Acorn Finance provides a digital platform that connects contractors and homeowners with personalized home improvement financing options, allowing customers to receive pre-qualified loan offers without impacting their credit scores. By facilitating quick access to loans up to $100,000 with competitive terms, Acorn Finance addresses the challenge of affordability in home renovation projects, enabling contractors to close more sales while ensuring immediate payment for their services.
Funding
$12M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Homeowners and contractors often struggle to find affordable financing options for home improvement projects, which can delay or prevent necessary renovations and repairs. Traditional financing methods may involve lengthy application processes and impact credit scores even for preliminary inquiries.
Solution
Acorn Finance provides a digital platform that streamlines the process of connecting homeowners and contractors with personalized financing solutions for home improvement projects. The platform allows users to quickly compare rates from multiple lenders without affecting their credit scores, offering access to loans up to $100,000 with varying terms and APRs. By simplifying the financing process, Acorn Finance enables contractors to close more sales and receive prompt payment, while homeowners gain access to affordable financing options for renovations, repairs, and upgrades. The platform partners with a network of lenders, providing a range of options for borrowers with different credit profiles.
Target Audience
Acorn Finance targets homeowners seeking financing for home improvement projects and contractors looking to offer financing options to their customers.
Features
- Online platform providing access to multiple lenders and personalized loan offers
- Pre-qualification process that does not impact credit scores
- Loans available up to $100,000 with terms up to 12 years
- APRs starting as low as 6.99%
- Fast funding, with funds available in as little as one business day in some cases
- No dealer fees for contractors
- Integration with software platforms and e-commerce sites via embeddable lending options
- Partners with lenders such as PayPal, Capital One, Chase, American Express, SoFi, and others