Acorn Finance Partners with Spring EQ for Home Improvement Loans

SACRAMENTO, Calif., Nov. 5, 2021 /PRNewswire/ --  Acorn Finance, the world's first embedded lending marketplace for home improvement financing, has partnered with Spring EQ, a specialty lending company focused on home equity solutions, to provide pre-qualified, point-of-sale financing offers from Spring EQ in the Acorn Finance marketplace.

This partnership expands the Acorn Finance network of 10 lenders that bid to provide financing for a homeowner's projects, resulting in expanded choice and lower rates for consumers, and increased revenue for contractors and other home improvement professionals.

"We are excited to add Spring EQ to our growing home improvement financing marketplace," said Giri Addanki, founder and CEO of Acorn Finance. "Home equity products align perfectly with the needs of our borrowers who are investing in their homes. This partnership is also an opportunity to expand our ability to help those borrowers who are looking to finance larger ticket projects by delivering the best point-of-sale lending solution for home repairs or renovations."

Unlike banks and other lenders, Spring EQ's platform provides simple and convenient access to a homeowner's home value, and when the need arises, provides a smart, timely and cost-effective means to unlock that value and their goals. Home equity loans of up to $500,000 can be funded in as little as 11 days, once a customer's documentation is complete.

"We appreciate Acorn's customer-centric model," said Jerry Schiano, CEO of Spring EQ. "Acorn's marketplace provides contractors multiple options to offer their customers, without the fees of other baked-into-the-sale financing. This in turn provides Spring EQ the ability to help homeowners use their home equity to unlock new projects."

About Acorn Finance
Acorn Finance is the world's first embedded lending marketplace for home improvement financing, empowering borrowers, lenders, contractors and software providers to achieve their goals. Borrowers can shop for the best rates from the best lenders, all within a few seconds and fewer clicks. Contractors can increase sales by offering financing to customers at no extra cost to themselves. Software providers to the home improvement industry can add value for contractors and enhance the homeowner's buying experience by embedding Acorn Finance's solution within their estimates and invoices. Lenders can reach more homeowners while also testing the ideal rates for optimum engagement. For more information, visit acornfinance.com.

About Spring EQ
Spring EQ is working to fundamentally change and ease the way borrowers access the equity in their homes. Built by technologists, supported by veterans of the lending industry, Spring EQ was founded to transform home equity lending from a long, drawn-out paperwork-based process into a 21st century digital experience that customers can access from anywhere, anytime. The company is headquartered in Philadelphia. For more information, visit mortgage.springeq.com

SOURCE Acorn Finance