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Platform Insights from Acorn Finance - Q4 2024

Stay informed with the latest updates on interest rates, terms and more that are available on the Acorn Finance Marketplace of lenders.
Published January 29th, 2025

What we're seeing:

 

  • Average offer amounts remained flat to Q3 but increased quarter over quarter
  • Positive trend for APRs, with the average rate declining for the quarter
  • Average terms of loans remained steady vs. Q3

Average Offer Amount

In Q4 2024, the average offer amount on our platform remained flat to the Q3 average offer amount at $17,285. The average offer amount for Q4 also represented a 3% increase over Q1 and 2% increase over Q2, indicating continued positive growth for the majority of 2024. This signals a continued demand for financing solutions among customers, opening up opportunities for contractors to capitalize on.

Average APR

Rates saw a positive trend throughout 2024 and ended the year on an encouraging note. The average offer APR in Q4 was 19.7%, a 5% decrease from Q3 and also a 5% decrease from the beginning of the year in Q1. The Federal Reserve lowering interest rates in recent months should likely contribute to this positive trend in the months to come, stimulating the market with more favorable financing options.

Average Term

The average offer term for Q4 was 53 months, remaining flat to the Q3 average. This consistency highlights the reliability of the financing terms on our platform, offering both contractors and customers predictable, manageable payment options.