HVAC Financing for Contractors

Offer home improvement loans to customers with no hidden contractor fees or credit cards.

No hidden contractor fees or credit cards
Instant approvals up to $100,000
Payment direct into your bank account via ACH
Close more bids and save you and your customers money

Making HVAC financing easier and less expensive for your customers translates directly into more closed installation contracts and higher profits. It’s tricky talking potential clients into upgrading to high quality, energy-efficient, home heating, ventilation, geothermal or air conditioning systems. A quality lending partner makes projects affordable through low, monthly payments that make for a much higher chance of winning the contracts your company needs.

A superior lending partner also makes switching to a business model that offers financing easy. Offering financing products to your prospective clients can lead to big increases in your number of customers and bottom line profit.

Close More Sales

Eliminate paying fees to banks and finance companies

Seamless Funding

Close more sales by focusing on low monthly payments

Sell More

No more compromising on price – upsell the project your customer really wants.

The Benefits of Offering Financing to Your HVAC Clients

Upgraded HVAC systems offer a major quality of life boost for customers. Increased comfort, better air quality, and improved energy efficiency all flow from installing the latest HVAC technology.

Between 50-80% of HVAC projects are financed, so having quality, advanced, modern financing gives you and your clients a fast, efficient path to achieving the great results of upgraded HVAC systems.

Good Financing Covers Even the Most Expensive HVAC Installations

The most expensive home HVAC installations (with zoning, etc.) can easily cost above $20,000. When picking a financing company to work with, pay attention to these features:

  • A high enough maximum loan to cover most projects; Up to $100,000 is excellent.
  • Most contractors offer a “good”, “better”, or “best” scenario when estimating HVAC projects. While most contractors would prefer that consumers choose the “best” scenario, consumers often choose “good” or “better” because of cost constraints. Financing allows more customers to choose the “best” scenario, so that they can have the equipment they need at a price they can afford.

Look for Financing Services that Minimize or Eliminate Fees

With typical HVAC financing services, many lenders will often fatten loans up with additional fees. These fees can hollow out your bottom line. You might lose 7% to 8% of your profits to these intermediaries. You might even lose more money through hidden fees when financing companies force you to use a credit card.

A service that eliminates these fees and credit cards can mean that every project you finance is worth more money.

Makes Whole System Replacement More Attractive & Affordable than a Partial Install

The national average of whole-house HVAC system installation can cost between $4,000 and $12,000. The actual cost of installation is dependent on the house size, the type of new system, the existing state of your home’s ductwork. Here are a few options available to customers: Split-system central air conditioner, packaged systems central air conditioner or ductless mini-split systems.

When fixing an existing HVAC system, full replacement can cost $3,000 to $4,000 more than a change-out. It requires 4-5 days and involves tearing out all existing ductwork, then fully replacing it with new ducts. Specially fabricated manual dampers are installed at the junctions to ensure proper balance of airflow to all rooms.

At least 80% of existing HVAC installations require full replacement when they stop functioning correctly. Only 15% to 20%, still have leak-free, clean, fully functional, ductwork sufficient to properly support modern HVAC.

Readily available financing which reduces up-front and ongoing payments to very reasonable levels makes it far easier for customers to accept and afford a full reinstall without having to strain their budget.

Allows You to Offer Top Quality Materials and Installation Every Time

Using financing frees your customer from the burden of a big up-front cash payment. You can explain to your customers that financing lets you provide superior quality HVAC equipment, materials and installation without straining their budget.

Financing allows money and time for proper installation. This includes fabricating junction dampers to ensure proper air balancing, crimping and double sealing all joints, insulating the junctions to forestall mildew and mold, and strapping the ducts in place so they won’t migrate. The system’s quality and longevity makes it very cost-effective long-term a major selling point.

Loan Application Delivered Through Your Company Website

Financing services offer multiple options for easily integrating loan applications into your website. These include custom pages, links, buttons, widgets, payment calculators and other features enabling fast, handy financing access for customers.

Boosts Your Chance of Profitable Referrals

Getting smooth, fast financing for an outstanding HVAC installation creates many satisfied customers happy with your company’s services. With a top-line system put in reach by good financing, and a pleasant, simple process free from difficult choices, customers will likely recommend you to friends or colleagues. Referrals may rise when clients tell their friends how painless your streamlined financing method made their experience.

HVAC Financing FAQ

Should I Offer HVAC Financing Over Paying Cash or Credit Cards?

Yes, you should always offer financing. Why? Because 50% of all consumers that purchase home improvements over $5,000 use some form of financing. Accepting credit cards adds a 3% surcharge to the contract who in turn, either eats the const or increases the project cost neither option is optimal.

Accepting cash is great, but the contractor must work as a collection agent throughout the project hoping to get that last and final payment. A great financing program that offers no contractor fees is superior to all options because you are not only helping your customer get a better HVAC unit with low, monthly payments, but the lender guarantees 100% of your payments on installation usually via ACH direct deposit. No more chasing payments.

