Compare alternatives to Synchrony financing for contractors. See installment loan options with fixed payments and multi-lender approvals.
Updated October 2026 · Published by Contractor Financing Solutions
Synchrony is an established provider of retail financing, offering contractors a credit card program that pays the business directly by ACH. For heating, cooling, and plumbing shops built around seasonal maintenance and repeat repair calls, the revolving Synchrony Project Card can give eligible customers a way to pay for repairs and future purchases.
The limitations become more noticeable when you sell larger projects like a complete HVAC overhaul, a full roof, or an extensive remodel. First, Synchrony is a revolving line of credit rather than an installment loan, meaning some promotional offers carry deferred-interest terms that customers need to understand. Second, merchant discount rates remain private until you sign an agreement. Finally, because Synchrony Bank acts as a single underwriter, homeowners who fall outside prime credit parameters may need to apply elsewhere if they are declined.
Choosing an alternative depends on what your current workflow lacks. Below, we compare the top competing platforms across credit formats, contractor fees, payout timelines, and multi-lender credit access.
Quick Take
Synchrony may be a good fit if a major share of your revenue comes from repeat service calls, tune-ups, and add-on repairs where a reusable card with brand recognition fits how your team quotes.
Consider an installment lender such as Service Finance, Foundation Finance, or Regions if you sell large one-time projects, prefer fixed monthly payments with a set payoff date, or want a repayment schedule that is easier to explain.
Consider a multi-lender marketplace like Contractor Financing Solutions if you want homeowners to explore offers from multiple participating lenders, including options that may accommodate different credit profiles. Available amounts and terms depend on lender approval.
Editorial Disclosure: Contractor Financing Solutions publishes this comparison and operates one of the multi-lender networks evaluated below. Provider details are based on the source materials cited in this article and may change. Merchant fees, credit cutoffs, and loan terms vary by trade, volume, and customer creditworthiness. Always verify current program agreements directly with each financing company prior to enrollment.
Note: Maximum loan amounts and credit limits depend on borrower creditworthiness and underwriter scorecards. “Undisclosed” indicates rates and terms are private until merchant onboarding.
| Provider | Product Type | Loan Amounts | Contractor Cost | Who Receives Funds |
|---|---|---|---|---|
| Synchrony | Revolving credit card (Project Card) | Credit limits undisclosed | Merchant discount fee (Undisclosed) | Contractor direct ACH less discount |
| Service Finance Company | Fixed-term installment loans | Undisclosed | Undisclosed (varies by plan) | Contractor direct ACH upon completion |
| GreenSky | Bank installment loans and promos | Up to $100,000 | Per-transaction fee (Undisclosed) | Contractor direct ACH (staged progress draws) |
| Contractor Financing Solutions | Multi-lender network (Installment) | Up to $100,000 | Enrollment fee + merchant fees apply ($0 dealer fee options available) | Contractor direct ACH or Homeowner |
| Foundation Finance | Retail installment contracts | Up to $100,000 | No sign-up fee; tiered plan dealer fees | Contractor direct ACH post-verification call |
| Regions Home Improvement | Bank installment loans | Undisclosed | No required costs, dealer fees on select plans | Contractor, typically within 24 hours |
| Wisetack | Embedded field app installment loans | $500 to $25,000 (up to $65,000) | Transaction fee from 3.9%, no subscription | Contractor, in 1 to 3 business days |
| Acorn Finance | Personal loan marketplace | $1,000 to $100,000 | $0 platform or dealer fees | Homeowner receives funds directly |
Synchrony offers trade financing through the Synchrony Project Card, a private-label consumer credit card. The customer applies online or by phone, receives a credit decision, and charges your job against their approved credit limit. For contractors with recurring client relationships, having that open line in the customer’s wallet may be useful when customers return for additional work.
On the operational side, technicians secure an authorization code for the job amount, complete a sales slip before work begins, and submit it for settlement through the Synchrony Transact merchant portal. Synchrony deposits the net proceeds into your business checking account via ACH, deducting their agreed merchant discount fee.
It helps to distinguish the commercial Project Card with the retail Synchrony HOME Credit Card. The Synchrony HOME card is intended for retail showrooms like furniture and flooring stores. For residential HVAC, roofing, and plumbing, the Project Card is the active product. Additionally, while Synchrony issues secured installment loans for utility trailers and power equipment, they do not offer that secured installment setup for residential remodeling contracts.
The core distinction between Synchrony and its installment competitors is how balances amortize and how promotional terms expire. Installment loans from providers like Service Finance, Foundation Finance, or Regions offer a set loan balance, a fixed monthly payment, and a defined payoff date although the exact terms depend on the loan.
