Platform Guide
Synchrony Contractor Financing: Complete Guide + Alternatives
Synchrony is one of the largest consumer financing companies, offering contractor financing through manufacturer partnerships, retail programs, and direct enrollment. Here’s everything you need to know about their programs, fees, and how they compare to alternatives.
Synchrony Quick Facts
- Products: Credit card + installment loans
- Model: Manufacturer & retail partnerships
- Promos: 0% APR options offered
- Integrations: Payzer, ServiceTitan
Quick Answer
Synchrony contractor financing: large network, wide promotional lineup, established brand. Fees and setup timelines vary by program — compare current terms against other platforms before committing.
What is Synchrony Contractor Financing?
Synchrony Financial is a publicly-traded consumer finance company that offers home improvement financing through several programs. Unlike newer fintech platforms, Synchrony operates through established partnerships with manufacturers, retailers, and contractor networks.
For contractors, Synchrony offers two main financing products:
Synchrony Home Credit Card
A private-label credit card that customers can use at enrolled contractors and retailers. Offers promotional financing including 0% APR periods. Revolving credit line that customers can reuse.
Installment Loans
Fixed-term loans for specific projects. Better for larger jobs where customers want predictable monthly payments. Available through manufacturer programs and direct enrollment.
How Synchrony Works for Contractors
Contractors can access Synchrony financing through several channels:
- Manufacturer Programs: Many HVAC, window, and roofing manufacturers offer Synchrony-backed financing programs. Check whether the brands you sell offer co-branded programs with reduced dealer fees.
- Direct Enrollment: Apply directly through Synchrony Business to offer financing independent of manufacturer programs.
- Software Integrations: Synchrony integrates with Payzer, ServiceTitan, and other field service platforms for streamlined applications.
- Retail Partnerships: Some contractors access Synchrony through retail affiliations.
A Wide Promotional Lineup
Synchrony offers a large menu of promotional financing products, from standard rate loans to extended 0% APR periods. This variety gives contractors flexibility but can also make program selection complex. Integrations like Payzer bring these options into one workflow.
Want to compare your options?
See how Synchrony stacks up against other financing platforms for your business.
Get Started FreeSynchrony Pros and Cons for Contractors
Here’s how we’d summarize the strengths and trade-offs to weigh:
Why Contractors Choose Synchrony
- Strong manufacturer relationships
- Wide range of promotional financing options
- High brand recognition with customers
- Established, publicly traded company
- Integrates with Payzer and ServiceTitan
Potential Drawbacks
- Dealer fees on promotional products — verify current schedule
- Setup can take longer than some newer platforms
- Approval criteria may not fit every customer
- Large product menu can be complex to navigate
- In our view, less flexible than fintech alternatives
- May want a second-look partner for subprime customers
Manufacturer Programs Are Key
Synchrony’s best value often comes through manufacturer partnerships. If you sell major equipment brands, check whether they offer Synchrony programs with reduced or zero dealer fees — program terms vary by manufacturer.
Top Synchrony Alternatives
While Synchrony is a solid choice for many contractors, alternatives may better fit certain business models. Here are the top options:
1. Wisetack
Wisetack is popular with contractors who want fast, simple setup without the complexity of traditional financing platforms.
Advantages Over Synchrony
- Fast, simple setup
- Straightforward fee structure
- Simpler product selection
- Mobile-first experience
Where Synchrony Wins
- Higher loan limits
- More promotional options
- Manufacturer partnerships
Best for: Contractors doing smaller projects who want easy setup.
2. GreenSky
GreenSky is Synchrony’s closest competitor with similar products and fee structures.
Advantages Over Synchrony
- Broader contractor acceptance
- Similar promotional options
- Established track record
- Good for general contractors
Where Synchrony Wins
- Better manufacturer relationships
- Stronger retail partnerships
- More software integrations
Best for: Contractors who need GreenSky’s broader network or already have GreenSky relationships.
3. Hearth
Hearth operates as a multi-lender marketplace, connecting customers with multiple financing options through one application.
Advantages Over Synchrony
- Multi-lender model can broaden approvals
- Multiple lender options per customer
- Strong software integrations
- Modern contractor tools
Where Synchrony Wins
- More consistent terms
- Manufacturer partnerships
- No subscription required
Best for: Contractors prioritizing approval rates who want customers to see multiple options.
4. Enhancify
Enhancify advertises zero dealer fees, aiming at margin-conscious contractors.
Advantages Over Synchrony
- Advertises zero dealer fees
- Fast setup
- High advertised loan limits
- Simple, transparent pricing
Where Synchrony Wins
- More promotional options
- Better brand recognition
- Manufacturer relationships
Best for: Contractors who want to minimize dealer fees and maximize profit margins.
5. Fortiva (Second-Look Partner)
Fortiva isn’t a direct alternative but a complement to Synchrony for customers who don’t qualify.
Why Add Fortiva
- Designed to capture declined customers
- Subprime financing specialist
- Marketed as a second-look partner
Considerations
- Fees vary — verify with provider
- Subprime products typically carry higher customer APRs
- Additional integration needed
Best for: Contractors already using Synchrony who want to capture more approvals from subprime customers.
