GreenSky has been a fixture in contractor financing for over a decade, particularly in HVAC and roofing through manufacturer partnerships and dealer networks. But the complaints have piled up, the fee structure has become increasingly expensive on promotional products, and the platform has changed ownership twice in three years. A lot of contractors are actively looking for something better.
Here are the five best GreenSky alternatives, what each one costs, and which type of contractor each one fits best.
Why Contractors Are Looking for GreenSky Alternatives
Before getting into the alternatives, it is worth naming the specific reasons contractors leave GreenSky. Understanding the pain points helps you pick a replacement that actually solves them.
Dealer fees on promotional products: GreenSky’s standard loan dealer fees run 3 to 6%. On promotional 0% APR products, those fees climb to 8 to 15% or more. On a $20,000 HVAC job with a 12-month 0% promotional period, you might net $17,200 after a 14% dealer fee. That $2,800 comes straight out of your margin.
Hard credit pull: GreenSky typically requires a hard credit inquiry, which affects the homeowner’s credit score. This creates friction in the sales process. Platforms like Hearth and Wisetack use soft pulls for pre-qualification, so homeowners can check their options without any credit impact.
Business age requirement: GreenSky generally requires 2 to 3 years in business. Contractors who are newer cannot qualify, regardless of their personal credit or business revenue.
FICO minimum: GreenSky’s credit floor sits around 600. Hearth accepts customers starting at 550. That 50-point gap closes deals that GreenSky would have declined.
Regulatory and consumer complaint history: In 2021, GreenSky entered a consent order with the CFPB requiring $9 million in consumer refunds and a $2.5 million civil penalty, related to unauthorized loan originations. Their Trustpilot rating sits at 1.6 out of 5 based on hundreds of consumer reviews, driven primarily by billing disputes and deferred interest complaints.
Top 5 GreenSky Alternatives
1. Hearth
Hearth is the most direct GreenSky alternative for contractors who want to keep offering financing but stop paying per-job dealer fees. Instead of a percentage per transaction, Hearth charges a flat annual subscription of approximately $1,799 per year on their most popular plan.
The core advantages over GreenSky:
- $0 dealer fee per job (vs GreenSky’s 3 to 15%)
- 550 FICO minimum (vs GreenSky’s ~600)
- Soft credit pull for pre-qualification (vs GreenSky hard pull)
- Loans up to $250,000 (vs GreenSky’s $100,000 cap)
- No business age requirement
- 18 plus lending partners (vs GreenSky as single direct lender)
- Trustpilot 4.3/5 (vs GreenSky’s 1.6/5)
The break-even math: if you average 8% in GreenSky dealer fees on your financed jobs, Hearth becomes cheaper at roughly $22,500 in annual financed volume. Most contractors who use financing at all exceed that in a month or two.
Best for: Multi-trade contractors with meaningful financed volume, larger jobs above $25,000, and contractors who want to serve near-prime customers (550 to 600 FICO).
2. Wisetack
Wisetack is the cleanest per-transaction alternative to GreenSky for lower-volume operations or contractors who want no annual commitment. Wisetack charges 3.9% per funded loan with no monthly or annual fees.
The advantages over GreenSky at standard rates:
- 3.9% base fee (vs GreenSky’s 3 to 6% standard, 8 to 15%+ promotional)
- Faster approvals (under 60 seconds vs GreenSky’s longer process)
- Trustpilot 4.8/5 (vs GreenSky’s 1.6/5)
- Soft credit pull for pre-qualification
- No business age requirement publicly stated
The limitation: Wisetack caps individual loans at $25,000. If your jobs regularly exceed that, Wisetack alone cannot cover your pipeline.
Best for: Service trades and lower-ticket jobs under $25,000, contractors getting started with financing who want zero upfront commitment.
3. EnerBank / Regions Home Improvement Financing
EnerBank (now operating as Regions Home Improvement Financing under Regions Bank) is one of the most stable platforms in contractor financing. Regions Bank is a top-10 U.S. bank by assets, which means EnerBank does not carry the platform risk that comes with smaller fintech lenders.