In contrast, Synchrony cards frequently use deferred-interest promotions, such as no interest if paid in full within 12 or 18 months. Under this structure, interest is not waived at the start. Interest accrues during the promotional period at standard card APRs, which may be high. If the homeowner fails to pay off the entire balance before the promotional window closes, or falls 60 days behind on a minimum payment, the entire accrued interest from day one is added to their account.
Real-World Example: Deferred Interest on an $8,000 HVAC Installation
Consider a homeowner financing an $8,000 AC replacement on a 12-month deferred-interest plan at a standard 29.99% APR. They pay diligently all year, but still carry an unpaid balance of $500 entering month 13.
Under a deferred-interest credit card, they are not simply billed interest on that remaining $500. The lender charges retroactive interest on the entire running balance dating back to installation day, potentially adding a substantial interest charge. Under a standard installment loan, interest amortizes predictably. If they need an extra month, interest generally applies to the outstanding principal according to the loan agreement.
Synchrony does offer fixed-payment reduced-rate and equal-payment 0% APR plans that avoid this trap, while some installment competitors like GreenSky and Regions offer their own same-as-cash promotions. The key takeaway for your sales team is clear: offering deferred-interest promotions on high-ticket replacements makes it important to explain the payoff deadline and consequences of carrying a balance.
Contractor financing costs vary by provider and program. Those charges come out of your gross payout as a dealer fee, the customer’s interest rate, or both.
Synchrony, GreenSky, and Service Finance negotiate custom, unpublished dealer discount fees that fluctuate based on plan duration, your annual volume, and your trade. Promotional plans may have higher contractor fees than standard-rate plans; ask for a written fee schedule. Every point of dealer fee costs your company $80 on an $8,000 HVAC job and $450 on a $45,000 remodel. Wisetack publishes transaction fees starting at 3.9%, although the fee for a specific plan may be higher.
Disbursement routing also shapes your cash flow. Most lenders on this list deposit funds directly into your company operating account via ACH. Personal loan marketplaces like Acorn Finance charge contractors zero dealer fees because lenders pay the platform directly, but loan funds are deposited into the homeowner’s account, leaving your office to invoice and collect progress payments like a normal cash sale.
Owned by Truist Bank following a $2 billion acquisition, Service Finance operates as a licensed sales finance lender and approved FHA Title I originator. They provide over 50 promotional and standard installment plans, giving homeowners fixed monthly payments without revolving credit balances. For heating, cooling, and plumbing shops running ServiceTitan, native integration allows technicians to quote payment options right on mobile estimates.
Pros
+ Fixed-term installment loans give homeowners clear monthly payments and payoff dates.
+ Direct workflow integration for companies operating on ServiceTitan.
+ Bank-affiliated program with a range of financing options.
Cons
− Primary underwriting targets prime and super-prime credit profiles.
− Dealer fee schedules and credit caps are kept private.
− Certain promotional plans still use deferred-interest structures.
Explore in-depth: Service Finance alternatives review.
Backed by an investment consortium led by Sixth Street, GreenSky partners with depository banks like Synovus Bank to originate point-of-sale installment loans. Offering borrowing limits up to $100,000 with term options from 5 to 12 years, GreenSky stands out for its staged funding functionality, allowing contractors to draw down progress payments as phases finish to cover upfront supplies on roofing, siding, and remodeling projects.
Pros
+ Staged progress disbursements can support cash flow on multi-week jobs.
+ Integrated inside ServiceTitan, keeping existing quoting workflows intact.
+ Available in all 50 states with high $100,000 limits.
Cons
− Promotional plans still use deferred interest, carrying the same customer risk as Synchrony.
− Transaction fee schedules are private and customized per merchant.
− Underwriting focuses predominantly on prime credit profiles.
Explore in-depth: GreenSky alternatives review.
Foundation Finance works with over 12,000 contractors nationwide, with HVAC and residential remodeling among its core markets. For applicants who do not qualify for some bank programs, Foundation Finance underwrites retail installment contracts covering both first-look prime paper and second-look applications down to roughly 550 FICO. They provide financing up to $100,000, assess zero onboarding fees, and deliver loan terms stretching up to 240 months.
Pros
+ Second-look underwriting may provide another option for customers with credit scores between 550 and 640.
+ Zero registration or monthly platform fees, with low-fee rate buy-downs available.
+ Extended 20-year terms lower monthly payments on large system replacements.
Cons
− Payout is held until the customer completes a mandatory phone verification call post-job.
− Dealer fee schedules on second-look tiers can be substantial.
