Become an Installer
Ever feel stuck trying to figure out how to pay for your next business expansion?
You’re not the only one. The challenge isn’t wanting to expand. It’s finding the right way to pay for it without draining your cash reserves.
Here’s the good news: you have more options than you might think. Grants, equipment leasing, and smart financing strategies can all help you get the tools and capital you need to grow.
Exploring Grants for Installers
Grants are one of the most powerful funding tools available because you don’t have to pay them back. That’s a huge advantage for your initial cash flow when launching a contracting business.
Governments, non-profits, and industry associations actively support entrepreneurs entering the skilled trades. While direct grants for equipment are rare, funding is readily available for training, working capital, and businesses owned by specific groups.
Navigating Deadlines and Local Programs
Finding funding requires strategic planning, as most programs operate on a strict schedule.
Local Economic Development: Many cities and counties offer targeted grants to small businesses that invest locally and create jobs. Look for programs designed to support small business investment in specific commercial or industrial zones.
The Application Window Matters: Grants are not offered year-round. Missing a deadline means waiting for the next cycle. Check federal opportunities on Grants.gov and state/local economic development sites for strict submission calendars.
Leasing Options for Equipment and Expansion
If you need new equipment but don’t have the cash to buy it outright, leasing is a smart alternative.
Nearly 80% of U.S. companies lease some or all of their equipment, according to 2024 data. That’s because leasing lets you access the tools you need without a massive upfront investment. Your monthly lease payments are predictable, which makes budgeting easier. Many leasing agreements also include maintenance, so you won’t get hit with surprise repair costs.
The Tax Benefits Are Real
Here’s where leasing gets even more attractive: the tax advantages.
With an operating lease, your monthly payments are 100% tax-deductible as a business expense. That’s different from buying equipment, where you have to depreciate the cost over several years. According to the IRS, operating lease payments directly reduce your taxable income, which can save you thousands of dollars each year.
Let’s say you lease $50,000 worth of equipment. In a 35% tax bracket, you could generate around $18,597 in tax savings over a 36-month lease term. That’s money you can reinvest in your business.
When Leasing Makes the Most Sense
Leasing works best in a few specific situations:
- You need equipment immediately but don’t want to drain your cash reserves
- The technology changes quickly, and you want the option to upgrade every few years
- You want to keep equipment debt off your balance sheet to maintain a healthier financial profile
- You’re unsure about long-term demand and want flexibility
At the end of your lease, you typically have three choices. You can return the equipment, extend the lease, or buy it at fair market value. That flexibility is a big reason why so many contractors choose leasing over buying.
Smart Financing Strategies
Leasing is great for equipment, but sometimes you need flexible working capital for payroll, inventory, or unexpected expenses.
That’s where revolving credit lines and equipment loans come in. These financing options give you the breathing room to take on larger projects, hire additional staff, or weather slow periods without panic.
Revolving Credit Lines
A revolving line of credit works like a business credit card. You’re approved for a maximum amount, and you can borrow what you need, when you need it.
Most small business lines of credit range from $10,000 to $250,000, depending on your creditworthiness and revenue. Generally, you only pay interest on the amount you actually borrow, and as you repay the balance, your available credit replenishes.
Let’s say you have a $50,000 line of credit. You draw $15,000 to cover payroll during a slow month. Once you get paid by your customers, you repay the $15,000, and your full $50,000 is available again. It’s a financial safety net that keeps you operational even when cash flow is tight.
Where to Get the Best Approval Rates
Not all lenders are created equal. According to the 2025 Small Business Credit Survey, small banks have the highest approval rates at 54%, compared to large banks and online lenders.
Credit unions also perform well, with approval rates around 51%. If you’ve been turned down by a big bank, try applying at a local community bank or credit union. They tend to focus more on relationships and local impact, which can work in your favor.
Equipment Loans vs. Lines of Credit
If you know exactly what equipment you need and how much it costs, an equipment loan might be a better fit than a revolving credit line.
Equipment loans are secured by the equipment itself, which means you don’t need to pledge other business assets as collateral.
Here’s a quick comparison:
| Financing Type | Best For | Typical Approval Rate | Interest Rate Range |
| Revolving Credit Line | Ongoing cash flow needs | 54% (small banks) | 8% to 14% |
| Equipment Loan | Specific equipment purchases | 65% (for smaller loans) | 7% to 13% |
Don’t just accept the first offer you get. Different lenders have different risk appetites, and you might find significantly better terms by comparing three or four options.
Conclusion
Grants, leasing, and smart financing give you powerful tools to fund your next expansion.
The right choice depends on your specific situation. Grants are ideal if you qualify and can wait through the application process. Leasing works best when you need equipment now without tying up cash. Revolving credit lines and equipment loans provide flexibility for growth and day-to-day operations.
Smart choices today set up success tomorrow. Your next step could bring stronger market development and more solar adoption for your company.