Business Loans for Plumbers

• Hassle-free application and flexible loans for plumbing contractors.
• A variety of products to chose from to meet your needs.

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Get Business Loan for Your Plumbing Business

The plumbing business has seen high demand and grown by leaps and bounds. There is an abundance of work right now for plumbers and plenty of opportunities in the immediate future for any plumbing business. With the added growth in plumbing business comes a greater need for funds to support that growth. That’s when plumbing companies start to look for plumbing company business loans to fuel their expansion, whether it's purchasing new equipment, getting working capital, or refinancing existing debts.

The contracting business, and specifically a plumber, are always in need of working capital due to the industry’s nature and how plumbing projects get paid. Leveraging financing terms that benefit your plumbing business purpose can be pivotal. SBA financing, for instance, provides flexible terms with its SBA Express loans and Community Advantage loans, creating a viable path for long-term financial stability.

Getting small business financing to help run plumbing operations is essential to balance multiple jobs simultaneously. You often have to purchase supplies and meet payroll and other business expenses while waiting to get paid in the plumbing industry. Traditional bank loans and other conventional lending routes have always posed a challenge in getting funding for the plumbing business. Luckily, that’s where AdvancePoint Capital can help.

Unlike banks, AdvancePoint has a variety of loan products for small businesses, including a plumber. AdvancePoint Capital offers company financing options that are especially beneficial for plumbers looking to take on more work and grow their business. Let’s look at what type of plumbing business financing is available in our lender marketplace.

With SBA-backed options offering favorable financing terms, plumbers can confidently invest in their businesses without the burdensome rates commonly seen in conventional loans. This is particularly helpful for businesses requiring significant upfront expenses before project completion or in pursuit of expanding services to meet customer demands.

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AdvancePoint Capital makes the loan application process a simple, straightforward experience.

Loans for Plumbing Companies

There are many small business financing options that a plumber can use to their benefit. Plumbing contractors can fulfill a wide range of working capital needs. Finding the right financing that will get you the best return on investment for your daily operations may take some guidance. That’s why we put together the eight best business financing options for clients. Each of these financing options offers unique benefits and qualities that may work best for business owners. Take a look at which types are best suited for your business needs.

Long-Term Plumbing Business Loans

Long-Term Plumbing Business Loans

Long term business loans are available for plumbing companies who have plans for a large expansion and wish to invest in capital improvements to commercial real estate, or perhaps are looking to refinance business debt. Offering the benefit of a 10-20 year repayment term, these loans can provide plumbing businesses with the ability to extend their financial commitments over a longer period, aiding in cash flow management.

  • Terms from 3 to 10 years
  • Interest rates starting at prime + 2.25%
  • Monthly, Bi-Monthly and weekly Payments
Short-Term Business Loan

Short Term Plumbing Business Loans

Short term loans are a great option for plumbing businesses who struggle getting traditional financing. To keep your business running smoothly, short term plumbing business loans offer a working capital solution for the plumbing industry.

  • Based on interest rates starting at 9%
  • Monthly, Bi-Monthly and weekly payments
  • Terms that range from 3 to 36 months
Business Line of Credit

Business Line of Credit for Plumbing Companies

Business Lines of credit are great options for businesses who need to draw funds on demand same business day and only want to pay interest on outstanding balances. A line of credit has affordable interest rates the business owners love.

  • Interest rates starting at 1% per month simple interest
  • Amoritizations ranging from 12, 18,24 up to 36 months
  • Weekly payments
Merchant Cash Advance

Merchant Cash Advance for Plumbers

Merchant cash advances are not loans but future sales receivable agreements that allow plumbing business to leverage there sales for funds. Repayment is closely tied to the company's incoming revenue stream, making it flexible during periods of fluctuating sales. While merchant cash advances provide access to capital for plumbing companies with less than stellar credit, it's vital to understand the alternatives. For example, plumbing companies could consider SBA Express Loans which offer 10-year equipment loan terms, aiding long-term financial stability without immediate repayment pressures. Nonetheless, a merchant cash advance can be an effective stopgap solution, particularly when traditional financing options are not suitable.

  • Factor rates starting at 1.18%
  • Estimated time to reapy from 3 months to 18 months
  • All credit types considered
  • Flexible repayment options
Equipment Financing

Equipment Financing for Plumbing Businesses

Buying equipment and plumbing tools is a cost of doing business. For plumbers, acquiring the necessary tools without straining cash flow is vital, and sba equipment loans, like SBA Express Loans, are an excellent financing option. With terms up to 10 years, these loans can ease the financial burden, allowing plumbers to purchase essential vehicles and equipment effectively. Moreover, SBA 504 loans offer low-interest financing specifically for long-term equipment needs, reinforcing the financial stability of plumbing businesses. equipment loans or leases are available to meet these needs with favorable conditions.

