You can finance a contractor if you need to. You will usually be offered a loan for 12-18 months. This will often be done through a third-party lender. These lenders often specialize in these kinds of loans, and it is the only kind of loan that they offer. The interest rates for these loans are often fairly reasonable, but you will be required to demonstrate that there is work being done on your home improvement or construction project to be able to continue getting payments toward the project. Your contractor will need to provide evidence that they are working on the project as they proceed through the process for the loan to be allowed to continue. An easier way to finance a contractor is usually to use a personal loan or home improvement loan. If you take out a personal loan for a home improvement project, you may be able to cover the cost of the contractor with the loan. Personal loans should offer fewer spending restrictions and an easier approval process. Personal loans are often referred to as home improvement loans.