Industry data
Financing for plumbing and HVAC contractors: what the loan data shows
4,032 SBA 7(a) loans went to plumbing and HVAC contractors recently, at a median of $150,000. The lenders that make them, the terms they write, and what underwriters look at.
4,032 SBA 7(a) loans went to plumbing and HVAC contractors in the most recent fiscal years, at a median of $150,000 over 10 years. 25.1% went to new or under-two-year-old businesses, and the most active lender was The Huntington National Bank.
What a plumbing and HVAC contractor loan actually looks like
These are approvals, not advertised ranges. Computed from SBA 7(a) loan-level FOIA data released 2026-06-30.
| Measure | Plumbing and HVAC contractors | All 7(a) borrowers |
|---|---|---|
| Loans approved, fiscal years 2023 to 2026, using data released June 2026 | 4,032 | 214,102 |
| Median loan | $150,000 | $150,000 |
| 25th - 75th percentile | $51,700 - $400,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.25% | 10.25% |
| Share to new businesses | 25.1% | 33.6% |
| Charge-off rate, FY2010-19 | 6.4% | 7.1% |
What stands out
Reading these figures against all 7(a) borrowers:
- Loan sizes are typical. The median of $150,000 is within a few percent of the $150,000 national median across all 7(a) borrowers, so nothing about this market is unusual on size.
- This is a hard market for new businesses. Only 25% of these loans went to startups, against 34% nationally. If you are pre-revenue, work from the startup table below rather than the main list.
- No single lender dominates, but the top three made 26% of these loans, so the shortlist below covers most of the active market.
What lenders look at in this sector
Lenders like recurring service agreements far more than one-off installs. Truck and equipment financing usually belongs separately from your working capital facility.
Which lenders actually fund plumbing and HVAC contractors
Ranked by loans approved in this niche. The median, startup share and rate describe each lender's own loans to plumbing and HVAC contractors, not its national averages — which is how you spot a genuine specialist.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| The Huntington National Bank | 452 | $100,000 | 26% | 10.25% |
| U.S. Bank | 320 | $45,000 | 28% | 9.49% |
| TD Bank | 257 | $75,000 | 26% | 11.50% |
| Live Oak Banking Company | 226 | $390,000 | 15% | 10.24% |
| JPMorgan Chase Bank | 173 | $200,000 | 5% | 11.35% |
| BayFirst National Bank | 133 | $150,000 | 0% | 12.25% |
| Manufacturers and Traders Trust Company | 128 | $75,000 | 26% | 11.00% |
| United Midwest Savings Bank | 124 | $275,000 | 94% | 10.25% |
| Northeast Bank | 118 | $150,000 | 8% | 10.75% |
| Wells Fargo Bank | 106 | $25,000 | 72% | 12.00% |
Where these businesses borrow
Most active states for plumbing and HVAC contractors: California (466), Florida (369), Texas (302), New York (248), Ohio (212), Pennsylvania (163).
Which financing fits
| Product | Fit for this sector | Typical cost |
|---|---|---|
| SBA 7(a) | The dominant vehicle in this niche | 10.0% - 14.0% APR |
| Equipment financing | For the hard assets, often cheaper separately | 7.0% - 30.0% APR |
| Line of credit | For seasonality and payroll timing | 9.0% - 60.0% APR |
| SBA microloan | If you need under $50,000 | 8.0% - 13.0% APR |
| Business acquisition loan | If you are buying an existing operation | 10.0% - 14.0% APR |
Before you apply
- Check coverage first. Run the payment through the affordability calculator at 1.25x.
- Shortlist from the lender table, favouring ones whose median loan here is close to what you need.
- Assemble the documents — see the checklist.
- If you are buying rather than starting, read business acquisition loans first; the injection rules and diligence are different.