  • Leases and/or loan options
  • Based on interest rates or factor rates
  • Terms from 2 to 5 years
  • Monthly or weekly payment options
SBA Loan

Small Business Administration (SBA) Loans for Plumbing Businesses

The Small Business Administration backs SBA loans. SBA loans are issued by approved SBA lenders who follow SBA guidelines and requirements for an SBA loan. Other SBA loans, like SBA microloans are SBA backed business loans up to $50,000 maximum loan amount that can be used for working capital. SBA microloans are popular because of affordable interest rates. 7(a) SBA loans can go up to $350,000 without significant collateral and are excellent for refinancing debt.

  • SBA 7 (a) options up to $350,000
  • Monthly Payments
  • Interest rates starting at Prime plus 2.25%
  • Backed by SBA loan guarantees
Invoice Financing

Invoice Factoring / Financing for Plumbing Companies

For plumbers that work on the commercial side of the business and invoice there clients, invoice factoring is a solution hat advances money off of unpaid invoices that are within the term set on the invoice.

  • Factor rates starting at .75%
  • Invoice advance up to 90%
  • Same day invoice funding at time of issuance
  • Low invoice volume requirements as low as $50,000 pe month
Business Credit Cards

Business Credit Cards for Plumbers

Credit cards are a great addition in the tool box of business financing options. Credit cards are difficult to get if you have bad credit.

Benefits of Plumbing Business Loans

Benefits of Plumbing Business Loans

Cash Flow/Working Capital Loan

One of the significant challenges of a plumber is managing the cash flow of receivables. Most projects that a plumbing company takes on have completion dates and time frames that can fluctuate with delays in the overall projects, which is out of a plumbers control, causing incoming revenue unpredictability. Couple that with day-to-day expenses like building materials and other business debt creates issues to have enough funds in the bank account. Business financing or financing for plumbing repairs can solve this problem.

A plumbing job can be unpredictable by nature. Financing is a way to solve those problems by filling immediate issues like customer payment delays, supply and equipment purchases, payroll, marketing and general operating expenses that commonly occur in the plumbing world. If you own a plumbing company, you know how important these loans can be to the operations and making everyone happy. Plumbing business loans and other financing options give plumbing businesses the freedom and funding power to take on new opportunities to grow their plumbing businesses.

Owning Your Own Equipment

Equipment financing allows contractors to own their equipment an plumbing tools, saving money long term on renting equipment for jobs there working on, making higher profit margins on work for their plumbing businesses.

Whether it’s a small operation or a large one, owning equipment plays a significant role in savings and cost-effectiveness. Regardless of your time in business, considering equipment loans is always an excellent long-term investment that can make a real impact over time for any plumbing contractor business.

Hire Employees and Managing a Growing Team

It starts with great people in the plumbing industry. Hiring a great team is the lifeblood of a plumbing company. Recruiting can cost funds because the workflow is not as steady as other businesses. Salaries, signing bonuses, and training staff on new technologies can burden businesses without contractor loans in place to sure up any funding issues. A plumbing company loan is a great way to grow and utilize funding for onboarding people. Plumbing business loans offer a ton of stability in cash flow during the hiring and growth process.

Making Payroll

For a plumbing business, the technicians can make or break a plumbing business. It is essential that technicians who are on the front lines of your business are always compensated on time. Missing payroll is not an option.

Get started today. We can provide access to a wide range of plumbing business loans and lines of credit options that you can take advantage of when needing funds fast. Finding the right funding solution can be difficult, but here at AdvancePoint Capital, we make it easy to get the funds you need.

Pros and Cons of getting a Business Loan for your Plumbing Business

When considering financing for your plumbing business you must always consider pro's and con's so you can make good decisions and avoid over levergaing business and doing mor eharm than good.