The standout product is EnerBank’s Zero Interest Loan (ZIL): a true 0% APR loan where interest does not accrue during the promotional period. This is different from deferred interest products that charge back accumulated interest if the balance is not paid off in time. The ZIL is a genuinely clean 0% product, which matters when you are using it as a sales tool with homeowners who are skeptical of “zero interest” offers.
Dealer fees range from 0 to 16.4% depending on the loan product. The ZIL and other promotional products carry higher fees, but the ZIL’s true 0% structure can command a premium in situations where competitors offer deferred interest products instead.
Best for: HVAC contractors, roofing contractors doing storm restoration and deductible financing, contractors who want a bank-backed platform with institutional stability.
4. Service Finance Company
Service Finance Company (svcfin.com) is a large home improvement financing platform that is particularly common among HVAC and roofing dealers. It is an FHA Title I lender and operates in all 50 states. Enrollment as a dealer is free, with no monthly minimums and a 24 to 48 hour approval process.
Service Finance funds dealers via ACH within 24 to 48 hours of job completion. Their dealer fee structure varies by loan product and promotional terms, but the platform is known for serving high-volume dealers well with dedicated account management and digital document handling.
Best for: High-volume HVAC and roofing operations that want a platform specifically built for dealer programs with manufacturer integrations.
5. Foundation Finance Company
Foundation Finance Company is a strong option for home improvement contractors in bath, kitchen, windows, doors, siding, and roofing. Enrollment is free, setup takes 48 hours, and there are no monthly minimums or volume requirements.
Foundation Finance offers installment financing up to $100,000 with terms up to 240 months (20 years). That extended term structure allows monthly payments on large remodeling projects to come in at very manageable levels, which helps close high-ticket jobs that might otherwise feel unaffordable to homeowners on a fixed budget.
They also have a contractor referral program, where you can earn rewards for referring other contractors who enroll and start using the platform.
Best for: Bath and kitchen remodelers, window and siding contractors, general home improvement contractors who need longer terms on higher-ticket projects.
Full Comparison Table
| Platform | Fee Model | FICO Min | Loan Max | Credit Pull | Business Age | Trustpilot |
|---|---|---|---|---|---|---|
| GreenSky | 3 to 15% per job | ~600 | $100,000 | Hard | 2 to 3 years | 1.6 |
| Hearth | ~$1,799/yr flat | 550 | $250,000 | Soft | None listed | 4.3 |
| Wisetack | 3.9% per job | ~540 | $25,000 | Soft | Not stated | 4.8 |
| EnerBank/Regions | 0 to 16.4% per job | Not disclosed | Varies | Varies | Not stated | Not listed |
| Service Finance Co. | Varies by product | Not disclosed | Varies | Varies | Not stated | Not listed |
| Foundation Finance | Varies by product | Not disclosed | $100,000 | Varies | None listed | Not listed |
The Fee Savings Calculation
If you are doing $200,000 in annually financed projects and currently on GreenSky at an average 8% dealer fee, here is what switching to each alternative saves you per year:
- GreenSky at 8%: $16,000 per year in fees
- Switching to Hearth: $1,799 per year. You save $14,201 annually.
- Switching to Wisetack: $7,800 per year at 3.9%. You save $8,200 annually.
At $500,000 in annual financed volume:
- GreenSky at 8%: $40,000 per year in fees
- Hearth: $1,799. You save $38,201 annually.
This math is why contractors with meaningful volume consistently move away from per-transaction fee models as their business grows.
Should You Keep GreenSky as a Secondary Platform?
Some contractors keep GreenSky as a second option even after adding Hearth or Wisetack as a primary. If you have an existing GreenSky relationship that is working, manufacturer integrations that route through GreenSky, or customers who specifically want a GreenSky promotional product, there is no reason to cut it entirely.
Running two platforms is common. The key is making your primary platform the one with the lowest cost structure at your volume and using GreenSky only where it adds something you cannot get elsewhere.
The Bottom Line
For most contractors who want to reduce or eliminate per-job dealer fees, Hearth is the most direct GreenSky replacement. For lower-volume operations or those getting started without an annual commitment, Wisetack is a strong alternative. For HVAC and storm restoration contractors who want the best 0% APR product available, EnerBank’s ZIL is worth a close look.
The common thread in all these alternatives: better fee structures, better consumer reviews, and none of the regulatory history that follows GreenSky around.
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.