In order for HVAC contractors to start offering financing, they have to find the right finance company, train their staff, and invest in understanding what financing means for their customers and company in order to make it profitable enough to outweigh any associated costs.
Synchrony, a consumer financing company, and LG Electronics USA’s Air Conditioning Technologies announced a multiyear partnership offering LG’s independent Pro Dealers a financing program to help homeowners purchase smart heating and cooling products.
Though the collapse of SVB primarily impacted businesses and investors within the tech center, HVACR contractors especially small business owners should take steps now to make sure their cash in the bank is safe.