% structure makes that conversation easy.
Hearth: The Multi-Trade Alternative
Hearth is built differently from all three of the above platforms. Rather than being a direct lender or a solar-specific platform, Hearth is a marketplace that connects homeowners to a network of 18 plus lending partners through a single application. This means a homeowner who does not qualify with one lender may still get funded through another.
Hearth at a glance:
- Cost to contractor: Annual subscription ($1,499/$1,799/$4,999 per year), zero per-transaction dealer fees
- APR range: Starts around 4.9 percent, up to 35.99 percent depending on credit profile
- FICO minimum: 550 (lowest among major platforms)
- Loan maximum: $250,000
- Loan terms: 2 to 12 years
- Credit pull: Soft only for pre-qualification
- Trades covered: Roofing, HVAC, plumbing, electrical, windows, siding, bathroom, kitchen, and more
Side-by-Side Comparison Table
| Feature | Hearth | Sunlight Financial | Mosaic | EnerBank |
|---|---|---|---|---|
| Status (early 2026) | Operating | Operating (post-bankruptcy) | Bankrupt, no new loans | Operating (Regions Bank) |
| Dealer Fee Model | Annual subscription, $0 per job | 15 to 25% per transaction | N/A | 0 to 16.4% per transaction |
| FICO Minimum | 550 | 600 to 650 | N/A (defunct) | Not disclosed |
| Max Loan | $250,000 | $100,000 | N/A | Varies by product |
| APR Starting Point | ~4.9% | ~3.99% | N/A | 0% (ZIL product) |
| Approval Rate | 70 to 85% | Not disclosed | N/A | 80% (reported) |
| Primary Trade Focus | Multi-trade | Solar primary | Solar (defunct) | Home improvement, HVAC, roofing |
| Legal Issues | Minor customer complaints | Active class action (MN AG) | Bankruptcy | None noted |
Which Platform Makes Most Sense for Different Contractors
Solar contractors: With Mosaic gone, Sunlight Financial is the main remaining solar-specific option, but the legal headwinds and bankruptcy history are concerns. GoodLeap is another option in the solar space, though also named in the same Minnesota class action. Many solar contractors are diversifying to platforms like EnerBank that are not solar-dependent.
HVAC contractors: EnerBank and Hearth are both strong options. EnerBank’s ZIL product is excellent for seasonal upgrade selling where 0% financing closes the deal. Hearth’s multi-lender model helps with customers who have lower credit scores.
Roofing contractors: EnerBank’s ZIL is effective for storm restoration and insurance deductible scenarios. Hearth covers roofing explicitly and gives you higher loan limits. GreenSky is also widely used in roofing but charges higher dealer fees.
General remodeling contractors: Hearth is purpose-built for this. The multi-trade support, higher loan limits, 550 FICO minimum, and bundled software make it a natural fit for bathroom and kitchen remodelers, siding and window companies, and multi-trade operations.
What the Mosaic Collapse Tells You About Platform Risk
The Mosaic situation is a reminder that financing platforms are not all equally stable. Mosaic was processing billions in solar loans as recently as 2023. A year and a half later, it stopped originating entirely.
This does not mean you should avoid newer platforms or market-specific lenders. But it does mean it is worth understanding who owns the platform, how they are capitalized, and whether they are dependent on a single policy or market condition to survive.
EnerBank’s bank backing through Regions provides the most institutional stability. Hearth is venture-backed with Series B funding and over $500 million in funded projects. Neither has the existential exposure that came with being a pure solar lender during a solar market downturn.
The Bottom Line
Mosaic is no longer an option. Sunlight Financial is operating but has baggage you should weigh carefully. EnerBank is a solid, conservative choice with strong bank backing and a genuinely good 0% product. Hearth is the most flexible multi-trade option with the lowest FICO minimum and the subscription cost model that scales well for growing contractors.
If you are building a financing program for your contracting business in 2026, the most defensible approach is to pair Hearth as your primary platform (for its broad lender network and low FICO acceptance) with EnerBank as a secondary option (for their 0% ZIL product on specific deal types). That combination covers most homeowner credit profiles and gives you the best promotional financing tool for storm restoration and seasonal upgrade scenarios.
Ready to See If Hearth Makes Sense for Your Business?
Hearth gives contractors access to 18 plus lenders at a flat annual rate with no per-job dealer fees. If you finance more than $36,000 in projects per year, the math almost always works in your favor.