HVAC Quick Business Loan

An article by Wayne Jordan    No Comments

Cash flow in the HVAC business is like a roller coaster.  Business is driven by the weather, and who can predict the weather?   When the weather doesn’t cooperate and cash gets tight, HVAC business owners can benefit from a quick business loan.

Fast Cash When You Need It

A quick business loan can help an HVAC business grow and stay profitable.  The business benefits because:

• Re-payment of the loan is done from credit card receipts; there is no fixed payment.  When sales are down, your payment is low.  When sales are up (and you can afford it) your payment goes up.
• No fixed repayment term
• No collateral
• Approval not based on your credit score

Easy to Qualify

A quick business loan through a merchant cash advance is easy to qualify for.  The requirements are:

• $2,500 minimum in credit card sales per month
• 4 months as the current business owner
• Be current on the property lease
• Have a FICO score of at least 500 (better credit = more funds and lower rates)

A merchant cash advance can take the fear and uncertainty out of seasonal sales fluctuations.  HVAC companies can benefit from adding this flexible financial tool to their management toolbox.

Plan for the Slow Season

Summer will be hot: an HVAC business will service more air conditioners and sell more A.C. equipment.   Winter will be cold, and HVAC field technicians will spend their time repairing furnaces.  In the Spring and Fall, it’s anybody’s guess what the weather will be like. A successful HVAC contractor who recognizes the cyclical nature of his business can keep his business running smoothly no matter what the weather with a quick business loan.

Prepare for Equipment Breakdowns

It’s important to keep funds available for servicing your equipment.  Nothing impacts revenue more than having a full service schedule and having a truck break down.  You can’t just go out and rent a fully-outfitted HVAC service truck.  A merchant cash advance can get you back on the road quickly.

Bid on Big Contracts

Big contracts mean big profits, but they also mean a large initial cash outlay for the contractor.  A quick business loan allows you to buy the equipment and supplies you need without stretching your credit limits or getting behind in your bills.

Invest In Growth

Getting a bank loan to grow your company is often difficult.  Nine out of ten small business loans are turned down by banks.  You know how it is: you have to prove you don’t need the money before they will lend it to you.  A merchant cash advance is easy to qualify for and can provide your company with the money it needs to grow.

A Valuable Tool

How well an owner runs his business during both the busy season and slow season can mean the difference between success and bankruptcy.  It’s important not just to maximize revenue in the busy season, but to manage cash well so that there will be some funds available to pay bills during the slow season.  A quick business loan through a merchant cash advance can be a valuable tool for the owner of an HVAC business.