− Lacks native integration inside enterprise dispatch tools like ServiceTitan.
Contractor Financing Solutions (CFS) operates as a multi-lender financing marketplace rather than a single direct lender. Instead of relying on a single bank’s credit decision, a customer can explore financing through a network of participating lenders. Available programs may serve different credit profiles, with financing amounts up to $100,000 depending on the lender and applicant.
Pros
+ Multiple lending options may help customers compare offers beyond a single provider.
+ Initial prequalification uses a soft credit inquiry; a later full application may involve a hard inquiry.
+ Non-recourse arrangements may limit contractor exposure to borrower nonpayment, subject to the agreement.
Cons
− Requires an upfront contractor enrollment fee unlike zero-setup platforms.
− Baseline transaction fees start at 3.9%, though zero dealer fee plans exist.
− Payout routes vary depending on the participating lender selected.
EnerBank USA became part of Regions Bank in October 2021, operating today as Regions Home Improvement Financing. The program delivers installment loan options with fees that vary by program. Funding speed may be an advantage: once the homeowner verifies job completion by text or phone, Regions typically settles funds into your account via ACH within 24 hours.
Pros
+ Direct ACH funding may help contractors manage payment collection.
+ Zero recurring monthly platform fees, with dealer charges disclosed in advance.
+ Established white-label programs for trade buying groups and dealer distributors.
Cons
− Same-as-cash promotions add accrued back interest if unpaid within the promo window.
− Underwriting reflects strict commercial bank criteria with no automated second look.
− Fee schedules and maximum loan amounts are not posted on public merchant pages.
Wisetack delivers embedded consumer financing directly within popular field service platforms including Jobber, Workiz, and Housecall Pro. Instead of managing a separate credit card terminal, technicians attach monthly payment choices directly onto mobile estimates and digital invoices. Financing covers jobs from $500 to $25,000 under standard accounts, with limits extending up to $65,000 for qualifying accounts. There are no monthly platform fees, and transaction fees start at 3.9%.
Pros
+ Public baseline fee starting at 3.9% allows accurate project pricing before onboarding.
+ Fixed monthly installments rather than an open revolving credit card balance.
+ Available inside estimates and invoices technicians already send.
Cons
− Baseline $25,000 threshold can restrict large commercial or whole-house mechanical jobs.
− Requires verified business revenue of at least $150,000 annually and a year in business.
− Transaction fee applies across all financed tickets.
Explore in-depth: Wisetack alternatives review.
Acorn Finance is an open consumer loan marketplace connecting homeowners with more than 20 commercial lenders. For trade contractors, the financial model is simple: zero dealer fees, zero setup costs, and zero subscription charges. Acorn is compensated directly by its lending partners upon loan origination. Approved loans reach up to $100,000. Funds wire directly to the homeowner’s personal bank account, typically within one business day of lender selection.
Pros
+ Completely free for contractors, avoiding a financing fee charged to the contractor.
+ Multiple competing loan offers presented to the client in a single view.
+ No contractor dealer fee to factor into the project estimate.
Cons
− The customer receives the payout, meaning your office carries collection responsibilities.
− Lacks promotional zero-interest programs to use as in-home closing tools.
− Does not support contractor-directed staged progress disbursements.
Explore in-depth: Acorn Finance alternatives review.
Different trades carry distinct margin profiles and job cycles. Use this practical framework to select the financing system that aligns with your operations:
Reusable Credit
Stay with Synchrony if:
Fixed Installments
Choose Direct Installments if:
Multi-Lender Waterfall
Consider a Marketplace if:
While Synchrony provides a recognizable revolving card product, a single financing provider may not meet every customer’s needs. If a homeowner is declined, another financing option may help them evaluate whether the project is affordable.
Contractor Financing Solutions (CFS) offers access to financing options through participating lenders. By connecting to 30+ institutional lenders via a single digital pre-qualification application, CFS lets eligible homeowners check available offers with an initial soft credit inquiry. Approval is not guaranteed.
For more options, see our GreenSky alternatives and Service Finance alternatives guides.
If you’re adding financing for the first time or expanding your current options, CFS can help you compare programs by typical project size, customer mix, and payment preferences.
Contractor Financing Solutions is a financial technology platform and loan marketplace, not a direct lender. Financing is provided exclusively by participating third-party financial institutions. Loan approvals, interest rates, maximum loan limits, and terms depend upon borrower qualification and lender underwriting parameters.
