Service Finance Company, LLC

Service Finance Company is a point-of-sale consumer lender that provides financing for home improvement projects through a network of contractors and dealers. Rather than lending directly to consumers, Service Finance works in the background as the financing provider when contractors offer payment plans on home improvement work.

Service Finance is commonly used for projects such as HVAC replacement, roofing, windows, plumbing, electrical work, and other significant home improvements. The financing offer typically comes from the contractor as part of the project estimate rather than through a separate bank application.

Many Service Finance products include promotional financing periods during which interest is deferred. Deferred interest is not the same as zero percent APR and carries an important risk: if you do not pay off the entire balance before the promotional period ends, all the interest that accumulated during the promotion is charged back to your account from the original purchase date. This can result in a large unexpected charge. Read the full terms carefully before accepting any promotional financing offer.

Service Finance also offers standard installment loans for home improvement at straightforward fixed rates without promotional terms. These products are more predictable in cost.

Before accepting financing from a contractor who uses Service Finance, ask for the complete written terms including the interest rate, any promotional period end date, what happens if the balance is not paid off by that date, any fees, and the total cost of borrowing. If a promotional deferred interest product is offered, calculate whether you can realistically pay off the entire balance before the promotion expires.

Compare the financing offer against other options including a personal loan from your bank or a home equity line of credit if you have equity available.