Customer Financing:
Enhancify or GreenSky Finance?
Dealer Fees or No Dealer Fees?

Choosing a beneficial financing option may be challenging. To help you make the right choice, below we compare the key features of two popular financing programs for contractors, Enhancify and GreenSky Finance.

Enhancify VS GreenSky Finance:
Which Contractor Financing Program is the Best?

 

Enhancify

GreenSky Finance*

Transaction Fees
(also called "Dealer" or "Merchant" Fees)
No Yes
Average Transaction Fee
(percentage paid by contractor for each job)
No fee 6.82% of Job Financed (average)
Impact on Business Profit Margin
(assuming 10% profit margin for the average roofing business)
10% Profit Margin stays 10%
Profit Margin protected.
10% Profit Margin becomes ~3.18%
Loss of 68.2% of profit margin
Commissions
(Get paid commissions on each job financed)
$50 - $375 For Each Job
Unlimited Commission
No
Homeowner Credit Pull Soft Pull Pre-Approval
(Protects customers' credit scores)
Hard Pull Credit Inquiry
(Lowers customers' credit scores)
Homeowner FICO Scores Served Support full spectrum of homeowner credit:
550 - 850 FICO
37% of approved loans over 780 FICO
85% of approved loans over 700 FICO
3% of approved loans below 660 FICO
Weighted Average FICO Score for Approved Loans: 758
Restrictions To Get Started New Businesses Welcome 2 Years of Business History
Financing Amount Limits up to $100,000 up to $65,000
0% Promotional Deferred Interest Rates
(Specific terms and conditions subject to credit approval.)
Yes Yes
Term Length 84 months 120 months
Marketing Materials
Training & Support
Electronic, Paperless Process
States Served 48 States
(not including WV and CT)
50 States
Company Profile Bootstrapped from the ground up by small business owners in response to traditional financing. Powered by community word of mouth. Started in 2018. Publically traded, multi-billion-dollar corporation with over 1,000 employees. Started in 2006.
Company Business Model
Simple annual membership fee
$999 / $1,499 / $4,999
77% of Total Company Revenue comes from charging contractors transaction fee on each job financed
Unlimited Financing Included in Membership Transaction Fee For Each Project
Industry Focus Home Improvement Home improvement, Elective Health Care, Retail, E-Commerce

Enhancify

GreenSky Finance*

Transaction Fees
(also called "Dealer" or "Merchant" Fees)
No
Yes
Average Transaction Fee
(percentage paid by contractor for each job)
No fee
6.82% of Job Financed (average)
Impact on Business Profit Margin
(assuming 10% profit margin for the average roofing business)
10% Profit Margin stays 10%
Profit Margin protected.
10% Profit Margin becomes ~3.18%
Loss of 68.2% of profit margin
Commissions
(Get paid commissions on each job financed)
$50 - $375 For Each Job
Unlimited Commission
No
Homeowner Credit Pull
Soft Pull Pre-Approval
(Protects customers' credit scores)
Hard Pull Credit Inquiry
(Lowers customers' credit scores)
Homeowner FICO Scores Served
Support full spectrum of homeowner credit:
550 - 850 FICO
37% of approved loans over 780 FICO
85% of approved loans over 700 FICO
3% of approved loans below 660 FICO
Weighted Average FICO Score for Approved Loans: 758
Restrictions To Get Started
New Businesses Welcome
2 Years of Business History
Financing Amount Limits
up to $100,000
up to $65,000
0% Promotional Deferred Interest Rates
(Specific terms and conditions subject to credit approval.)
Yes
Yes
Term Length
84 months
120 months
Marketing Materials
Training & Support
Electronic, Paperless Process
States Served
48 States
(not including WV and CT)
50 States
Company Profile
Bootstrapped from the ground up by small business owners in response to traditional financing. Powered by community word of mouth. Started in 2018.
Publically traded, multi-billion-dollar corporation with over 1,000 employees. Started in 2006.
Company Business Model

Simple annual membership fee
$999 / $1,499 / $4,999
77% of Total Company Revenue comes from charging contractors transaction fee on each job financed
Unlimited Financing
Included in Membership
Transaction Fee For Each Project
Industry Focus
Home Improvement
Home improvement, Elective Health Care, Retail, E-Commerce

Enhancify is here to help you increase your revenue. We outbid competitors and surpass all expectations by giving flexible options for contractors and homeowners.

  • No Dealer Fees Ever

    Now you can gain more, since you won't have to pay additional fees for offering financing to your customers. Net profit only.
  • Get $50 for Every Closed Job

    Have more closed jobs plus get paid for those. Have commissions starting at $50 paid every time a homeowner gets financing.
  • Beneficial Yearly Plan

    Pay once a year and forget about any charges for the next 12 months. Focus on your work, we will do the rest.
  • Low APR Financing Options

    Let your customers avoid huge interest with same-as-cash and low APR offers. Homeowners get financing on favorable terms, you get money for your work quickly.
  • Customized Branded Page

    Build your own co-branded landing page with your logo. Receive exclusive links and banners for online promotion.
  • Real-Time Notifications

    Stay informed throughout the whole application and approval process. Receive emails with detailed information on each step.
  • Soft Pulls

    Soft Pulls Applying for loans won't affect your customers' credit scores. Let them enjoy a vaiety of top deals with no hard pull.
  • Earn $200 for Referred Friends

    Invite friends through your unique referral link and earn $200 for every contractor that uses Enhancify for more than 30 days - with no caps.
  • Monthly Payment Calculator

    Give your customers access to our Payment Calculator to estimate monthly payments for their projects. Quickly and easily.

Have questions or need help? Contact us at 813-499-9879.

*GreenSky is a registered trademark of GreenSky, LLC. Enhancify.com is not affiliated with GreenSky Finance in any way. Information is used for comparative purposes only. Chart comparison is based on publicly available competitor info compiled in May 2020. All reasonable efforts are made to keep information up-to-date. Information is presented without warranty.