We assessed each financing platform across six practical operational metrics: credit product structure (revolving line vs. closed-end installment), contractor fee transparency, advertised loan ceilings and durations, disbursement turnaround times, accessibility across prime and non-prime credit profiles, and native field software compatibility. The comparison uses the cited provider pages and publicly described product features. Pricing, eligibility, integrations, and funding practices should be confirmed with each provider.
The best alternative to Synchrony depends on the work you sell and how you prefer to get paid. A revolving card can suit repeat customers, while installment loans may be easier to budget for larger projects. Compare written contractor fees, customer repayment terms, and funding procedures before choosing a provider. You can also offer more than one financing option so customers can evaluate what works for them.
The top alternative depends on your operational bottlenecks. For enterprise HVAC and plumbing shops using ServiceTitan, Service Finance Company provides bank-backed installment loans. For high-ticket remodeling requiring progress payments, GreenSky supports staged draws. For near-prime credit down to 550 FICO, Foundation Finance excels in second-look approvals. For zero dealer fees, Acorn Finance matches homeowners to personal loans, while Contractor Financing Solutions offers an access to multiple participating lenders.
The Synchrony Project Card is an open-ended revolving credit card issued by Synchrony Bank, not a closed-end installment loan. Homeowners receive an authorized credit limit and can make recurring charges for future repairs, system maintenance, or add-ons, subject to credit availability and periodic merchant promotions ranging from 6 to 132 months.
Under a deferred-interest promotion, interest accrues continuously at the card’s standard variable APR from the date of purchase, but is waived if the total purchase balance is paid in full within the designated promotional window. If any balance remains when the period expires, or if a payment is delinquent beyond 60 days, the entire accrued interest amount from day one is charged to the borrower’s account.
The Synchrony HOME card is a retail card meant for furniture, appliances, and home decor at participating retail storefronts. The Synchrony Project Card is specifically issued for contracting and mechanical trade services like HVAC, roofing, siding, and plumbing, and is marketed through home improvement merchant dealer accounts.
Contractors apply directly through Synchrony’s commercial sales division via online application or merchant phone line. Once vetted and enrolled, contractors submit completed sales slips or digital transaction requests via the Synchrony Transact portal. Synchrony settles funds via direct ACH deposit into the business operating account, less the agreed-upon merchant discount fee.
Synchrony does not offer a standalone home improvement installment loan. Its home services vertical is built around the revolving Project Card. While Synchrony provides secured installment financing for products like utility trailers and power equipment, home improvement projects are financed under revolving card promotions (including equal-payment and reduced-interest options).
Foundation Finance specializes in first- and second-look financing, reviewing credit profiles down to approximately 550 FICO. Additionally, multi-lender marketplaces such as Contractor Financing Solutions provide access to financing programs with different eligibility requirements.
The majority of dedicated point-of-sale contractor platforms, including Service Finance Company, GreenSky, Foundation Finance, Regions Home Improvement, Wisetack, and direct-pay programs within Contractor Financing Solutions, disburse funds directly to the contractor’s business bank account via ACH upon customer sign-off. The primary exception is personal loan marketplaces like Acorn Finance, where funds are disbursed directly to the homeowner’s personal account.
Explore financing programs from 30+ participating lenders, including options that pay contractors directly. See which programs fit your projects, customers, and business.
Company and product names belong to their respective owners. Mentioning a third-party provider does not imply affiliation or endorsement. This article is an editorial comparison published by Contractor Financing Solutions.
Contractor Financing Solutions is not a lender and does not make credit decisions. Financing is offered by independent participating lenders. Loan approval, available amounts, APRs, repayment terms, and funding timelines vary by lender, borrower qualifications, and applicable state requirements. Checking available offers uses a soft credit check that will not impact credit scores; a hard inquiry may occur only if a borrower chooses an offer and submits a full application. Non-recourse arrangements are subject to the applicable lender and contractor agreements and do not eliminate obligations arising from fraud, refunds, cancellations, or contractual disputes.
Estimate potential returns from offering customer payment plans.
Additional Monthly Revenue
Revenue: $90,000 → $120,000
Disclaimer: Results are estimates for illustrative scenario planning only and do not guarantee future revenue, approval rates, or closing percentages. Actual revenue will vary based on customer creditworthiness, project scope, lender terms, and merchant processing fees.
Offer monthly payments to homeowners in three simple steps, without becoming a lender or handling customer loan payments.
Share your link by text, email, estimate, or in person. Homeowners complete one quick application to explore offers from multiple lenders, starting with a soft credit check that won’t affect their credit score.
Every estimate you send without a monthly payment option is a deal you’re leaving to chance. Get started with Contractor Financing Solutions and give your next homeowner an easier way to say yes.
