[anonuser123456]

If you are a homeowner, you can tap a home equity line of credit for maintenance projects. Homeowners that can't get a HELOC because of credit issues are going to be a credit risk for the contractor.

[RobKanda]

Whilst you could take out a HELOC to complete a home maintenance project, the minimum you can often take out is $5000. If your project was only $1000, you may end up paying more in interest for the HELOC rather than a personal loan for the amount you want to borrow with Kanda. Not only that, but our tradespeople can offer 0% finance to their customers, reducing the repayments even more. Sure, if they were unlikely to get an HELOC they are unlikely to get approved with us, but then the tradesperson knows the customer is unlikely to be able to pay for work completed and is protected

[monkeybutton]

Everyone I know that has done major renovations has taken this approach for financing. What would be the advantage of going with Kanda rather than their own bank?

[pdanny95]

We offer 0% financing, way more attractive than raising debt against your home

[the_optimist]

This seems directly disingenuous -- the up front fee is going to have to come out of the price, and is way, way more expensive than secured financing.

[pdanny95]

The customer literally pays no fees. The tradesperson takes the hit and puts it down as a marketing fee.

So, it's not more expensive.