Sacramento fintech company Acorn Finance has partnered with the Landscape Management Network to help homeowners more easily finance home improvement projects with landscape contractors.
The Acorn app allows contractors to make more money by getting nearly instant home equity loan financing for homeowners for home improvement projects from more than 12 lenders.
"As a contractor, you want to be able to provide the best experience possible for your customers,” said Mark Bradley, CEO of the Ontario, Canada-based Landscape Management Network, in a news release. “Knowing you can now easily walk them through financing options as a part of the estimate brings tremendous value to customers and positions landscape operation owners as true partners in the renovations."
The Landscape Management Network supplies landscape business management software to that industry, which works in yard renovation, pool installation and landscape architecture. The loans can be for up to $100,000.
The Acorn platform can show contractors and their customers a path to financing in seconds because it accesses pre-qualified offers from a network of lenders, ranging from other fintechs, banks, credit unions and finance companies. Using Acorn costs the client and contractor nothing. Lenders pay an origination fee on loans they close.
Acorn, which was launched in 2018 by CEO Giri Addanki, doesn’t do the lending; its lending partners provide the loans. Acorn gets paid a fee from the lenders who make loans through the platform
In January, Acorn raised $8.4 million in a funding round led by Boston-based MassMutual Ventures, a new investor.
