The Best GreenSky Alternative for Contractors: Ditch the Dealer Fee
GreenSky's program funds home-improvement loans through sponsor banks and charges the contractor a dealer fee on every financed transaction — and it adds up fast: dealer fees commonly run into the teens, 10%–20%+, especially on the 0% APR promotions most contractors actually use to close deals. Contractors switch when that math erodes bids: alternatives include flat-subscription platforms with no per-loan fee (Hearth), pay-per-use embedded financing (Wisetack), and free marketplaces (Acorn Finance).
- No per-loan dealer fee — flat annual subscription
- 18+ lenders, FICO scores down to 550 served
- Dealer fees on 0% APR promos commonly run 10%–20%+
The dealer-fee math, honestly
GreenSky markets the teaser rate. You're the one who pays for it. On the 0% APR promotions contractors reach for most, the dealer fee commonly runs 10%–20%+ — straight out of the margin you just closed the job to protect.
One job, on a typical 0% APR promo tier.
Not a rounding error — a real line item.
Fixed, no matter how many jobs you finance.
GreenSky's fee varies by promotional plan — standard-rate tiers start lower, but the 0% APR and deferred-interest promos contractors most commonly offer typically carry fees in the 10%–20%+ range. GreenSky does not publish current fees publicly; confirm your exact terms directly with GreenSky's sales team. All lending via third-party lenders; rates and terms vary by lender and customer credit.
The alternatives, compared
| GreenSky | Hearth | Wisetack | Acorn Finance | |
|---|---|---|---|---|
| Contractor cost | Dealer fee, commonly 10%–20%+ on 0% APR promos | $1,499–$4,999/yr flat, no per-loan fee | 3.9%+/transaction | $0 |
| Loan max | $100K | $250K | $25K (some $65K) | $100K |
| Model | Bank-sponsored promo loans | Multi-lender marketplace, 18+ lenders | Embedded in FSMs | Free marketplace |
| Promo 0% APR selling | Core strength | Standard-APR offers | Available, higher fee | Limited |
| Extra tooling | Financing-focused | Quotes, contracts, invoicing, payments, Harper AI | FSM-native payments | Light |
All lending via third-party lenders; rates and terms vary by lender and customer credit.
Switching without losing deals
Run your last 12 months of financed jobs × fees paid
That number vs. $1,499–$4,999 is the whole decision.
Keep your promo story
Standard-APR marketplace offers with the payment quoted up front ("from ~$310/mo, illustrative") close most of what teaser rates close — without the fee.
Trial in parallel
Nothing prevents running Hearth next to GreenSky for 60 days and comparing close rate and net margin per financed job.
Your top questions, answered
What does GreenSky cost contractors?
GreenSky charges a dealer fee per financed transaction that varies by promotional plan — standard tiers start lower, but the 0% APR and deferred-interest promos most contractors actually offer typically carry fees of 10%–20%+. GreenSky doesn't publish current fees publicly; confirm your exact terms with their sales team.
What's the best GreenSky alternative for a contractor who finances often?
A flat-fee model. At regular volume, per-job dealer fees exceed a flat subscription fast — e.g., 12 financed $15K jobs at a 15% promo-tier fee = $27,000/yr vs. $1,499–$4,999 flat.
Is there a free alternative to GreenSky?
Acorn Finance charges contractors nothing (lenders pay the platform). Tooling is lighter — no quotes/contracts/invoicing layer.
Can homeowners still get 0% offers without GreenSky?
Promotional 0% APR structures generally exist because a dealer fee buys the rate down. Marketplace models instead show standard-APR offers from competing lenders — transparent, but a different sales motion.
Stop pricing in the dealer fee.
Flat annual subscription, 18+ lenders, and the sales stack built around it — no matter who owns GreenSky next.
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