HVAC & Plumbing Business Loans
If you’re considering expanding your business that provides services related to heating, ventilation, and air conditioning (HVAC), now is a great time to do it. Why? The Bureau of Labor Statistics reports that this particular field is growing at a rate of 15 percent, a number that is more than twice as high as the national average.
The same is true for entrepreneurs who want to improve their shop that provides plumbing services. According to the Bureau of Labor Statistics, jobs in this field are expected to increase by a whopping 16 percent between the years 2016 and 2026, a rate they declare is “much faster” than the 7 percent average.
What type of business can you create that falls into one these fields, giving you access to greater profitability thanks mainly to its impressive growth rate? Here are a few options to consider based on the occupations that fall under this particular Standard Industrial Classification (SIC) code:
• Air conditioning equipment installation, maintenance, and repair
• Heating equipment installation, maintenance, and repair
• Plumbing installation, maintenance, and repair
• Drainage system contractor
• Lawn sprinkler contractor
• Sewer hookup and connection
• Sheet metal contractor
• Solar heating contractor
• Sump pump or water pump contractor
• Water system balancing and testing
Choose First Union Lending as your financial lending provider, and you will have access to a variety of funding options. These include if you’re seeking a construction or equipment small business loan to establish your office further or ensure that you have the right tools on hand.
If you want to expand your plumbing or HVAC business, you may want to look to merger and acquisition loans, lines of credit, and working capital loans to obtain the finances you need to grow. Merchant cash advance loans can also be of value in these types of cases, giving you access to flexible funding with payback options based on your future credit sales.
In addition to building and equipment purchases and updates, plumbing and HVAC small business loans and merchant cash advances can be used for other purposes. For instance, if the business is traditionally slow during certain months, you can use these funds to pay your insurance or increase your cash-flow. This can help cover payroll, taxes, and all of your other expenses during this less-busy season.
Funding obtained from these sources can also be used to:
• finance training your employees in different areas
• purchase new technology that can improve your response time,
• aid you with quotes and invoices,
• help you better serve your customer base.
First Union Lending Helps Satisfy Your Funding Needs
Though some plumbing and HVAC business owners still obtain small business loans via traditional lending sources, these often take weeks (if not months) to finalize. Not with First Union Lending. We will notify you of your loan status within as few as two business days.
Additionally, because we’re available to you 24 hours a day, seven days a week, you can apply for your plumbing or HVAC small business loan when it is most convenient for you. We’ve got you covered whether it’s 11 p.m. because you had to wait until your workday was complete and your family obligations were met, or it is 4 a.m. because you want to get your application in before heading out for the day.
The future is looking bright for businesses within the plumbing and heating and cooling fields. Here at First Union, we’ll do what we can to keep that light shining. Call us today!