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Acorn Finance

Home Improvement Financing for Your Residential Customers

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Accessing external capital opens up a range of possibilities for growth to take your business to the next level.

Grow Your Average Estimate Value

When a residential consumer has access to financing, they are more likely to increase the contract size.

Increase Your Total Revenue

Homeowners who finance their landscaping projects generate more revenue to your business.

Free to LMN Pro Contractors

Seriously – Financing customers with Acorn is 100% free to LMN Pro Contractors – a big leap from the 3.9% “the other guys” charge

How a Homeowner Benefits

Zero Impact on Credit Score

Checking prequalified offers will not impact their credit scores.

No Prepayment Penalty

Customers won’t incur penalties for paying up sooner.

Competitive Rates

As low as 4.99%1 depending on credit score.

Get Your Customers Direct Access to Competing Lenders

With Home Improvement Financing, powered by Acorn Finance, homeowners can easily choose from a marketplace of lenders competing to give them the best terms and rates to match their unique needs.

Provide your US-based* customers easy access to home improvement financing and help make their dream project a reality.

*Excluding NV, MD, WV, VT, MA, RI. See Full List In FAQ

Four Steps to Getting Your Customers LMN Home Improvement Financing

1

Show your customer their financing options for their landscaping project

2

Get your customer pre-qualified online (desktop and mobile)

3

Your Customer selects the best offer for them from a range of lenders and completes their application.

4

Your Customer selects the best offer for them from a range of lenders and completes their application.

Frequently Asked Questions

What is LMN Home Improvement Financing?

LMN has partnered with Acorn Finance, a marketplace of top lenders, to offer your clients access to personal loans for their home improvement projects. Make your client’s dream projects more affordable. Help clients pay for unexpected major repairs. Ensure clients have the cash flow to cover any change to orders or project scope increases. The project cost as an estimated monthly payment is presented professionally on estimates and invoices. By making financing available and incorporating it into your sales process you will help increase your job winning rate and average project size.

What do I need to do to get started?

Nothing! All you need to do is issue estimates and the LMN Home Improvement Financing option will be professionally presented right on the documents with the project amount.

What loan sizes are offered?

Personal Loans are available from $1,000 to $100,000.

Who is offering the financing?

LMN has partnered with Acorn Finance, a marketplace of top lenders, to provide quick and easy home improvement loan options. The lenders provide the financing directly to the customers once they select and apply for one of the loan options.

Will offering LMN Home Improvement Financing impact my credit score?

Absolutely not. The client will deal directly with the lending company, and their financing offers will be presented based on their own credit score and financial standing.

How to get in touch with lenders

If your client has a question about the application process, they can reach out to the Acorn Finance support team directly from their loan application by starting a chat or calling the phone number provided. An email address is also provided within the application experience. If your customer has applied for and received their funding, they can reach out to their lending partner directly by using the contact information provided during the application approval process.

What is the loan interest rate and term length?

Loans options are available with APRs as low as 4.49% APR and terms as long as 12 years through a marketplace of top lenders. The loan amount and interest rates vary based on a number of factors. 3

How long does it take for the loan to be issued?

Loan pre-qualification and final approval from most funding partners can be made within a few minutes, however this depends on how quickly the client proceeds through the entire application process. Once a client is approved for a loan, they should expect to receive the funding within 1-3 business days on average, however, some may take as long as 5 business days. Home equity loans can typically take several weeks based on the process for these loans.2

Are we the contractor liable for the client’s financing decision or actions?

No. The financing agreement is between the client and the lender. You are not liable or responsible in the case that the client cannot repay the loan that they have funded from this process. There will be no impact to your personal credit score.

What happens if a client defaults on their loan

If a client defaults on their loan, this would not affect you. Assuming you have already been paid for your work, the money you have been paid will remain yours.

Will we be able to see if the customer was approved or declined when they apply for financing?

Lending decisions are made completely between the client and the lender. To ensure we protect the privacy and security of your clients, information about client loan approvals are kept confidential.

What will my client see when they click the financing button on the estimate?

With our integrated financing experience, powered by Acorn Finance, your client will be connected to Acorn’s website, where they can check their offers, rates and terms within minutes. If prequalified by one or more lenders, they will have the opportunity to select and formally apply for their offer online, directly with their chosen lender.

What countries have access to the LMN Home Improvement Financing option?

LMN Home Improvement Financing, powered by Acorn Finance provides financing for customers in the USA. The map below shows current coverage. We anticipate 100% coverage in all states and entry into Canada by the end of 2022. To check current coverage, please visit: https://fs.acornfinance.com/banners/acorn-states-coverage-map.png

What does an example loan look like?

If you request $10,000, you could get a total loan of $10,000 with an 8.94% interest rate and $0 fees (note, if the lending partner charges an origination fee, it will increase the APR). You would receive $10,000 with 84 payments of $161. Actual rate and maximum loan amount are determined solely by the lender, which may differ from this example and depend on loan purpose, amount, term, length, and your credit profile. Loan closing contingent on final credit approval, verification of income, and other criteria established by the lender and your acceptance of all agreements and disclosures. Pre-approvals use a soft credit pull, which does not impact credit score; however, lenders will conduct a hard credit pull when you express interest in an offer and this could impact your credit score. This information is presented without warranty or guarantee of the availability of any loan.

Pre-qualifications use a soft credit pull, which does not impact your credit score; however, our funding partners will conduct a hard credit pull when you express interest in an offer, and this could impact your credit score. All loans and other financial products are subject to credit review and approval by our partners.

1 Rates as of 3/4/2022. Advertised rates and terms are subject to change without notice. APRs vary depending on your credit score.

2 If approved, funding times may vary.

A LMN Lend Specialist is here to help you.

Our expert team is here to make getting your landscaping business cash easy. Book a 1-on-1 with an LMN Lend Specialist and see how easy getting cash can for your business can be

Female Lend Specialist
Acorn Finance

Home Improvement Financing for Contractors

ACCREDITED, SAFE, AND SECURE

Acorn Finance makes it easy to offer monthly payment options to your customers. No fees for contractors. Customers can check their personalized offers in 60 seconds with no impact to their credit scores.

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