HVAC Business Financing for Contractors

If customers do not have enough money to pay for a new HVAC system or HVAC repairs, they can use HVAC financing. Most HVAC loans offered through Acorn Finance are fixed loans, meaning the rate and term will not change during the loan. In addition to the rate and term staying the same, the monthly payment should not change either. Many lenders that partner with Acorn Finance offer HVAC loans with no early payoff penalty. This means customers can pay the loan off early and save tons on interest. HVAC companies that offer financing through Acorn Finance are paid in a lump sum and not responsible for repayment. Similar to a traditional loan, an Acorn Finance partner lender will approve your customer once deemed creditworthy. Acorn Finance does not require HVAC companies to pay any subscription or transaction fees.

HVAC financing for contractors can provide higher profits while improving customer satisfaction. There are many financing companies that can offer competitive?financing options for contractors?and their customers. Whether you want to offer HVAC financing for customers or need an HVAC business loan, Acorn Finance can help. Keep reading to explore everything you need to know about HVAC financing for contractors.

Why offer HVAC business financing to customers?

The reasons to offer HVAC business financing to customers are practically endless. Offering financing for customers not only increases your revenue but improves customer satisfaction and differentiates you from competitors. HVAC companies that offer financing are likely to get more referrals and better employee retention. Partnering with Acorn Finance to offer HVAC financing allows you to offer many options to customers, which is a huge advantage. Being able to help different types of customers with different situations can expand your customer base and provide more opportunities. Acorn Finance's platform allows your customers to receive multiple personalized loan offers (without affecting their credit) and select the offer that is best for them.

How do you offer HVAC financing to your customers?

Offering HVAC financing to your customers may be much easier than you think. The first step to offering HVAC financing to customers is to visit Acorn Finance. HVAC companies can sign up to start offering financing at Acorn Finance. The process is quick, easy, and headache-free.

Do most HVAC companies offer financing?

Most successful HVAC companies offer some form of financing for customers. Some offer in-house financing and others offer third party financing. In house financing may be more profitable but also much riskier. In addition, in-house financing typically requires more capital and resources. If you are a professional HVAC company you should stick to your profession and let us help you with the finance aspect. Offering third party financing options can provide customers with more options.

How can my customers apply for HVAC financing?

If you enroll with Acorn Finance, your customers can apply using our mobile app or online website. Both platforms are secure and can connect customers with reliable lenders. Customers should have a 580 or higher credit score to qualify for an HVAC loan. Acorn Finance allows borrowers to add a cosigner to the application. If a customer has hesitation about being able to qualify you should ensure them that their credit will not be affected by applying. You should also encourage them to add a cosigner if they have credit challenges.

What are the benefits of offering financing to your HVAC clients?

You and your clients are sure to benefit from HVAC financing. Let's take a look at some of the benefits of offering financing to your HVAC clients?
High loan amounts up to $100,000
No fees
Generate more revenue
Increase sales and customer satisfaction
Improve employee retention
Encourage customers to make whole system replacement
Offer top quality materials and service every time
Loans completed online quickly
Boost your chance of referrals

HVAC Financing for Contractors: Tips & Lenders

If you are an HVAC contractor the best tip we have is, use Acorn Finance to offer HVAC financing. Acorn Finance only partners with reliable lenders that will have your customers back. Even though you are not the one financing the customer, their experience with the third-party lender can reflect their experience with you. This means it's important to make sure you are using quality lending partners with a solid reputation. Your customers can apply through Acorn Finance and receive multiple personalized pre-qualification offers within minutes without affecting their credit score. You can assist customers with payment estimates and the application process using tools provided by Acorn Finance. Acorn Finance can make the process seamless and stress-free for you and your customers. Customers with good and bad credit can qualify for HVAC financing through Acorn Finance.

How do contractors offer financing?

Offering HVAC financing for contractors is easy and free through Acorn Finance. Contractors can sign up at Acorn Finance by submitting a simple application. Once approved, Acorn Finance can provide the tools and resources contractors need to offer financing. Contractors will be able to connect customers with lenders that can provide competitive HVAC financing with affordable payments. Contractors will not be charged any dealer fees and can receive payment in full upfront while customers get the luxury of making payments over time.

How do contractors get HVAC financing?

