Merchant Cash Advances » HVAC Company Business Advance

HVAC Company Business Funding

Technician from HVAC company repairing ventilation system.

By Richard Wilson

Last Updated on

Estimated read time: 7 minutes

If you operate an HVAC company and need funding to upgrade heating equipment, enhance air conditioning services, or improve ventilation systems, MCashAdvance HVAC company advances are the swift solution you’ve been searching for.

We offer HVAC company advances ranging from $5,000 to $900,000 to help grow your HVAC enterprise. We fund all types of HVAC businesses, including heating services, air conditioning services, and ventilation services.

Securing financing from banks for HVAC businesses can be a lengthy and challenging process, often taking weeks or even months to obtain, with strict approval requirements, extensive paperwork, and a preference for businesses with perfect credit.

An advance from MCashAdvance for HVAC companies offers simpler approval, no paperwork or collateral, the possibility of receiving funds within 24 hours or up to 3 days, and accepts poor credit scores with no hard credit check that won’t impact your credit score upon application.

Get an HVAC Company Loan Alternative Now

Advance Amounts:

$5,000 – $900,000

Factor Rate:

1.1– 1.5

Repayment Terms:

3 – 36 months

Funding Time:

1-3 days

Applying is easy, free, and won’t impact your credit score.

Get the HVAC company financing you need today.

What is an HVAC Company Advance?

An HVAC company advance is a type of merchant cash advance (MCA) created for HVAC businesses, including heating services, air conditioning services, and ventilation services.

Your HVAC business sells a portion of its revenue to MCashAdvance in exchange for an upfront lump sum of funds called a cash advance.

In exchange, we will deduct a small percentage of your daily sales revenue until the advance is fully repaid.

Emergency Funding for HVAC Companies

In the HVAC (Heating, Ventilation, and Air Conditioning) industry, financial challenges can arise from various needs such as equipment purchases, vehicle maintenance, or unexpected operational expenses. A cash advance for HVAC companies offers a quick, flexible financial solution, typically available within 24 hours to 3 days, and can be used for any HVAC-related need.

HVAC Company Financing for Any Purpose

Here are 17 common ways a cash advance can be utilized in your HVAC Company:

  1. HVAC Equipment Upgrades: Use the funds to acquire state-of-the-art HVAC systems, including energy-efficient models, for installation in client properties.
  2. Specialized HVAC Tools Purchase: Invest in specialized tools like refrigerant recovery systems, gauges, and ductwork equipment that are essential for modern HVAC services.
  3. Fleet Expansion for Service Calls: Expand your fleet of service vehicles equipped with necessary HVAC repair and installation tools.
  4. Advanced Training in HVAC Technologies: Provide your technicians with training in the latest HVAC technologies, such as smart thermostat installations and green energy solutions.
  5. Stocking Up on HVAC Parts: Ensure you have a robust inventory of compressors, thermostats, filters, and other frequently used HVAC parts.
  6. Safety Gear for Technicians: Purchase advanced safety gear specifically designed for HVAC work, including protective eyewear, gloves, and insulation tools.
  7. Developing Energy Audit Services: Use the funds to develop and offer energy audit services, enabling clients to optimize their heating and cooling efficiency.
  8. Mobile Technology for Field Service: Equip your technicians with mobile devices and apps for efficient scheduling, invoicing, and job tracking while on the field.
  9. Enhancing Customer Comfort Facilities: Upgrade your waiting areas or customer service centers with efficient HVAC systems, showcasing your commitment to comfort and quality.
  10. Renewable Energy System Investments: Invest in renewable energy systems, such as solar-powered air conditioning units, to offer eco-friendly HVAC solutions.
  11. HVAC System Diagnostics Equipment: Acquire advanced diagnostic equipment to quickly and accurately troubleshoot and repair HVAC systems.
  12. Emergency HVAC Services Setup: Set up a dedicated emergency response team for HVAC emergencies, ensuring rapid response to client needs.
  13. Digital Marketing Focused on HVAC Solutions: Use funds for digital marketing campaigns specifically highlighting your HVAC services and expertise.
  14. Customer Relationship Management (CRM) Software for HVAC Businesses: Implement CRM software tailored to the HVAC industry for better client relationship management.
  15. Building a Training Facility for HVAC Skills: Establish a training facility where technicians can continuously update their skills with practical, hands-on experience.
  16. Compliance and Certification Costs: Cover the costs of industry compliance certifications and environmental regulations related to HVAC services.
  17. Investing in HVAC Industry Partnerships: Form strategic partnerships with HVAC manufacturers or distributors for better service offerings and supply chain benefits.

