Indiana Contractor Financing Guide
Everything you need to know about offering customer financing in Indiana: local licensing, platforms, bonding, insurance, and compliance requirements.
Last Updated: January 2025
Quick Summary for Indiana Contractors
- ✓ No statewide contractor license (regulated at local level)
- ✓ Only plumbing is licensed at state level
- ✓ Indianapolis/Marion County: License, $10K bond, $500K liability required
- ✓ Lake County: $300 license, $500K liability or $1M umbrella required
- ✓ All major financing platforms available (GreenSky, Synchrony, PowerPay, etc.)
- ✓ Requirements vary significantly by city/county - always check local authority
On This Page
Licensing Structure in Indiana
Indiana does not require statewide licensing for general contractors, HVAC, electrical, or roofing. The only trade licensed at the state level is plumbing. All other contractor licensing is handled at the city or county level, meaning requirements vary significantly across the state.
Critical to Know
You must contact your specific city or county building department to understand exact requirements for your area. There is no centralized state licensing system to verify contractor credentials in Indiana.
Licensing by Trade
General Contractors
- No state-level license
- Regulated by individual municipalities
- Major cities (Indianapolis, Fort Wayne, Evansville) have specific requirements
HVAC Contractors
- No state-level license
- Local municipalities regulate
- Fort Wayne/Allen County: 4+ years experience + Prometric exam required
Roofing Contractors
- No state-level license
- Some counties (like Marion) may require local licensing
Plumbing Contractors
- ONLY state-regulated trade in Indiana
- Contact Indiana Professional Licensing Agency for requirements
Financing Platforms Available in Indiana
All major contractor financing platforms operate in Indiana. Here's what's available:
GreenSky
Available in INActive in Central Indiana and Indianapolis area. Partners include Indiana Foundation Service and local contractors.
Typical Requirements
- ✓ 2+ years in business
- ✓ Professional website
- ✓ Valid business license (where locally required)
- ✓ Proof of insurance
- ✓ Clean business credit history
Loan Features
- Loan amounts up to $100,000
- Deferred interest promotional periods
- Works through Synovus Bank partnership
Synchrony Home
Available in INOffers the Synchrony Project Card for flexible financing.
Typical Requirements
- ✓ Established contractor business
- ✓ Professional online presence
- ✓ Required licensing and insurance
- ✓ Good business standing
Loan Features
- Promotional financing and loyalty programs
- Credit card and installment lending options
- Fast credit decisions
PowerPay
Available in INPopular choice with NO provider fees to contractors. Accepts lower FICO scores (600+).
Typical Requirements
- ✓ 1+ years in business
- ✓ Website with business information
- ✓ Valid contractor credentials (where applicable)
- ✓ Insurance verification
Loan Features
- Loans up to $100,000
- Rates starting at 2.99%
- Soft pull instant approvals
- No prepayment penalties
- No provider fees (core differentiator)
Other Platforms Available in Indiana:
Major City/County Requirements
Since Indiana regulates contractors locally, here are the requirements for the state's largest municipalities:
Indianapolis / Marion County
The Department of Business and Neighborhood Services issues licenses. Note: Does NOT include Beech Grove, Lawrence, Speedway, or Southport.
General Contractor Requirements:
- ✓ General liability insurance: $500,000 per occurrence (death/bodily injury)
- ✓ Property damage coverage: $100,000 per occurrence minimum
- ✓ Surety bond: $10,000 minimum
- ✓ Workers' compensation insurance (if applicable)
- ✓ May require demonstration of experience
- ✓ May require competency exam
Fees:
- Two-year license fee: $247 (varies by time of year: $247, $185, or $124)
- Applies to both new applications and renewals
Bond Note: The $10K surety bond covers both the City and unknown obligees if you violate city codes, statutes, laws, ordinances, or cause damages. This is NOT insurance - if the surety company pays a claim, they will seek reimbursement from you.
Lake County
Licenses required for general contractors, electrical, plumbing, and HVAC contractors.
Requirements:
- ✓ Online application with $300 licensing fee
- ✓ Property and liability insurance: $500,000 minimum
- ✓ OR umbrella policy: $1,000,000
Fort Wayne / Allen County
HVAC Specific:
- ✓ Minimum 4 years work experience required
- ✓ Must pass exam offered by Prometric
Working in Other Indiana Cities?