Synchrony vs Alternatives: Full Comparison
| Feature | Synchrony | GreenSky | Wisetack | Hearth | Enhancify |
|---|---|---|---|---|---|
| Loan Limits & Fees | Varies by program — verify with provider | Varies by program — verify with provider | Varies by program — verify with provider | Varies by program — verify with provider | Varies by program — verify with provider |
| Software Integration | Payzer, ServiceTitan | Varies — check provider | Many CRMs | Many CRMs | Varies — check provider |
| Best For | Manufacturer programs | General contractors | Small jobs, easy setup | Max approvals | Zero-fee priority |
Provider terms change frequently. Verify current loan limits, dealer fees, setup requirements, and promotional options directly with each provider.
The Multi-Platform Approach
Most successful contractors use 2-3 financing platforms. Synchrony excels for manufacturer-partnered products, but having Wisetack or Hearth as a backup captures customers who don’t qualify or prefer different terms. There’s no exclusivity requirement.
Not Sure Which Platform is Right for You?
Compare options and find the best fit for your business. No commitment required.
Compare Your OptionsWhen to Choose Synchrony (And When to Look Elsewhere)
Synchrony is a strong choice in specific situations. Here’s how to decide:
Choose Synchrony If…
Your equipment brands offer Synchrony financing programs with subsidized fees — check with your manufacturer. Partner programs can make Synchrony very cost-effective.
Choose Synchrony If…
You need extensive promotional options. Synchrony’s wide product menu offers flexibility for different customer scenarios and project types.
Look Elsewhere If…
You want to minimize dealer fees. Enhancify advertises 0% dealer fees — verify current terms with the provider.
Look Elsewhere If…
You need fast setup. Some platforms advertise same-day enrollment — ask each provider about current onboarding timelines.
Look Elsewhere If…
You serve customers with lower credit. Platforms with different approval criteria, or a multi-lender marketplace like Hearth, can capture more approvals.
Consider Adding…
A second-look partner such as Fortiva. When your primary platform declines a customer, a second-look provider may be able to offer subprime financing.
Getting Started with Synchrony
- Check manufacturer programs first. If you sell equipment from Synchrony partners, apply through their program for better terms.
- Gather documentation. You’ll need business tax ID, business license, banking information, and potentially financial statements.
- Apply through Synchrony Business or your manufacturer partner portal.
- Complete training. Synchrony provides resources on presenting financing options to customers.
- Consider adding a second-look partner like Fortiva to maximize approval rates.
Frequently Asked Questions
What are Synchrony’s dealer fees for contractors?
Synchrony dealer fees vary by promotional product. Standard rate products generally carry lower fees than 0% APR promotions, and manufacturer partnerships sometimes subsidize fees. Verify current fee schedules directly with Synchrony or your manufacturer partner.
How do I sign up for Synchrony contractor financing?
You can apply directly through Synchrony Business or through a manufacturer partner program. You’ll need business documentation including tax ID, business license, and banking information. Integrations like Payzer offer streamlined enrollment — ask Synchrony about current enrollment timelines.
What credit score do customers need for Synchrony financing?
Synchrony’s credit criteria vary by product and aren’t published as a single minimum score. Verify current requirements with Synchrony. Some contractors pair a primary platform with a second-look provider such as Fortiva to capture more approvals.
Does Synchrony integrate with contractor software?
Yes. Synchrony integrates with field service platforms such as Payzer and ServiceTitan, as well as several manufacturer platforms. This lets contractors offer financing directly within their existing workflow without switching systems.
What’s the difference between Synchrony Home and the Synchrony Project Card?
Synchrony Home is a private-label credit card that works at specific enrolled retailers and contractors. The Synchrony Project Card is a revolving credit line that can be used across multiple home improvement categories. Both offer promotional financing options like 0% APR periods.
How does Synchrony compare to GreenSky?
Synchrony and GreenSky offer similar types of products. Synchrony emphasizes manufacturer and retail partnerships, while GreenSky has broad direct contractor acceptance. Many contractors use both platforms to maximize approval rates.
Can I use Synchrony with second-look financing?
Yes. Some contractors pair Synchrony with a second-look provider such as Fortiva so declined customers can be offered alternative financing. Verify current integration options, fees, and terms directly with the providers.
What are the best Synchrony alternatives?
Top alternatives include Wisetack, GreenSky, Hearth (multi-lender marketplace), and Enhancify (advertises zero dealer fees). Most contractors use Synchrony alongside 1-2 alternatives to maximize flexibility.
Ready to Offer Financing to Your Customers?
Compare Synchrony and alternatives. Find the right fit for your business.
Get Started FreeRelated Contractor Financing Guides
Stop Guessing Your Margins
BuildFolio gives contractors instant roof measurements, AI-powered quotes, and profit tracking — $39/mo.
Try BuildFolio FreeFree Tools for Homeowners
Get instant property insights before you commit to any project.
Get Free Property Report