One of the most frustrating things about being a new contractor is that some of the most useful tools have a “2-3 years in business” requirement. GreenSky is one of them. If you are in year 1 or year 2 and you want to offer financing to close bigger jobs, the good news is that the platforms with the largest lender networks do not have a business age requirement. Here is how to start offering financing from day one, what the real requirements are, and how to structure it so the costs make sense at low volume.
The Barrier for New Contractors
GreenSky requires applicants to have been in business for 2-3 years, depending on the program. Some other traditional financing platforms and dealer programs have similar minimums. The logic from the lender’s side is that business longevity is a proxy for stability, the assumption being that a 3-year-old business is less likely to disappear mid-project than a 6-month-old one.
This creates a catch-22 for new contractors: the tool that would help them close bigger jobs and grow faster is unavailable during the years when closing bigger jobs matters most. The workaround is knowing which platforms do not have this barrier.
Platforms Accessible from Day One
Hearth does not have a stated business age requirement. New contractors can apply, and approval is based on verifiable business identity, an active business bank account, and licensing for their trade rather than years of operating history. Hearth’s flat annual fee model (around $1,799 per year as of 2026) gives new contractors access to 18-plus lenders without paying per-job dealer fees. The tradeoff: the annual fee is a meaningful cost before you know what your financed volume will be. More on the math below.
Wisetack similarly has no published minimum business age. The application requires basic business information, a bank account, and trade licensing, but there is no “years in business” gate. Wisetack’s per-job fee model (starting at 3.9%) has no upfront cost and no annual commitment, which makes it the lower-risk starting point for a new contractor who is not yet sure how much volume they will finance.
What Most Platforms Do Require Instead
Even without a business age requirement, most platforms need to verify a few basics:
- Active business bank account. The account needs to have transaction history, not just be newly opened. Some platforms want 3-6 months of bank history to confirm the account is active.
- Business license or contractor license. Valid, current state licensing for your trade. This is typically required by the lender network, not just the platform.
- EIN (Employer Identification Number). If you are operating as a sole proprietor with just a SSN, some platforms will accept it, but an EIN is cleaner and separates your business identity from your personal credit.
- Verifiable business identity. Physical business address, business phone number, and a way to confirm you are a real operating contractor. A Google Business Profile with reviews helps here, even if it is only a few months old.
The Per-Job vs. Subscription Cost Analysis for New Contractors
The crossover point between Wisetack’s per-job model and Hearth’s annual subscription is roughly $46,000 in financed volume per year. Here is the math:
| Annual Financed Volume | Wisetack Cost (avg 3.9%) | Hearth Cost ($1,799/yr flat) | Cheaper Option |
|---|---|---|---|
| $10,000 | $390 | $1,799 | Wisetack |
| $25,000 | $975 | $1,799 | Wisetack |
| $46,000 | $1,794 | $1,799 | Break even |
| $75,000 | $2,925 | $1,799 | Hearth |
| $150,000 | $5,850 | $1,799 | Hearth (saves $4,051) |
For a new contractor in year 1 who has no idea yet how much volume they will finance, Wisetack at 3.9% per job is the right starting point. You have no upfront commitment, no annual fee to justify, and you only pay when you use it.
How to Include Financing in Your Pitch from Day One
You can lead with financing from the very first estimate you write, even if you just signed up last week. Homeowners do not know or care how long you have been on the platform. What they care about is whether monthly payment options are available.
The framing that works for new contractors is exactly the same as it is for established ones: introduce it early, before quoting the price, and remove the credit score concern proactively. “We work with a lender network that lets homeowners spread the cost over 12-60 months. Checking your options takes about 2 minutes and does not affect your credit score.”
Having it mentioned in your estimate document is also effective. A line that says “financing available, 0-60 month terms, check your rate with no credit impact” at the top of the proposal normalizes it before the price conversation starts.
What Volume to Expect in Year 1
Contractor financing attach rates in year 1 are typically low, not because the demand is not there, but because it takes a few conversations to get comfortable presenting it. Most contractors who start offering financing in their first year report financing 2-5 jobs before the end of the year. At $10,000-$15,000 average ticket, that is $20,000-$75,000 in financed volume.
At the low end of that range, Wisetack is the cheaper option. At the high end, you are approaching the break-even point where Hearth starts to make sense. Which is a good problem to have in year 1.
The Growth Path
The practical path for most new contractors:
Start with Wisetack because there is no annual fee and no commitment. Use it on every job where financing could help close. Track how many jobs you financed and the total volume. When your annual financed volume crosses $46,000, add Hearth. Use Hearth as your primary platform for its larger lender network and the flat-fee economics. Keep Wisetack active as a backup for customers who do not get approved through Hearth’s network, since the two platforms draw from different lenders and a decline on one does not necessarily mean a decline on both.
Running both platforms adds maybe 5 minutes of setup and costs you nothing extra as long as you are below the Hearth break-even point on whichever platform you are primarily using. Once you are above $46,000 in financed volume, Hearth pays for itself quickly.
For more on how financing works at different business stages, check out our guides on the beginner’s guide to home improvement financing, dealer fees in contractor financing, and the true cost of not offering financing.
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.