What Percentage of HVAC Customers Use Financing?

National statistics state that between 50% and 80% of HVAC projects are financed. Quality financing can double, triple, or quadruple your potential customer base.

Does Financing Offer Any Advantages to a Client with Cash Available?

Financing has advantages even for clients with available cash by allowing them to keep their available cash for other uses while adding a monthly payment to their budget instead. Upgraded installations only raise this payment slightly, allowing you to offer more options.

Are There Alternatives to Getting Payments from Clients Myself?

Some financing requires you to collect payments from clients, but a good modern financing service takes full responsibility for collection, leaving you free and clear to move forward to fresh successes.

PowerPay FAQ

What’s considered a home improvement?

Any equipment, service, installation costs or other project related to home improvement qualifies for financing. The following is a partial list of what PowerPay finances: HVAC equipment & installation, attic insulation, stone veneer, windows, siding, roofing, kitchen remodels, bathroom remodels, cabinets, carpet, deck & patio, doors, fireplaces, garage doors, smart home equipment & installation, hardwood flooring, paint & wall coverings, hardscaping, landscaping, siding & exteriors, tile, stone & countertops, air conditioning & heating, gutters, spa & pool, home additions, deck building, tile installation, basement remodeling, custom cabinets, fence installation, lighting installation, garage building, cabinet installation, backsplash installation, electrical and plumbing and appliances.

Why should I offer financing?

50% of all home improvement investments over $5,000 are financed. Additionally, over 30% of all homeowners research financing options before making a home improvement purchase. Offering financing enables you to close more sales and earn more money on every job. By translating a large, expensive home improvement into a low monthly payment, you’re less likely to lose sales because of pricing, and you’re less likely to see customers haggling with you over costs. Quite simply, offering financing can help you to grow your business.

Why do dealers and contractors choose PowerPay?

We were founded by a home improvement professional who knows firsthand the power of financing as well as the damage fees can do to your bottom line and your customers’ pocketbooks. The average contractor pays 7.5% in fees on every financed home improvement project. That’s why we eliminated all unnecessary fees, coverage charge and penalties.

PowerPay also offers the longest payment options – up to 15 years. Our rates start at 8.99% and we can offer up to $100,000 loans with staged funding for qualified contractors.

How do customers pay me and what’s my risk?

Customers don’t pay you. PowerPay will direct deposit funds into your account via ACH within 48-hours after the install. You keep 100% of the funds, and your payment is guaranteed when you complete the project. It’s simple, fast and easy. No more collection calls and chasing clients for payments.

How does PowerPay work?

By using PowerPay, you are giving your customers options to pay for home improvements with financing.  Your customer will apply online using our online application form and a decision is generated in seconds.  Once approved, you can complete the transaction with your customer from our easy-to-use portal.  Electronic documents will be sent via email and your customer can sign electronically – we are fully paperless.  Your customer won’t get any bills for a month or so after installation.  You will get paid by PowerPay in full after the installation is complete.

How do I offer PowerPay to my customers?

There are a number of ways to offer PowerPay to your customers:

First, your clients can apply at GetPowerPay.com
Second, we can supply you with a link or button for you to add on your website.
Third, customers can apply by contacting our call center and using your dealer/contractor ID.
Finally, your salespeople can provide a link to apply or use a tablet with our application form during in-person visits.

Who is the lender?

While other finance companies serve as “middlemen” and take fees from you for allowing you to offer financing to your customers, PowerPay does not act as a middleman or lead generator. That’s why we are able to not charge any fees.  We have funding commitments for $15 billion.  Every borrower is approved through our systems and all loans are processed through our system. That means that we control the rate and loan term, and service every loan.

How complicated and time consuming is set up?

With PowerPay, enrollment is through a simple form that takes 2 minutes.  After that, our team will train and onboard you or your salespeople at no cost at a time that’s convenient for you.  Our process is so simple that training takes less than 30 minutes.  We can have you up and running and writing loans in one day.

Why don’t you offer “No-No” loans?

A “No-No” loan is also known as a deferred-interest credit card loan.  We don’t offer teaser loans for a few reasons.  Studies show that most customers that qualify for these loans can afford to pay cash for the home improvement.  So, by offering these loans, you are paying an average 10% in bank fees, and either eating the cost of the loan or passing it on to your customer.  This doesn’t make sense.  The main reason to offer financing is to help the customers that cannot afford to pay cash for a home improvement.  Deferred-interest credit card promotions don’t help customers that need it because the payments are much higher and if they are late or miss a payment, they’re hit with heavy penalties and an acceleration of the interest payments.  Rates can be as high as 30%.

We don’t believe in these loans.  We offer a fair, low-interest rate with 5-, 10-, and 15-year options so your customer can get the lowest payment possible.  A low monthly payment with no fees ensures that everyone is happy—both you, and your customer.

PowerPay Partners

Enroll Today! Use Tomorrow!