Small business entrepreneurs have felt the pandemic’s financial burden especially hard as 30 million small businesses accounting for nearly half of the U.S employment. However, HVAC companies have proven particularly resilient due to their essential nature.
While the Contracting segment saw a deep decline that bottomed out in April, by June year-over-year growth in new jobs scheduled and revenue rebounded by June, according to the Home Service Economic Report: Spring Edition. Even with the HVAC market’s quick rebound, cashflow can still be an obstacle for many companies whether they are looking to maintain operations or even grow.
To help HVAC companies, Jobber, the provider of home service management software, has expanded its partnership with technology platform Stripe to offer flexible financing and instant payouts to its customers in North America.
Better operating of HVAC businesses
"Cash flow is critical for small businesses as they respond to changing circumstances," says Sam Pillar, CEO & Co-founder, Jobber. "This could mean investing in equipment to take on a new type of work or plugging a receivables gap to meet payroll. We're excited to extend our partnership with Stripe to offer our customers capital and real-time access to funds so they can take on more jobs and better operate their businesses.”
The home service category is going through a phase of increased technology adoption. By investing in technology to make it easier for HVAC to grow with access to flexible financing, companies have the opportunity to receive the capital needed to invest in new equipment and increase inventory to meet customer needs, especially as summer high temperatures boost demand for repairs and system replacements.
Quicker application process
Jobber is launching instant payouts, powered by Stripe and Visa Direct
With no lengthy application process, eligible businesses can easily access capital directly in the Jobber dashboard and repay the financing with a fixed percentage of daily sales.
A valuable option for growing HVAC businesses, the flexible financial with Stripe Capital gives this industry, which is filled with labor shortages and large capital investments for equipment, the help it needs to ensure new jobs aren’t turned down due to a lack of working capital.
In addition, Jobber is launching instant payouts, powered by Stripe and Visa Direct, so that HVAC customers can receive the funds they’ve earned within seconds. Currently, when customers make an online payment, it takes approximately two business days for funds to reach a business’ bank account. Instant payouts eliminate that 48-hour window. With one click and in a matter of seconds, funds from a job land in a business’ bank account, even on weekends and holidays.
Integration with Stripe
To date, businesses using Jobber have serviced over 10 million people
To date, businesses using Jobber have serviced over 10 million people, delivering more than $6 billion annually, and growing, in services to their clients. Of those businesses, many use the credit card processing solution Jobber Payments, powered by Stripe, to help them quickly accept contactless, online payments easily at every stage of a project, without the need to write a single line of code or integrate with a separate payment gateway.
Now, Jobber is driving the new era of software platforms to expand beyond making payments a seamless part of their product, by also offering financial services to their customers.
Home services businesses
“Homeowners increasingly expect a seamless and immediate commerce experience from their home service provider, one that allows them to pay with the click of a button,” explains Laura Collinson, Director of Fintech, Jobber. “Jobber’s integration with Stripe allows our customers to offer an incredibly smooth customer experience, giving them a real advantage even against much larger competitors and our expanded partnership will only continue to enhance capabilities that benefit both home services businesses and their customers.”
