Kaitlyn Schott

By: Kaitlyn Schott on December 3rd, 2021

Print/Save as PDF

Financing with Monkey Wrench Plumbing, Heating & Air

Monkey Business


HubSpot Video


Do you love unexpected plumbing expenses? Probably not. They’re inconvenient, aggravating, and demoralizing. Not to mention expensive. So what can you do? You can finance.

At Monkey Wrench Plumbing, Heating & Air, we know it’s critical to deal with a plumbing problem ASAP and not just slap a bandage on it, so we offer financing to all our customers.

By the end of this article, I will teach you about your financing options with Monkey Wrench Plumbing, Heating & Air so you can fix your problem quickly and feel less stressed about your plumbing fiasco. I’ll also outline the terms of use so you know exactly what’s needed from you to get started. 


What Financing Options Are There?

At Monkey Wrench Plumbing, Heating & Air, we offer financing through two companies, they are:

  • Greensky - Our most used financing company
  • Service Finance - Our second chance financing company

Let me break down what options these companies have to offer.



Financing Options from GreenSky

Greensky offers fast and easy financing for home improvement projects. These options have no prepayment penalties. The two financing options you can choose from are:

Option 1 (Plan 3128) - Has deferred interest and no payments for one year. If you pay the total amount of the loan before the end of the year, you don’t have to pay interest. 

If you can’t pay the total amount, the APR will increase to 16-29%, and you will also have to pay the deferred interest that accumulated during the first year.

This option is best for people who can make small payments throughout the year or people who will be coming into money within the year via:

  • Tax returns
  • Bonuses
  • Investments

Option 2 (Plan 1186) -  Has a consistent 7.99% APR over 84 months. You will start to pay this off within 30 days of applying.

This option is best for people who want a consistent low APR and more time to pay off their loan. Option 2 is more desirable than using most credit cards that have a 17% APR.


Service Finance

Financing Options from Service Finance

Service Finance is our second chance financing institute with the same options as Greensky, but they require you to give a lot more information to qualify. They may also counter with a different APR.

Example: You apply for Option 2 with a 7.99% APR. Service Finance will approve you, but they may counter with a 10% APR.

Service finance is best for people who may have filed for bankruptcy or who may have bad credit.


How Can I Apply for Financing?

There are a few ways to get approved for both of these companies, and that’s:

  • With a technician - This option is the fastest, usually taking 3-5 minutes because your information will be imported into the form. You can finish filling out the rest of your information yourself rather than relay it to our staff.
  • Over the phone - This option usually takes 5-7 minutes since we will have some of your information from when you scheduled an appointment.
  • Online - This is the least used method because you will have to enter everything manually.


What Do I Need to Apply for Greensky?

Greensky requires some of this information to apply for a loan:

  • Name
  • Social security
  • Annual income
  • Date of birth
  • Address
  • Phone number
  • Email

If approved for Greensky, you’ll get a virtual credit card that can be used on any of our services.


What Do I Need to Apply for Service Finance?


If you use Service Finance, the process will be longer because the application requires more information.

Service Finance requires:

  • All the above
  • Your ID information
  • Where you work

If you get approved with Service Finance, you’ll get set up with an ACH bank routing number.


What Happens When I Submit My Application?

After you submit your application, you will get instant approval or denial. If you’re approved, you can $1,000-$55,000 to use with any of our services (minus memberships) for up to 6 months. 

Note: You must finance a minimum of $1,000 for your home’s plumbing.

A great thing about financing with Greensky and Service Finance is if you apply for a certain amount, you may get approved for a higher amount.

Example: If you request financing for $3,000, you may get approved for $6,000. 

Finally, if you don’t get approved, you can always add a cosigner and immediately reapply. We’ve seen people who were initially denied get approved within 5 minutes of adding a cosigner.


Who Can Use Financing?

Everyone can use financing! 

Why use your cash upfront? You can use financing to replace pipes or water heaters rather than having to patch it up with the hopes nothing else will happen.

Do you have the money today? Cool! But would you rather fork up that money today or get your problem fixed without having to pay anything for almost a full year? You can then use that money to invest for 11 months or have an emergency fund during these crazy times.


Why Should I Finance with Monkey Wrench?

After reading this post, you may think, okay, this sounds too good to be true. What’s the catch? There is no catch for you. 

Greensky and Service Finance give out these loans because when you invest in your house, they feel comfortable you’re going to pay them back. However, for you to use these services, Monkey Wrench Plumbing, Heating & Air pays a fee to use these financing institutions. This fee can be 7-12% of the total amount. 

Other companies would pass this fee onto you, but we cover that fee so you can have a 5-star plumbing experience that will fix your problem today.

Find out other ways we can help you identify or fix your plumbing problems with these articles:

And if you want to get some plumbing work done, call us at (310) 853-8690.