Effective October 1, 2021, EnerBank USA ("EnerBank") merged with and into Regions Bank. Learn more here

As an experienced HVAC contractor, you're probably aware that most homeowners aren't prepared to pay for the unexpected cost that an HVAC system in need of repair can bring. In fact, studies have shown that a third of homeowners don't have a planned way to pay for a project before speaking to a contractor. As an HVAC contractor, you can solve such problems by offering financing to clients as part of your service. As an experienced HVAC contractor, you're probably aware that most homeowners aren't prepared to pay for the unexpected cost that an HVAC system in need of repair can bring. In fact, studies have shown that a third of homeowners don't have a planned way to pay for a project before speaking to a contractor. As an HVAC contractor, you can solve such problems by offering financing as part of your service.

How Does HVAC Financing for Contractors Benefit You?

By offering financing, you are providing a convenient and flexible payment option to your customers for their HVAC system upgrades and replacements. Of course, offering financing has benefits for you too:

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Close Deals Quickly

Time is of the essence when it comes to an HVAC project. With EnerBank, your customer can receive a lending decision within minutes and only need to sign once upfront. This means you can get to work sooner and finish jobs faster.

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Fast Funding

We've made requesting funds from homeowners quick and easy. At the time of application, your customer will select whether they want to be contacted via text or phone call. When you're ready to get started on the project, simply send the request, and the funds will typically hit your account within 24 hours of authorization.

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Better Customer Experience

Your customers will love the ease and convenience that comes along with EnerBank payment options including; a choice of paperless application methods and express loan decision. A happy customer is more likely to recommend you to their friends and family, helping you to further grow your business.

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Edge Out the Competition

Looking for a way to stand out from the competition? Offering reliable financing as a part of your services can help increase both the visibility and credibility of your business. Research has shown that by offering payment options at three key touchpoints; in your marketing, during the initial call, and while in the home, you can increase your close rate by up to 50%*.
*Based on the Brickyard Study conducted by EnerBank USA. 2018.

Plus, as a part of an EnerBank payment options program, you can easily track loans with our PartnerPortal system, have access to high-quality marketing materials, and you'll be assigned your very own relationship manager who can assist you with your business. Ready to get started? Click here to tell us about yourself and a new contractor consultant will reach out to you.

How do HVAC Contractors Offer Financing?

Research shows that over 55% of home improvement projects are financed in some way.* By joining one of our HVAC financing programs, you can start offering fast and easy financing options to your customers. When they see you as their problem solver, you're more likely to get even more of their business.

Our financing programs include three paperless application methods, including the Mobile Loan App, our Online Application, or Loan-by-Phone. With quick approvals, you can get everything signed, sealed, and delivered before you leave the home.

*Based on the HIRI TFG Monthly report, released October 2023.

same-as-cahs loans


The Same-As-Cash Loan (SAC) from EnerBank makes closing deals, increasing project size, and delighting your customers an absolute breeze. We call it “Same-As-Cash,” but really, it'’s better than cash, because i's a short-term lending solution with no interest and no monthly payment required during the “same-as-cash” period — (on approved credit – interest waived if paid in full during the same-as-cash period) — which means your customer can use their cash elsewhere.

reduced interest loans

Reduced Interest Loans

The Reduced Interest Loan (RIL) is half of your payment options one-two punch (the other is the Same-As-Cash Loan). These two choices should always be offered together, like peanut butter and jelly. A RIL is just like it sounds — a lower interest rate loan that is set up for a longer-term. Your customer pays back the RIL through easy monthly payments, helping them get the home improvement project they want in an affordable way.

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Zero Interest Loans

Zero interest is a mighty attractive offer. The EnerBank Zero Interest Loan (ZIL) offers the unique features of equal monthly payments combined with a 0% fixed APR. If qualified for a ZIL through EnerBank, your customers will appreciate getting the home improvements they want with a 0% fixed APR throughout the full term of their loan.

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Traditional Installment Loans

The most basic plank in your payment options toolbox is the Traditional Installment Loan (TIL). This is a longer-term loan with customers paying it off through equal monthly installments. A TIL can be a good choice for a customer who wants to make payments and get a better interest rate than a credit card.

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Yes Loans

Every customer you work with is unique, and so is their financial situation. That’s why EnerBank developed the YES Loan, an integrated counter-offer payment option that can help your less creditworthy customers get funding for their home improvement projects.

Frequently Asked Questions

QHow Long Does it Take for an HVAC Customer to Get Approved for Financing?
AIt can depend on both the lender you work with and the application method of your customer. In many cases, when using digital application methods, you can typically expect a quick credit decision, sometimes in just a few minutes. Missing or incorrect information included in the application may also delay the process. EnerBank’s pre-approval process can help by giving your customers a better idea of what they may qualify for, this can speed up the loan process, helping you close more deals.
QHow Can I Offer My Customers Financing for HVAC?
AAs an extension of your brand, it'’s important you sign up with a reliable lender that's going to provide a great experience to your customers. Once you select a lender, we recommend mentioning the availability of financing at these three touchpoints: in your marketing materials, when setting the appointment, and during the bid in the customer's home. Every homeowner should be offered financing to get the most out of your program. The more of routine that you make offering contractor financing, the easier it will be.
QWhat HVAC Services or Products Can Be Financed?
AIt can depend on the lender that you're using for your contractor financing. During your research phase, make sure that any work you do is a qualified project. In most cases, you can expect the HVAC systems and installation process to be covered by financing. Any maintenance costs that arise from the system, such as an annual tune up, are usually not covered by financing.
QHow Can an HVAC Contractor Offer Financing to their Customers?
AOnce you've selected a lender and have completed the sign-up process, you'll gain access to the tools and resources you need to begin offering contractor financing. Some lenders, like EnerBank, provide you and every member of your team with training so you know the most effective ways to implement financing into your business practices. Make it a part of your regular sales process to offer financing to every customer to get the most out of your program. Don't forget to mention the availability of financing in your marketing materials and website.
QIs it Better to Lease or Finance an HVAC System?
AIt depends on the individualn's situation. Upfront, leasing is the less expensive option, but in the long run, they may end up paying more than they would have if they had purchased the unit. Contractor financing provides an easy way for your customers to fund their HVAC project, especially when they donn't have the cash on hand to pay for it out of pocket.

Start Offering HVAC Customer Financing!

It's essential you work with a reliable lending partner to offer the right payment options for your customers. EnerBank has been offering HVAC financing for contractors for two decades — we have a variety of loan products designed specifically for contractors and their clients.

Get Started Now

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