HVAC Company Advance Example

Let’s say you need a $12,000 of merchant loan to buy air duct cleaning equipment for your HVAC company. If you are approved for $12,000 and receive a funding offer with a factor rate of 1.3 and a daily credit card holdback percentage of 10%, your total repayment amount will be $15,600 which means you’ll be paying $3,600 in fees.

DetailsExample
Advance Amount$12,000
Factor Rate1.3
Avg Monthly Credit Card Sales$10,000
Holdback Percentage10% of Daily Credit Card Sales
Daily Credit Card Sales$333.33 per day (approx.)
Daily Payment Amount$33.33 per day (approx.)
Repayment Term (in days)Approximately 360 days
Repayment Term (in months)Approximately 12 months
Total Repaid$12,000 (Advance Amount) + $3,600 (Fees) = $15,600

HVAC Business Funding Eligibility

To be eligible for funding from MCashAdvance you must meet these 5 criteria:

  1. Your HVAC (Heating, Ventilation, and Air Conditioning) business must have been operational for at least 6 months
  2. Your HVAC company should be generating a minimum of $100,000 per year in revenue
  3. As the HVAC business owner, your personal FICO score needs to be 550 or higher
  4. Your HVAC service must utilize a business checking account
  5. You, as the HVAC business proprietor, must be over 18 years of age and a U.S. citizen

How to Get an HVAC Company Advance from MCashAdvance

To get an advance for your HVAC company business from MCashAdvance, follow these 5 steps:

Step 1: Begin Online Application: Click Apply for an MCA to begin.

Step 2: Fill in Your Details: Provide information about your HVAC company and some personal details as the owner of the company.

Step 3: Submit Bank Statements: Upload the last three months’ bank statements of your HVAC company.

Step 4: Await Review Process: One of our underwriters will review your cash advance application to decide on funding.

Step 5: Receive Offer and Funding: Once you get a funding offer, review it. If it suits your business needs, accept it, sign the MCA agreement and the funds will be deposited into your business account

Get an HVAC Company Business Advance Now

or learn more about merchant cash advances

HVAC Company Funding FAQs

Can HVAC companies get an SBA loan?

HVAC companies can potentially qualify for SBA loans, with options such as the SBA 7(a) Loan, SBA 504 Loan, and SBA Express Loan being available to provide financial support tailored to their specific business needs.

Can HVAC companies get invoice financing loans?

HVAC companies offering services to other businesses and issuing invoices for those services may be eligible for invoice financing, especially if they have a high volume of commercial contracts.

Do banks lend to HVAC companies?

Banks typically demand that HVAC companies have at least two years in operation, a FICO credit score of 680 or higher, three years of cash flow records, and a well-structured business plan outlining fund usage. Meeting these criteria increases the likelihood of banks approving a loan for your HVAC company. If you can’t meet these standards, alternative lenders like MCashAdvance may offer more accessible eligibility criteria for obtaining financial support for your HVAC business.

How does HVAC company equipment financing work?

HVAC companies can invest in equipment like heating and cooling systems and use the heating and cooling systems as collateral to secure financing. At MCashAdvance, you can obtain heating and cooling systems using our advances without having to use the equipment as collateral.

Can HVAC companies get business lines of credit?

Absolutely, HVAC companies can secure a business line of credit if they meet specific qualifications related to the HVAC industry. Qualifications often encompass having a FICO credit score of 660 or higher, a minimum of one year in the HVAC business, and maintaining monthly revenue exceeding $5,000 as an HVAC company.

How quickly can funds be received after applying for an HVAC loan?

Loans from traditional lenders for your HVAC company can take weeks and, in some cases, months to get approved, which is not ideal if you need funding fast. In contrast, an HVAC advance from MCashAdvance can be funded in as little as 24 hours or at the latest three days.

Why do HVAC company owners choose HVAC advances over other financing options?

HVAC company owners often choose HVAC advances over other financing options due to their speed and convenience. These advances, offered by alternative lenders, feature a streamlined application process with minimal paperwork, ensuring quick approval and funding. In an industry where immediate access to funds is vital for equipment purchases, handling emergencies, or seizing growth opportunities, HVAC advances stand out.

About the Author: