Rowanleaf Lenders passes the request on, and the partner that picks it up sets any terms.
Match the bill to the repayment shape: lump sum, revolving line, machine-secured financing, stock financing or a card-sales advance.
Is equipment financing a loan for Lexington County, SC HVAC contractors?
Often, yes. Under an equipment loan or finance agreement the contractor carries the balance as debt, with the machine standing behind it. A lease is different on paper, because the leasing company owns the unit during the term. For a heating and cooling shop pricing a refrigerant recovery machine or a second service van, the choice changes who owns the equipment and what happens at the end.
The equipment financing page compares loans, finance agreements, $1 buyout leases and fair market value leases.
What a merchant cash advance is, and why Lexington, SC HVAC contractors should compare it
In a merchant cash advance, a provider buys a slice of card sales the business has not made yet. It pays a sum now and collects an agreed total by holding back a share of card sales until that total is reached. Because it is not a loan, no interest rate applies; a factor agreed at signing sets the cost.
A contractor that takes card payments on service calls could be offered one. Comparing it with a line of credit or a working capital loan means putting the total collected next to the total interest on the loan. The merchant cash advance page shows how to do that arithmetic.
Secured vs unsecured business loan: how it works for Lexington, SC quick-service restaurants
A secured loan names collateral: a fryer line, a walk-in cooler, receivables, or a general lien on business assets. An unsecured loan names no specific asset, though a partner may still ask the owner for a personal guarantee. Secured terms can be longer because the partner has something to recover.
Burger, chicken and sandwich counters run with crews. Of 264 limited-service restaurants on a payroll in Lexington County, SC in 2023, a mere 34 were in the under-five size class (County Business Patterns, NAICS 722513). A kitchen with that kind of payroll can weigh whether pledging its equipment changes the terms it is offered.
Types of commercial loans Lexington County, SC HVAC contractors can compare
The table lays out each product by what it pays for and how it is paid back. "Commercial loan" here means business funding, not a loan on a building: real estate and mortgage loans are outside this site.
| Product | What it pays for | How it is paid back |
|---|---|---|
| Working capital loan | Crew payroll, parts and supplier bills between job payments | Fixed installments over a term of months the partner picks |
| Business term loan | A larger purchase: a second location, a book of business, a buyout | Fixed monthly payments over a longer term |
| Business line of credit | Costs that repeat without a fixed date | Interest on drawn dollars; each paydown reopens room under the limit |
| Equipment financing | Vans, recovery machines, lifts, fryers, chairs | Monthly payments; the equipment secures the deal |
| Inventory financing | Store stock, parts rooms, units held for jobs | Paid down as the goods sell |
| Merchant cash advance | A sum against future card sales | A provider holds back part of each card batch (not a loan) |
What a business term loan is, for Lexington, SC HVAC contractors
With a business term loan the whole amount arrives at the start, and equal installments then run for a fixed count of months. Each payment covers that month's interest and part of the balance, so the balance falls on a schedule both sides can see.
Illustration only, invented figures: a heating and cooling contractor borrows $60,000 for 48 months at an annual rate of 10.5%. The level payment works out to $1,536.20, and 48 of them total $73,737.60, so the interest on the schedule is $13,737.60. The term loan page covers what a partner can ask before offering one.
What is a business line of credit for Lexington County, SC HVAC contractors?
Think of a business line of credit as a borrowing ceiling that refills: the contractor takes what a job needs, pays it back, and the room returns. Interest accrues on what has been drawn, and the untouched part of the limit is not part of the balance. For a contractor, that can mean drawing for a compressor order on Monday and paying it back when the customer's check clears.
Two neighbors of the line on this site: a working capital loan for a one-time gap, and inventory financing for stock that will be sold. How a limit is set, drawn and renewed is laid out on the line of credit page, with a contractor example.
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