Established prime lending platform with an elective-healthcare arm
GreenSky brings established scale and revolving-credit capacity for prime patients, but a home-improvement-first focus, deferred-interest plans, elevated merchant fees, a 2021 CFPB consent order, and very poor consumer sentiment make it a cautious, last-resort choice for med spas.
GreenSky is an established installment-loan platform whose loans are funded by bank partners, best known in home improvement but operating a genuine elective-healthcare arm branded GreenSky Patient Solutions that some med spas use. It serves prime borrowers with instant decisions, using a soft pull at prequalification and a hard pull on formal application. Plans include APRs in roughly the 3.99 to 26.99 percent range plus deferred-interest promotional options, and a revolving credit line up to $25,000 is available to repeat-business healthcare providers.
The practice is paid in full up front, typically within about two business days, in exchange for a merchant fee in the range of roughly 5 to 10 percent, with higher fees on small or 0% deferred-interest loans. Buyers should weigh the trust flags honestly: GreenSky entered a 2021 CFPB consent order that refunded about $9 million in loans and carried a $2.5 million penalty over unauthorized loans, and consumer sentiment is very poor. Ownership has shifted as well: Goldman Sachs acquired GreenSky in 2021 and sold it in March 2024 to a Sixth Street-led consortium. It is not an aesthetics-native product and offers no med-spa practice-management integrations.
Ideal customer
Med spas with prime patients and higher-ticket treatments that want an established platform with revolving credit capacity and can tolerate its home-improvement-first orientation and reputational baggage.
GreenSky is an established installment-loan platform whose loans are actually funded by bank partners. Its roots are in home improvement, but it runs a genuine elective-healthcare arm, GreenSky Patient Solutions, that some med spas use. It targets prime borrowers, makes instant decisions, and uses a soft pull at prequalification followed by a hard pull on formal application. For higher-ticket aesthetic work, the standout capability is a revolving credit line up to $25,000 available to repeat-business healthcare providers, alongside standard installment loans with APRs in roughly the 3.99-26.99% range and deferred-interest promotional plans.
The commercial mechanics are familiar: the practice is paid in full up front, typically within about two business days, in exchange for a merchant fee of roughly 5-10%, which runs higher on small or 0% deferred-interest loans.
This is where buyers need to be clear-eyed.
Consider GreenSky only if you specifically need its high-ticket and revolving-credit capacity for prime patients and you are prepared to manage around its baggage. For most med spas, the home-improvement-first orientation, deferred-interest plans, elevated merchant fees, past CFPB action, and very poor consumer sentiment make it a hard recommendation versus aesthetics-focused alternatives. If you do adopt it, be scrupulous about disclosing deferred-interest terms to patients and get the full merchant fee schedule in writing.
By Med Spa Vendor Hub Editorial Team. Last reviewed June 29, 2026. Independent editorial review — how we score.
The practice is paid in full up front, typically within about two business days, in exchange for a merchant fee of roughly 5-10%, with higher fees on small or 0% deferred-interest loans. Patients see APRs in roughly the 3.99-26.99% range plus deferred-interest promotional plans. A revolving credit line up to $25,000 is available to repeat-business healthcare providers.
Standard installment loan
Fixed-term loan with APR roughly 3.99-26.99%, funded by a GreenSky bank partner.
Deferred-interest promotional plan
Promotional plan with deferred interest; merchant fee is higher and patients owe accrued interest if not paid in full within the promo window.
Revolving credit line
Revolving line up to $25,000 available to repeat-business healthcare providers.
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Independent ratings from third-party review platforms, cited with sources. These are not our score.
A vendor-neutral guide to choosing patient financing for a med spa—covering why financing drives conversion, the six provider models, the deferred-interest trap, merchant economics, and how to match a provider to your patients.
Patient financing has no subscription - the practice pays a merchant discount fee (a % of each financed sale) and the patient pays APR or deferred interest. Here's a transparent 2026 breakdown of real merchant fees and patient rates by lender.
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