Pro's

  • Working Capital to help grow the business.
  • Protects capital reserves for emergencies or unexpected events.
  • Provides purchasing power and helps pay unexpected expenses.
  • A vehicle to build business credit and prove ability to manage debt

Con's

  • Can overleverage business with unhelpful debt
  • Debt payments increase monthly expenses reducing margins and profit
  • Debt can damage credit if you go deliquent or default on payments

How to qualify for Plumbing Business Financing

Qualifications and areas that most lenders/funders consider for business lending include:

  • Credit - Most lenders will evaluate both business and personal credit of the business owner comes to business financing. Credit plays a significant role in determining what lending products you qualify for and the terms you will be offered. Be aware that the although there is not set minimum credit score for SBA loans past credit issues will impact offerings, strong credit histories will work in your favor and provide more options and favorable terms to consider.
  • Time in Business - Lenders way time in business with risk. Many busines financing products have minimum times in business for qualifications. Startups, most often will need to turn to SBA loans that are more accommodating, while other products may require a minimum of 6 months to 3 years in business. The longer time in business, the more of a track record a lender can look at to determine risk. Longer time in business can result in better options, rates and terms.
  • Cash Flow - Managing your cash flow through your business operating bank account is going to be evaluated by lenders. Underwriters will review debits, credits, daily balances, number of deposits and consistancy of overall revenue monthly, as well as cash reserves. Underwriters are evaluating any ternds they see but also concerned about consistency and reliability in your cash flow.
  • Financial Statements - Some loans may look at tax returns, profit & loss statements, balance sheets, accounts receivable/accounts payable and debt schedules others require less documentation. Collateral is not often needed for working capital loans or short-term funding, and the documentation needed is minimal. but with less documentation and collateral comes higher rates and more restrictive terms.

How to apply for a business loan for my Plumbing Business

  1. Consider your need- What is your need? The prurpose of funds in business lending is important as it drives what product may serve you best and terms that are best suited for the reasons you need money.
  2. Understand your qualifications- Determine your qualifications such as credit, cash flow, financials and factors so you can evaluate with the business loan originator what you qualify to apply for. Your qualification will impact who you work with, what products you will be offered and the terms you will be offered.
  3. Chose the lender or originator- Not all lenders are equal. Conduct an interview with business lenders and funders to determine who is the best fit for your needs and qualifications. Look for reputation of who you are dealing with and check reviews online. Check for what products they offer compared to other lenders. Experience and reputation should be considered when choosing the best business lender you want to work with that best suits your needs and qualifications.
  4. Consider product offerings- Does the lender have product diversity? Match the lender offerings with your need to make sure it works for your qualifications and the use of
  5. Take application- Provide filled out application and required documents depending on products your applying for pre-approval.
  6. Compare Offer(s)- Receive multiple offers and break down rates and terms. Shop and compare offers to make sure your getting the best solution for your need and qualifications.
  7. Select best offer- Chose offer and request agreement to sign and necessary closing conditions for final approval.
  8. Final Approval- Once the lender has received all closing conditions and signed agreement the lender or funder will conduct a final review that includes checks and verifications.
  9. Funding- Upon a clear-to-fund, and the lender sets up the repayment process, the funds are then disbursed to the business bank account.

*Not all business funding application processes are alike, so it's important to check with your lender or business loan originator as to the application process BEFORE you apply for details.

Why Choose AdvancePoint?

Why Choose AdvancePoint?

We’ve helped countless companies in the plumbing industry find a loan option that works best for their business. Our simple diverse range of business loans and financing opportunities gives our plumbing companies the freedom and flexibility to find a solution that works for them. With AdvancePoint Capital, you’ll get the benefit of industry professionals with experience in the plumbing industry. We make it easy to get you offers with a fast approval process to meet your business needs.

  • Experience within the plumbing industry – We have been financing plumbing companies and offering plumbing business loans for years.
  • Trust – Excellent reviews and feedback from plumbers.
  • Loan Specialist – An experienced team of financing experts who know the plumbing industry and provide solid business advice.
  • Free to find out – No cost, no commitment quotes for plumbing business loans.
  • Products – A Variety of Business Loans – We don’t just offer what we have; we deliver what’s available in the marketplace with an extensive network of third-party lenders.
  • Service – Excellent customer service and responsiveness with a high approval rate with credit decisions in just a few hours for most products.

Getting a business loan when you are in the plumbing business can be intimidating, but it does not have to be that way. At AdvancePoint Capital, we can find a small business financing solution that works with your plumbing business instead of against it. Go to our website to find a simple form to fill out and apply, then find out what your loan terms would be. Give our service a try today! 

*Advancepoint Capital has no government affiliation. We are not the SBA. Consult an accountant for questions about what products are tax-deductible. AdvancePoint Capital does not have an affiliate partner program*

The fast, convenient and straightforward way to get the capital you need for your plumbing company – now!

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