From now on, start closing more jobs and maximize your profit with Enhancify financing. Give your customers access to low rates from 13+ reliable lenders plus get commissions starting at $50. Refer friends to earn even more. All with $0 dealer fees. Start today and dismiss all doubts.
Our main goal is to offer the most profitable financial solutions both for contractors and homeowners. Look at the benefits you will get once you start offering financing to your customers in partnership with Enhancify compared to Synchrony.
Enhancify |
Synchrony* |
|
|---|---|---|
| Merchant Fees (also called "Dealer" or "Transaction" Fees) |
No |
Yes. 4-15% fee per job |
| Average Transaction Fee (percentage paid by contractor for each job) |
No fee | ~6.50% |
| Impact on Business Profit Margin (assuming 20% profit margin for the average roofing business and average transaction fee) |
20% Profit Margin stays 20%
Profit Margin protected. |
20% Profit Margin becomes 13.5%
Lose around 32.5% of profit margin on average. |
| Commissions (Get paid commissions on each job financed) |
Yes - Commissions Paid on Each Job | No |
| Ease of Use |
60 second application.
Fully digital, fast, and simple for you and homeowner. |
Multiple forms, documents, and "sale slip" to fill out and store. Must learn and use Synchony's multi-step platform.
"Private label" credit card must be issued in 1-5 business days, which must then be processed (additional credit card processing fees) |
| 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 Serves all Homeowners |
45% of Approved Loans have a 720+ FICO Score 81% of Approved Loans havea 660+ FICO Score Only Serve Top Credit Homeowners |
| Business History Restriction | New Businesses Welcome | N/A |
| Financing Amount Limits | up to $100,000 | N/A |
| 0% Promotional Deferred Interest Rates (Specific terms and conditions subject to credit approval.) |
Yes | Yes |
| Term Length | up to 84 months | up to 132 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 16,500 employees. Started in 1932. |
| Company Business Model |
Simple annual membership fee ($999 / $1,499 / $4,999). Enhancify does not earn revenue through interest on loans. |
Largest private label credit card provider in the US. Contractors pay fees to bring homeowner customers to Synchrony. |
| Hidden Fees | No hidden fees | "Activation Fee" of $29 charged to your customer |
| Unlimited Financing | Included in Membership | Transaction Fee For Each Project |
| Industry Focus | Home Improvement | "Apparel, Electronics and Appliances, Home Furnishings, Automotive, Power Products and Sports, Jewelry and Luxury, other Retail, Elective Healthcare Procedures and Services, and more." |
Enhancify is here to help you increase your revenue. We outbid competitors and surpass all expectations by giving flexible options for contractors and homeowners.
Have questions or need help? Contact us at 813-499-9879.
*Synchrony is a trademark of Synchrony Bank. Enhancify.com is not affiliated with Synchrony 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.
