Financing · Embedded Point-of-Sale Financing
GreenSky Review
Large-scale home-improvement point-of-sale financing (up to $100K)
Consumer-cost / reputation warning
GreenSky's deferred-interest promotions can charge customers retroactive interest if the balance isn't paid off within the promo window, and contractor dealer fees run high (3–15%, with 0% promos at 8–15%). Sell the real terms, not just the headline '0%,' and price the dealer fee into the job.
Quick verdict
GreenSky is best for Remodeling, roofing, HVAC, and solar contractors financing large projects (up to $100,000) who need high loan capacity and can price in higher dealer fees. High dealer fees (3–15%, up to 8–15% on 0% promos); deferred-interest plans can hit customers with retroactive interest; more complex enrollment; terms can shift with ownership changes.
Fees & terms
Bank-funded home-improvement loans up to $100,000. Contractor pays a dealer fee of 3–15% (deducted from the loan): roughly 3–6% on standard loans, 8–15% on 0% promotional plans. Customers get fixed-rate, deferred-interest, or 0% options.
- Cost to contractor
- Dealer fee 3–15%, deducted from the loan amount (3–6% standard; 8–15% on 0% promos)
- Customer APR
- Fixed-rate, deferred-interest, and 0% promotional plans (varies by program)
- Loan size
- Up to $100,000
Affiliate disclosure: No confirmed affiliate program — we currently earn nothing from GreenSky.
About GreenSky
GreenSky is one of the largest home-improvement point-of-sale financing programs in the US, funding loans up to $100,000 through partner banks. Founded in 2006 in Atlanta (owned by Goldman Sachs, then sold to a Sixth Street-led group in 2024), it's the established incumbent that big remodeling, roofing, HVAC, and solar contractors have used for years to offer financing on large projects — well beyond the service-ticket range of a tool like Wisetack.
GreenSky doesn't lend directly; the contractor presents GreenSky plans with a quote, the customer applies, and once approved the loan pays the contractor while the customer repays the bank. It offers a wide range of plans — fixed-rate loans, deferred-interest loans, and 0% promotional financing — which is why it fits large, varied home-improvement work.
The honest concerns are cost and consumer-friendliness. Contractors pay dealer fees of roughly 3–15% (deducted from the loan), with 0% promotional plans carrying the highest fees (8–15%) — a major margin consideration. And the deferred-interest products can hit a customer with retroactive interest if they don't pay the balance off within the promo window, which has drawn consumer criticism. GreenSky is a powerful tool for financing big projects at scale, but contractors should weigh the high dealer fees, and be transparent with customers about deferred-interest terms rather than just selling the headline '0%.'
How it works
GreenSky is bank-funded, not a direct lender. You enroll as a merchant/dealer, then present GreenSky financing plans alongside your quote on a big project. The customer applies (name, address, SSN, income), and once approved you show their plan options — fixed-rate, deferred-interest, or 0% promotional. When the customer approves the transaction, the loan pays you (minus the dealer fee, which is deducted from the loan amount), and the customer repays GreenSky's partner bank over time. Dealer fees run 3–6% on standard loans and 8–15% on 0% promotions, so the plan type you offer directly affects your cost.
Pros & cons
What works
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High loan amounts (up to $100K)
GreenSky funds large home-improvement projects up to $100,000, far beyond service-ticket tools. For big remodels, roofing, or solar, it can finance the whole job in one loan.
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Established, large-scale program
Operating since 2006 with bank backing, GreenSky is a mature, widely-used program with broad lender capacity — contractors doing high volume of large projects rely on its scale.
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Wide range of plan types
Fixed-rate, deferred-interest, and 0% promotional plans give flexibility to match the offer to the customer and project, which helps close varied large jobs.
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Contractor paid by the loan
Once the customer approves, the loan funds the contractor — you're not waiting on the customer's installment payments, so cash flow on big projects stays healthy.
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Recognized by customers
As a large, established brand, GreenSky is a name many homeowners recognize, which can add a degree of trust to the financing offer on a big-ticket project.
What doesn't
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High dealer fees
Contractors pay 3–15% dealer fees deducted from the loan, with 0% promotional plans at the high end (8–15%). On a large project, that's a substantial cost that must be priced in — far more than Wisetack's flat 3.9% on smaller tickets.
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Deferred-interest risk to customers
Deferred-interest plans can retroactively charge the customer all the accrued interest if they don't pay off the balance within the promo window. That's drawn consumer criticism, and contractors should disclose it clearly rather than just selling '0%.'
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More complex enrollment
GreenSky is a dealer/merchant program with more onboarding than a self-serve marketplace, and the plan/fee structure takes effort to understand and present correctly.
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Ownership changes
GreenSky has changed hands (Goldman Sachs, then a Sixth Street-led group in 2024), and program terms and dealer fees can shift — confirm current terms rather than relying on older information.
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Best for large projects only
The dealer-fee economics and $100K capacity suit big-ticket remodels, roofing, and solar; for routine service tickets, a lower-cost tool like Wisetack or a free marketplace usually fits better.
Features & integrations
Key features
Integrations
Frequently asked
How much does GreenSky cost contractors?
Contractors pay a dealer fee of roughly 3–15%, deducted from the loan amount — about 3–6% on standard loans and 8–15% on 0% promotional plans. So the more attractive the customer offer (like 0% for a long term), the higher your cost. Price the dealer fee into the job.
What is the deferred-interest risk with GreenSky?
Some GreenSky plans use deferred interest: if the customer doesn't pay off the balance within the promotional window, they can be charged all the interest that accrued from day one, retroactively. It's drawn consumer criticism, so contractors should clearly explain these terms rather than just advertising '0%.'
How much can a customer borrow with GreenSky?
Up to $100,000, which is why GreenSky suits large home-improvement projects — full remodels, roofing, solar — that exceed the limits of service-ticket financing like Wisetack (typically up to ~$25,000).
GreenSky vs Wisetack?
GreenSky finances large projects (up to $100K) with dealer fees of 3–15% and a range of plan types including deferred interest; Wisetack is simpler embedded financing for service tickets (up to ~$25K) with a flat 3.9% merchant fee. Big-project contractors lean GreenSky for capacity; service-ticket shops usually prefer Wisetack's simplicity and lower, transparent cost.
Does GreenSky lend the money directly?
No — GreenSky is a financing program funded by partner banks, not a direct lender. The contractor presents GreenSky plans, the customer applies and is approved by the bank, the loan pays the contractor (minus the dealer fee), and the customer repays the bank over time.