Porch, the leading online platform for connecting homeowners with home improvement and repair services providers, has teamed up with FinMkt, a best-in-class SaaS provider of point-of-sale consumer finance technology, to launch Porch Financing Solutions. Licensing FinMkt’s one-of-a-kind, multi-lender, full-credit-spectrum point-of-sale platform, Porch’s contractor network now has access to financing options from multiple lenders including PenFed Credit Union, Genesis Credit, Secure Payment Systems, and more. This strategic partnership will meet the rising demand for alternative financing options for home improvement services and contactless payment methods.
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“FinMkt is incredibly excited to partner with Porch to help Americans gain access to financing choices for their important home repair or improvement projects while providing contractors with an easy-to-use single application,” says FinMkt’s CEO Luan Cox.
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Porch will offer this innovative financing platform to its network of over 200,000 contractors. Once onboarded, contractors can offer their clients a range of financing products from FinMkt’s growing list of leading lenders to ensure increased approval rates for people of all credit types. Through the platform, homeowners complete a short form safely from their own computer or mobile device and prequalify for offers without their credit being affected. A homeowner can apply, choose their loan and finalize the process in a matter of minutes through a quick and convenient mobile experience.
“After extensive fintech market research, we are incredibly happy that we chose FinMkt. Their revolutionary technology and deep relationships with home improvement lenders allow Porch to be the first home services platform to offer contractors a best-in-class user experience and access to competitive rates from trusted lenders such as PenFed Credit Union and others up and down the credit spectrum,” says Porch CEO and co-founder Matt Ehrlichman.