Most contracts that offer HVAC financing use third party lenders. This means that the contractor does not lend their own money and is not responsible for repayment. In most cases, the third party lender will approve the loan and issue funds to the borrower in a lump sum. The borrower can then use the funds for just about anything they need to. Some lenders may offer deferred payments so your clients don't have to start making payments until after the project is complete.

What are the benefits of offering HVAC financing?

About 50% to 80% of HVAC projects are financed making it practically essential to offer financing for customers. Top of the line HVAC systems can easily cost over $20,000 meaning you need to partner with lenders who can offer large enough loan amounts. Replacing an HVAC system may only be slightly more than repairing an HVAC system. If you can offer customers an affordable financing solution they will usually choose to replace their system resulting in larger project size and more revenue for the contractor. In addition, you can offer top quality materials and installation without fearing rejection. The large up-front financial burden is instantly removed when you offer financing options for customers. Creating the most enjoyable process possible for the customer can increase your chance of a referral. Customer can tell their friends and family about your top-notch service and painless financing options. Financing can benefit customers and contractors.

HVAC Financing Benefits for Homeowners:

Affordable payment plans
Deferred payment
No early payoff penalty
High loan amounts
Reduced stress

HVAC Financing Benefits for Contractors:

Increase revenue and project size
Improve customer satisfaction
Deliver higher quality materials and work
Differentiate your company
Increase referrals

Is HVAC financing worth it for contractors?

Contractors should work with lending partners that do not charge any additional fees or take money from your profits. Some lenders may try to take 7% to 8% of your bottom line. If contractors partner with Acorn Finance it's definitely worth investing a little time in setting up your relationship. Acorn Finance is completely free for contractors and can help you get paid faster.

Pros & Cons of HVAC Financing for Contractors

The list of pros is much longer than the list of cons when it comes to offering HVAC financing to customers. Let's take a look at the pros and cons of HVAC financing for contractors?

Pros:
Offer affordable payment solutions
Get paid in full upfront while customers pay over time
Generate more revenue
Pay no additional fees when you partner with Acorn Finance

Cons:
Time investment to set up financing and train staff
Customers may incur interest and other fees

Why choose to work with Acorn Finance?

HVAC business owners and employees can take advantage of a user-friendly app that helps convert total project costs into affordable monthly payments. Most lenders can deliver financing for your customers as soon as 1 business day. Acorn Finance is a top choice for business owners because they offer an advanced, secure, and simple to use platform and partner with lenders that offer competitive rates and terms. In addition, good and bad credit customers can qualify for an HVAC loan through Acorn Finance. Acorn Finance offers rates starting at just 5.73% and terms up to 12 years. On approved loans, borrowers can borrow up to $100,000.

Secure HVAC Contractor Financing Today

In conclusion, HVAC companies can help customers while growing their business by offering financing. Some HVAC companies may have hesitated to offer financing due to concerns about paying fees or investing tons of time setting up options. Acorn Finance does not charge any subscription or transaction fees to the HVAC company. In addition, Acorn Finance partners with lenders that can assist all credit types. You and your customers can enjoy a quick application process and fast loan approval. Partnering with Acorn Finance to offer HVAC financing can make the process seamless for you and your customers.

In conclusion, contractors should offer HVAC financing to customers if they want to increase revenue and project size. If you have finished this easy read, you know exactly where to go to start offering HVAC financing to customers. Choosing the right lender partner is key to your success in offering financing to customers. Acorn Finance provides top-notch and competitive financing for customers without any dealer fees. This means you can help customers while actually increasing revenue. If your lending partner charges dealer fees you may end up increasing overhead which can take away from revenue and profits. In addition, Acorn Finance offers high loan amounts up to $100,00 with interest rates starting at just 5.73% and terms up to 12 years. Most of the lending partners highlight no early payoff penalty. This means customers can pay their loan off early and save money on interest without being charged any penalties. When you first mention financing to customers, they may have some objections such as down payment, bad credit, high monthly payment, and so on. Acorn Finance can help you overcome just about any objection. Good and bad credit borrowers can qualify for HVAC financing through Acorn Finance with no money down. Contractors can visit Acorn Finance and submit an easy application to become an approved Acorn Finance partner.

Increase revenue and project size instantly'offer HVAC financing now!