Always contact the local building department or city clerk where you'll be working. Indiana has no centralized system, so every municipality sets its own requirements.
Insurance & Bonding Requirements
While Indiana doesn't have statewide requirements, here's what most municipalities and financing platforms expect:
Typical Municipal Requirements
General Liability Insurance:
- Indianapolis/Marion County: $500K per occurrence + $100K property damage
- Lake County: $500K liability OR $1M umbrella
- Most other cities: $300K - $500K typical minimum
Surety Bonds:
- Indianapolis/Marion County: $10,000 minimum
- Other cities: Varies or not required
Workers' Compensation:
- Required if you have employees
- Must comply with Indiana state law
What Financing Platforms Typically Require
Most financing platforms want to see contractors carry adequate insurance to protect customers:
- ✓ General liability: $500,000 - $1,000,000
- ✓ Workers' compensation (if you have employees)
- ✓ Valid business license (where locally required)
- ✓ Proof of bonding (if required by your municipality)
Compliance Checklist for Offering Financing
Before You Apply to Financing Platforms:
- ✓ Check if your city/county requires contractor licensing
- ✓ Obtain local business license/permit if required
- ✓ Secure general liability insurance ($500K minimum recommended)
- ✓ Obtain surety bond if required by your municipality
- ✓ Set up Workers' Compensation (if you have employees)
- ✓ Create professional business website with:
- → Business address and contact information
- → Services offered
- → License number display (if applicable)
- → Insurance information
- → Professional business email (not Gmail)
- ✓ Register business structure (LLC, Corporation, etc.)
- ✓ Establish business bank account
- ✓ Build good business credit history (2+ years preferred)
How to Apply for Financing Programs
Once you've met local requirements and compliance standards, here's the typical application process:
Identify Your Best Platforms
Use our Platform Matcher tool to see which financing programs you're most likely to qualify for based on your business age, revenue, and credit.
Verify Local Compliance
Contact your city/county building department to ensure you have all required:
- → Business licenses
- → Insurance coverage
- → Bonds (if applicable)
Prepare Your Documentation
Have these ready before starting applications:
- → Business license/registration (if applicable)
- → Insurance certificates
- → EIN/Tax ID
- → Business bank account info
- → Website URL
- → 2+ years of revenue (if available)
Submit Applications
Apply to 2-3 platforms at once to compare terms. Check our Application Guide for step-by-step walkthroughs of each platform.
Get Approved & Set Up
Most platforms provide approval within 1-3 business days. Once approved, you'll receive training materials and point-of-sale tools to start offering financing.
What You Can (and Cannot) Say About Financing
Once approved for financing programs, you become a merchant/dealer for those lenders. This means you have legal responsibilities under the Truth in Lending Act (TILA) and Regulation Z. Understanding these rules protects both you and your customers.
CRITICAL: Deferred Interest Is NOT "Same as Cash"
Never call a deferred interest promotion "same as cash." This is one of the most common compliance violations.
Why? With deferred interest, interest accrues from day one. If the customer doesn't pay off the full balance before the promotional period ends, they owe ALL the interest that accumulated.
What You CANNOT Say
"Same as cash"
Deferred interest programs accrue interest from day one.
"No interest" (without the qualifier)
Must say "No interest if paid in full within [X] months"
"Everyone gets approved"
False representation. Approval is based on creditworthiness.
What You CAN (and Should) Say
"We offer flexible payment options through [Lender Name]"
Honest, straightforward, compliant.
"If paid in full within 12 months, no interest will be charged"
Accurate description with proper qualifier.
"Subject to credit approval"
Always include this disclaimer.
Best Practices for Compliance
- ✓ Always provide customers with written disclosures at point of sale
- ✓ Never rush customers through the financing paperwork
- ✓ Keep copies of all signed financing documents for your records
- ✓ Use only the marketing materials provided by your financing partner
- ✓ Update your team training annually on compliance requirements
Need a Financing-Ready Website?
We build websites that meet every financing platform's requirements and walk you through the entire application process.