When the federal Greener Homes Loan program abruptly ended this summer, it left thousands of Canadian homeowners — and the contractors serving them — in limbo.
Toronto-based fintech Financeit, long known for its leadership in home improvement point-of-sale financing, quickly stepped up to fill the void.
In this Q+A, Financeit CEO and co-founder Casper Wong explains how the company’s new dealer support program is helping small businesses and homeowners adapt, why flexible financing is critical to Canada’s clean-energy transition, and how Financeit continues to evolve as one of the country’s standout fintech success stories.
What’s the story behind Financeit and its role in Canada’s home improvement space?
CW: Financeit was founded in 2011 to solve a simple problem everyone can face: how to make major purchases more affordable. Whether it’s replacing a broken furnace in an emergency or installing new windows, we make it easier for people to get what they need, when they need it. Our point-of-sale platform connects dealers (e.g., contractors, roofers, electricians) and homeowners at the moment of need, giving customers flexible and affordable financing options without surprises or hidden fees.
Today, Financeit is a Canadian fintech success story, facilitating over $6.8 billion in total loans for more than 400,000 customers through a network of 14,000 dealers. We’re proud to help Canadian businesses close sales faster, while giving homeowners more control, confidence, and choice when investing in their homes.
When the government’s Greener Homes Loan ended, how did that change the landscape for homeowners and dealers, and what were you hearing from them at the time?
CW: The end of the government program created a significant gap in the market. Dealers had built their sales strategies around it, and homeowners were relying on it to complete energy-efficient upgrades.
Both groups faced uncertainty. Dealers faced the risk of stalled projects and lost revenue, while homeowners lost access to affordable financing for essential renovations. We heard the frustration firsthand from our dealer partners, who suddenly had no comparable option to offer their customers. That’s why we moved quickly to fill the gap, ensuring homeowners could keep moving forward with their projects and dealers could continue operating and building their business.
You’ve since launched a new dealer support program to fill that gap. How does it work, and what makes it different from the government’s approach?
CW: In September, Financeit launched a Canada-wide Dealer Support Program to bridge the gap left by the Greener Homes Loan. It provides flexibility, broader eligibility, and faster approvals, with five key differences, including:
- Financing available for any home improvement project, not just energy-efficiency upgrades (including homeowners who started a Greener Homes Loan application)
- No energy audit requirement, enabling simpler approvals for more homeowners
- Loan amounts up to $100,000 (compared to the Greener Homes Loan’s $40,000 maximum)
- Terms up to five years with amortization up to 20 years to help lower monthly payments
- Customized payment plans for our dealers with interest rates from 0% to 13.99% to fit their customers’ needs.
How does the program support Canadian home improvement service providers and small businesses that relied on federal financing tools?
CW: Small and mid-sized dealers were hit the hardest by the government program’s closure, and our focus was to help them stabilize quickly. By offering new, flexible monthly payment options, we’ve allowed dealers to continue closing projects without disruption.
We’re also supporting them with training, marketing resources, and webinars to help navigate the transition. Financeit already has national funding infrastructure in place, allowing dealers to access liquidity without waiting for government cycles. Ultimately, our program is about keeping local businesses thriving and ensuring customers don’t delay needed repairs or renovations. We’re showing up for the industry in the same way our dealer partners show up for Canadian homeowners every day.
Home upgrades can be daunting. How does Financeit make financing simple, transparent, and affordable for homeowners?
CW: Our promise is clarity and control. We believe financing should be transparent and built around real life, not the other way around. Financeit meets people where they are, with tools that deliver confidence, control, and trust on all sides of the transaction.
We’ve designed the experience so financing feels like part of the purchase process, not a separate obstacle. Homeowners choose their own dealer, sign an agreement with that dealer for their project, and then apply for financing through Financeit. Our loan process is entirely digital, mobile-friendly, and fast. We use plain-language agreements, so customers understand every term, with no prepayment penalties or hidden costs.
Our platform has built in customer protection with rigorous dealer vetting, including credit checks, background reviews, and continuous monitoring. We also have dealer payment controls, meaning we require customer approval before dealers are paid, protecting homeowners from unfinished or poor-quality work. By combining transparency, technology, and customer protection, we give Canadians the confidence to invest in their homes responsibly.
What role does your technology play in simplifying and speeding up financing for homeowners and dealers?
CW: Technology enables our model to work at scale. Our platform integrates directly with dealers’ quoting and sales systems, so customers can see monthly payment options instantly. Automated credit checks and e-signatures mean dealers can finalize a sale in minutes rather than days. Behind the scenes, our system handles disbursements and ongoing loan servicing, minimizing administrative work for dealers.
We are always continuously refining our technology to make it faster, safer, and easier to use. For homeowners, that means fewer barriers and more transparency and for dealers it’s a proven way to close more sales and strengthen customer relationships.
After more than a decade in point-of-sale financing, how is Financeit evolving as homeowner needs change?
CW: As homeowner needs change, we’re expanding our network of dealers beyond traditional energy-efficiency upgrades to include solar, EV charging, and other sustainable home technologies. We’re also deepening partnerships with dealers to deliver marketing and training tools that help them grow.
On the customer side, we’re enhancing our digital experience with more flexible financing solutions and clearer information to promote financial literacy. At its core, Financeit is about trust and showing up for Canadians when they need to fix, upgrade, or future-proof their homes. That mission will continue to guide everything we do.
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