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4 HVAC Financing Options to Heat Up Your Summer Business

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Summertime is rush time for your HVAC business! Before you know it, you’ll be running all over town handling all sorts of projects. From routine maintenance like cleaning dirty filters and coils, to more urgent requests, like broken parts. Sometimes, you need to explore your HVAC financing options to really heat business up.

Are you prepared to provide your customers with stellar service throughout the warmest months?

Don’t head into the summer without the tools and resources you need for your busiest season. Equip your company for every service call with the right business loans and financing options.

hvac financing options

How Does Funding Help Your HVAC Business?

Applying for funding in advance of the summer rush enables you to keep your company running at peak performance. You can use the extra money in your HVAC business to:

  • Hire and training new employees
  • Enlist help from subcontractors (and never turn down work)
  • Launch a summer marketing campaign
  • Purchase new equipment, tools and business management systems
  • Offer your customers the latest and greatest in HVAC systems and technologies
  • Meet regulatory standards for certification and safety
  • Pursue additional certifications (or help your employees obtain them)

Making these investments builds trust with your customers and positions your business for growth. When you’re able to provide consistent high-quality service, your recommendations will do the work for you. 

This can result in new jobs and more lucrative contracts as customers start to talk up your services.

HVAC Business Loans: Funding and Financing Options for Your Company

Now you know the why of pursuing business funding – but what’s the best way to get the money you need? Here are five common options for handling your HVAC business expenses this summer.

Business Line of Credit

When you need a ready source of cash for routine expenses, a line of credit has you covered. It’s the perfect solution for:

  • Paying recurring bills
  • Keeping payroll consistent
  • Expanding marketing and advertising campaigns
  • Renting special equipment for unusual or difficult jobs

There are no limitations—you can put the funds toward any expense that helps your business. Lines of credit give you flexibility to cover new expenses during times of growth, and a cushion during difficult phases.

Look for lenders offering revolving credit lines. This structure provides a credit limit that replenishes every time you make a payment. 

You’ll always have funds available, instead of having to apply for another loan once you’ve spent a given amount.

A line of credit puts less strain on your budget, too. 

The only time you have to worry about fees is when draw additional funds. The rest of the time, the cash is waiting for you when you need it – without the burden of monthly payments.

The bottom line: this HVAC financing option gives you ample funding and flexibility.

Equipment Financing

Your equipment will get a lot of use during the summer. 

Make sure everything is in top condition before the rush hits, and consider HVAC business financing to replace or upgrade whatever isn’t. This is a great option if you want to invest in new equipment or technology, but don’t have enough cash on hand. Using equipment financing to get the best tools now can boost your ROI throughout the season.

Don’t forget about reliable transportation to job sites, either. Your trucks need to get you and your employees to and from every call without delay. If any vehicle in your fleet has been acting up, or you’re simply due for an upgrade, it’s time to act.

Accounts Receivable Financing

Unfortunately, you don’t always get paid for your HVAC service calls before new expenses crop up. Bills keep coming in whether or not your customers pay on time. This HVAC financing option helps you to leverage unpaid invoices to your advantage.

Better invoicing practices can help prevent late payments, but when you still find yourself waiting on your money, there’s accounts receivable financing

A/R financing is a simple concept: 

You sell one or more of your outstanding invoices to a lender and get a percentage of the money right away. When the invoice is paid, you receive the rest (minus fees). 

By eliminating gaps between invoicing and payment, you can take on new jobs and keep money flowing into your business all summer.

Small Business Loans

What about when you need to make big purchases? 

HVAC business loans use a traditional term loan structure to give you access to larger amounts. You receive a set amount of funding and pay it off over a period of time, usually anywhere from a few months to a few years.

Business loans are best for:

  • Restocking inventory for the summer season
  • Hiring and training a new group of employees
  • Overhauling your marketing strategy
  • Increasing your online presence

Online lenders are able to rapidly underwrite loans, at a much faster pace than banks. Speedy funding is useful if you require extra money in the middle of a crazy summer schedule. 

Although it’s better to pursue a loan before you find yourself in dire need of cash, an online lender can be a valuable resource when time is of the essence.

Apply for an HVAC Business Loan Today

At National, we can help you find the best financing option for your HVAC company without jumping through hoops. Our simple requirements and quick application process make qualifying simple, and there’s no minimum FICO!

Apply now to get your funding in as little as one day!

Last Updated on May 1, 2020

National Business Capital is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.

Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.

We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!

About the Author, Lauren Coppolone

Lauren is the Marketing Manager at Nationalbusinesscapital.com. She has 7 years of professional experience with a focus on small business marketing and finance. She previously worked as a senior business analyst for B2B SaaS, Sky IT Group. She has covered topics including, business financing, startups, retail, taxes & regulations, etc. Her work has been featured by USA Today, Google & Yahoo News. Lauren holds a B.A. from the Fashion Institute of Technology’s (FIT) School of Business.


Disclaimer: The information and insights in this article are provided for informational purposes only, and do not constitute financial, legal, tax, business or personal advise from National Business Capital and the author. Do no rely on this information as advice and please consult with your financial advisor, accountant and/or attorney before making any decisions. If you rely solely in this information it is at your own risk. The information is true and accurate to the best of our knowledge, but there maybe errors, omissions, or mistakes.