Hearth

What it does

Hearth is a financial technology platform for home improvement and home service contractors - enabling contractors to offer consumer financing to homeowners, collect payments via text, and manage their financial operations. AI capabilities include AI-powered financing pre-qualification that instantly assesses homeowner creditworthiness for financing offers, intelligent payment timing that optimizes when to send payment requests for maximum collection rates, automated financing offer personalization that matches loan products to homeowner profiles, smart follow-up for unpaid invoices, and business analytics that surface payment collection trends and financing conversion rates.

Strengths

• Mid-market home improvement companies use Hearth for systematic financing programs - automated financing offers increasing average job size and text payment collection improving cash flow.
• Small home service companies use Hearth for financing and payment collection - AI pre-qualification enabling instant financing decisions at the point of sale.
• Solo contractors use Hearth for consumer financing - offering homeowners payment plans closing larger jobs that would otherwise be declined on cost.

Watch-outs

• GreenSky and Service Finance compete for contractor financing market: GreenSky and Service Finance offer competing contractor financing programs — contractors should compare financing rates, approval rates, and contractor fee structures.
• Financing requires homeowner credit approval — not guaranteed: Hearth's financing is credit-based — homeowners with poor credit may not qualify, limiting financing close rates in markets with lower credit profiles.

Pricing

Free to use for contractors. Hearth earns fees from lenders on financed jobs. Optional paid features available.