Commercial Roofing Financing Tips

Kathleen Maxwell

Buying a new commercial roof or repairing an existing one can bring daunting expenses for any company. However, facility managers in need of a new roof or costly repairs can’t always wait around for money to appear in the budget. Maxwell Roofing & Sheet Metal, Inc. understands how challenging it can be to pay for a commercial roof, so we developed a few tips for preparing your company’s budget for different types of roofing needs.

Before we get into the best ways to pay for a new commercial roof or roof repair, it’s important to note that the best way to avoid costly repairs is through regular roof maintenance. Also, for tips on how to plan for routine repairs, check out our blog on how to budget with your commercial roof in mind.

If it’s too late to save your roof, or if you’re constructing a new building, there are many low-cost financing options to help pay for a new commercial roof or fund an unexpected repair. Here’s how financing can help support the big expense.

How Financing Your Roof Can Help Your Business

Financing is usually more of a necessity than a choice, but there are a number of ways financing a roof can benefit a business.

  1. Maintain Cash Flow—Instead of dedicating a huge chunk of an operational budget to a roof, financing can defray many of those initial costs and give facility managers more flexibility in the budget.
  2. Facilitate Budget Planning—Financing breaks down the entire cost of a commercial roof into simple monthly payments. These payments are predictable, enabling facility managers to factor them in well into the future.
  3. Upgrade Your Roof—Financing a commercial roofing project or repair gives companies the option of buying something better than they could otherwise afford. Upgrading to a higher quality roof could save money down the line in repairs and maintenance.
  4. Get What You Need Now—Financing helps companies get the roof or repair they need immediately rather than waiting for funds to become available. With financing, businesses get an immediate return on investment even before the roof is paid off.
  5. Get a Tax Deduction—In many cases, interest on loans can be written off as a business expense, lowering your taxes.

While financing a commercial roofing project can provide many benefits to a business, there are some cons. Here are the negatives to taking out a loan to pay for a roof:

  1. Down Payment—Many commercial roof loans require that the company come up with some sort of down payment. While this money will only be a fraction of the total cost of the roof or repair, it can still be a significant expense.
  2. Interest Payments—Like any business loan, financing a commercial roof will require the company to pay interest on the loan, making the project more expensive overall.
  3. Eliminates Early Payment Discounts—Financing may make a roof project ineligible for an early payment discount with some roofing companies.

How to Finance a Commercial Roof

Once you’ve weighed the pros and cons and decided to finance your roof project, it’s time to consider different types of financing. Here are just a few of the options:

  1. Financing through PACE—Some roofing projects may be eligible for financing through a property-assessed clean energy program, or PACE. PACE loans give commercial and residential building owners low monthly payments and options to defer payments on projects that improve building efficiency or add storm damage protection. These programs vary from state to state and may not be available to every customer.
  2. Bank Financing—The most common form of roof financing is through a bank or qualified lender. This type of financing is credit-based, and interest rates will differ from customer to customer.

Once you have financing secured, contact Maxwell Roofing & Sheet Metal, Inc. to get started on your commercial roof.


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