Home Improvement Lending Surges During Pandemic

According to a new survey by LightStream 75 percent of respondents plan to pursue a home improvement project in 2020 with the average cost of $12,000; “Self-isolation has forced Americans to take a much closer look at their homes,” said Todd Nelson, LightStream’s SVP of Strategic Partnerships, to American Banker. “Many have clearly decided that renovation remains the right move, and they’re acting on it.”; Ally struck a partnership with Authority Brands, the parent of seven home improvement franchises, to build out their new unit in point of sale lending; “As we get clipping along here we’ll be adding hundreds of new providers a month,” Hans Zandhuis, Ally Lending’s President said to American Banker. “We’re going all-in hard.” American banker.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.