Everything you need to know about offering customer financing in Indiana: local licensing, platforms, bonding, insurance, and compliance requirements.
Last Updated: January 2025
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.
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.
All major contractor financing platforms operate in Indiana. Here's what's available:
Active in Central Indiana and Indianapolis area. Partners include Indiana Foundation Service and local contractors.
Offers the Synchrony Project Card for flexible financing.
Popular choice with NO provider fees to contractors. Accepts lower FICO scores (600+).
Since Indiana regulates contractors locally, here are the requirements for the state's largest municipalities:
The Department of Business and Neighborhood Services issues licenses. Note: Does NOT include Beech Grove, Lawrence, Speedway, or Southport.
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.
Licenses required for general contractors, electrical, plumbing, and HVAC contractors.
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.
While Indiana doesn't have statewide requirements, here's what most municipalities and financing platforms expect:
Most financing platforms want to see contractors carry adequate insurance to protect customers:
Once you've met local requirements and compliance standards, here's the typical application process:
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.
Contact your city/county building department to ensure you have all required:
Have these ready before starting applications:
Apply to 2-3 platforms at once to compare terms. Check our Application Guide for step-by-step walkthroughs of each platform.
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.
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.
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.
"If paid in full within 12 months" or "18-month promotional period"
"Interest is charged from the purchase date if the promotional balance is not paid in full within the promotional period."
Customers must make minimum monthly payments during the promotional period or they lose the promotional rate.
If they don't pay in full, what rate will they be charged? (Often 20-30% APR)
For loans secured by the customer's home, they have 3 business days to cancel the transaction after signing.
"Same as cash"
Deferred interest programs accrue interest from day one. Only use "same as cash" if it's a true 0% APR with no deferred interest.
"No interest" (without the qualifier)
Must say "No interest if paid in full within [X] months" - the conditional language is legally required in advertising.
"Everyone gets approved"
False representation. Approval is based on creditworthiness and lender criteria.
Making unauthorized representations about the lender
You can't claim the lender requires certain add-ons or services unless that's actually true and documented.
Hiding dealer fees or commissions
Some platforms charge dealer fees. You must be transparent about all costs.
Adding unauthorized items to the finance contract
Everything the customer finances must be explicitly authorized.
"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 of deferred interest promotion with proper qualifier.
"Subject to credit approval"
Always include this disclaimer.
"Monthly payments as low as $X/month"
Truthful representation if accurate based on actual terms available.
"Fast approval - often within minutes"
Accurate for most platforms' approval process.
If you have employees or subcontractors who will present financing options to customers, they must be trained on:
Most financing platforms provide training materials when you're approved. Use them.
We build websites that meet every financing platform's requirements and walk you through the entire application process.