- Funding
- $140K
- Product
- Equipment Term Loan
- Industry
- HVAC & mechanical
- Location
- Hamilton, ON
Winning the commercial contract by financing the gear to deliver it.
“We landed a commercial contract that needed a truck and gear we didn’t have. Thrivewell funded it fast, with payments timed to the work.”
Sullivan Mechanical had built a steady residential business, but the property-management contract Greg had been chasing for two years needed a service truck and rooftop-unit equipment the shop didn’t own. He didn’t want to win the contract and then scramble.
Thrivewell structured a $140,000 equipment term loan with a repayment schedule timed to the contract’s service-billing cycle, so the loan was funding work that was already generating revenue rather than sitting idle on the books.
“The bank wanted three weeks just to look at it,” Greg says. “Thrivewell gave me a clear number and the money in time to actually start the job.”
The contract is now the shop’s largest account, the new truck has paid for itself, and Sullivan Mechanical has grown from five technicians to nine.