Acorn Finance Loan Application FAQ

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Acorn Finance is a lending marketplace that connects your customers with lenders in its network. Customers check prequalified offers in about 60 seconds, then choose one and finish with that lender.
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No. Acorn Finance charges contractors no dealer fees to offer financing.
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The lender your customer chooses. Lenders in Acorn's network decide who's approved, fund the loan, and collect payments. Your role is to introduce financing and send the application link.
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Online in all 50 states.
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Yes. Offer it to every customer, early in the conversation, and make clear it's optional. Lenders decide who qualifies, so don't screen customers yourself or predict who will be approved.
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Each lender sets its own criteria, but most consider:

Some lenders don't require a credit check and decide on income or employment instead.
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No. Checking offers uses a soft credit inquiry, which doesn't affect their score. A hard inquiry happens only if they choose an offer and continue with that lender.
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No. Checking offers is free, and no lender in Acorn Finance's network charges a prepayment penalty. Loans over $40,000 carry no processing fees; under $40,000, some lenders charge a 1–6% origination fee, and no-fee options are highlighted.
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Lenders in Acorn Finance's network offer $1,000 to $100,000. Personal loan terms typically run 2 to 20 years, with the longest terms reserved for applicants with excellent credit.
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Any home improvement expense, from repairs and HVAC to remodels, roofing, solar, and pools.
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Yes. Lenders consider income and employment, and self-employment income counts. The lender may ask for tax returns or bank statements to verify it.
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Use whichever fits how you sell:

Early in the sale, not at the end. Present it as an optional way to pay, and show big jobs as monthly payments so customers can see what fits their budget.
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Keep it short and accurate: financing is optional, the application is quick, checking offers won't affect their credit score, and they'll see real offers right away. Say "competitive rates" rather than quoting a rate, since lenders set rates for each borrower.
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About a few minutes. Prequalified offers appear right after they submit.
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Their name, contact details, address, date of birth, income and employment, the amount they want to borrow, and their Social Security number for the soft credit check. Share your estimate total so they request the right amount.
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Yes, right after they submit their own information. A co-borrower with stronger credit, such as a spouse, can improve their chances of getting offers.
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Acorn Finance support, not you. They can use the phone number at the top of their application or call 916-404-1982.
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Prequalified offers from lenders in Acorn's network, each showing the loan amount, APR, monthly payment, term, and any origination fee. They can sort by APR, payment, or term, and no-fee options are highlighted.
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The choice is theirs. You can explain what APR, payment, and term mean, but don't recommend a lender or predict who will approve them. Send detailed questions to Acorn Finance support.
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No. The lender makes the final decision after your customer completes its application and verifies their details. Don't treat a customer as approved until the lender confirms it.
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Tell them the lenders couldn't prequalify them, without guessing why. Refer them to Acorn Finance support for details and options, such as reapplying later or adding a co-borrower. In the meantime, you can offer other ways to pay, like cash, check, or a payment plan you manage.

Don't decline the job just because financing didn't come through; depending on your state, that can create legal exposure.
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They're redirected to that lender's site to finish the application. The lender handles verification, the final credit decision, and funding.
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Usually. Most lenders run a hard inquiry once your customer moves forward with an offer, which may affect their credit score.
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Common requests include a photo ID, proof of income such as pay stubs, W-2s, or tax returns, recent bank statements, and bank account details for the deposit. Self-employed customers may also need 1099s. Quick uploads help avoid funding delays.
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Qualified applicants are often approved quickly during business hours, while others need extra verification first. Avoid promising a start date until your customer is funded.
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As soon as one business day after approval. Timing varies by lender and by how quickly your customer completes verification.
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No. The lender deposits the funds into your customer's bank account, and your customer pays you.
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Your customer pays you directly, under the payment terms in your contract. Because they have the full amount once funded, you can be paid up front, before the project begins.
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Once your customer is funded and has paid you as agreed. Avoid committing to a start date before then.
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A personal line of credit fits staged payments: your customer draws funds as each payment comes due and pays interest only on what they've drawn.
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Their lender. Payments, statements, and account questions go to the lender named on the loan agreement, not to you or Acorn Finance.
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No. The loan is between your customer and their lender.
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Yes. No lender in Acorn Fiance's network charges a prepayment penalty.
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Sign in to your Contractor Portal to see each customer's progress.
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They can sign in at your.acornfinance.com, or you can resend the application link.
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Let them know without speculating about why, and point them to Acorn Finance support. Each lender decides independently, so they may be able to continue with another offer.
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Yes. Checking offers again is another soft inquiry, so it won't affect their credit score. Results are more likely to change when their circumstances do, and Acorn Finance support can advise on timing.
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Send customers to Acorn Finance support at 916-404-1982 or support@acornfinance.com. For questions about promoting financing, contact your Acorn Finance account manager.
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