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Commercial HVAC

Chiller and Cooling Tower Financing

A chiller plant is usually the most expensive piece of mechanical equipment a building owns. It cools hospitals, data centers, universities, hotels, and manufacturing lines, and when it goes down in summer, the cost of lost business can dwarf the price of the machine.

Chiller projects also involve cranes, structural review, piping, and electrical work, so the total often runs well beyond the equipment quote. Financing lets you plan a replacement on your terms, before a failure forces a rushed rental and an emergency order.

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Programs that fitEFAEquipment LoanSBA Loans

Chillers and Cooling Towers We Help You Finance

  • 01

    Air Cooled Chillers

    Air cooled chillers reject heat directly to outdoor air with fans and condenser coils, so they don't need a cooling tower or water treatment. Schools, clinics, and mid size office buildings like them for simpler maintenance. They typically sit on a roof or a pad, which means you'll want to check structural loading, sound limits near neighbors, and clearance for airflow. Scroll and screw compressor models suit different sizes, and many newer units offer variable speed drives for better part load efficiency. Refurbished air cooled chillers exist, but verify compressor rebuild records and refrigerant type before you buy.

  • 02

    Water Cooled Chillers

    Water cooled chillers sit indoors in a mechanical room and send heat to a cooling tower through condenser water. They are the workhorses of hospitals, campuses, and large office towers because they run more efficiently at large capacities and last a long time. Centrifugal and magnetic bearing models dominate the larger sizes. When buying, look at full load and part load efficiency, how the unit fits through existing openings, and whether you need a knockdown shipment. Many owners pair a new chiller with a controls upgrade so the whole plant runs smarter.

  • 03

    Cooling Towers

    A cooling tower removes heat from condenser water by evaporating a small amount of it. Towers take a beating from weather, scale, and biological growth, so replacement or a major rebuild is a normal part of plant ownership. Buyers choose between open and closed circuit designs, galvanized, stainless, or fiberglass construction, and crossflow or counterflow layouts. Consider variable speed fans, drift eliminators, and easy basin access for cleaning.

  • 04

    Pumps

    Chilled water and condenser water pumps keep water moving between the chiller, the tower, and the coils throughout the building. Hotels, hospitals, and district plants often run multiple pumps with a standby for redundancy. When replacing pumps, many owners switch from constant speed to variable speed with drives, which can cut energy use significantly. Look at end suction versus split case designs, motor efficiency, and seal type. Pumps are a common add on to a chiller project, so fold them into the same financing request.

Why Finance Chillers Instead of Paying Cash

A plant replacement can consume years of saved capital in a single project. Financing preserves that cash for tenant work, operations, or the next system that needs attention.

It also lets you replace the chiller before it fails instead of after, which avoids emergency rental chillers and overtime labor. Keeping your bank credit lines open gives you room for surprises during the project. New equipment may also qualify for Section 179 deductions; check with your tax professional.

What Your Financing Can Include

Depending on the lender, chiller and tower financing may cover:

  • Crane service, rigging, and structural reinforcement
  • Condenser and chilled water piping, valves, and insulation
  • Electrical service upgrades, starters, and variable frequency drives
  • Water treatment systems and tower basin work
  • Plant controls, commissioning, and refrigerant recovery from the old unit
  • Temporary chiller rental during the changeover

Programs That Work Well for Chillers

  • Program

    SBA Loans

    Government backed loans up to $5MM for larger projects, a good match when a plant upgrade is part of a building purchase or expansion.

New Business or Established, We Can Help

Buying a building with an aging plant or opening a new facility that needs process cooling? Equipment financing is available from day one, even for startups. Established owners can finance a single tower rebuild or a full plant. See all our options on the commercial HVAC financing page, and consider building automation financing to control the new plant.

What You'll Need

Requests under $150K, such as a pump package or small air cooled chiller, can often be approved on the application alone. Larger plant projects usually call for financial statements, which strengthen the request. Funding can often finalize with just a driver's license and the equipment invoice or contractor quote.

Frequently Asked Questions

Still have a question?

Talk to a real person. We're happy to walk you through your options.

Can I finance a chiller replacement plus all the installation work?

Often, yes. Many lenders include rigging, piping, electrical upgrades, and startup in the financed amount. Send the full mechanical contractor proposal so we can match you with lenders that cover soft costs.

Should I replace my air cooled chiller with a water cooled system?

It depends on your building size, water costs, and maintenance staff. Water cooled plants often run more efficiently at large capacities, while air cooled units are simpler to own. Your engineer can compare the two, and we can finance either path.

Can I finance a cooling tower rebuild instead of a full replacement?

Many lenders will finance major tower rebuilds that include new fill, fans, motors, and basin work, especially when a contractor provides a detailed quote. Share the scope and we'll find out which lenders fit.

What if my chiller fails in the middle of summer?

Apply right away. We submit your application to lenders immediately, and smaller requests may be approved on the application alone. Some lenders can also include a temporary rental chiller in the project.

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