07/08/2026
There is one number that tells you whether an HVAC acquisition works before you look at anything else.
It is the gross profit from the maintenance agreement book — the recurring revenue that comes in whether or not the technicians are running calls that day. In a well-run HVAC business, that number alone covers approximately 111% of annual SBA debt service. If it does not, the rest of the model will not save the deal.
The HVAC / Home-Services Acquisition & SBA Underwriting Financial Model is built for a self-funded searcher or buyer using an SBA 7(a) loan to acquire a residential or light-commercial HVAC company. Revenue is built bottom-up from the maintenance book first — then service/repair and install. The model includes three HVAC business profiles, a seller-note standby lever, a DSCR sensitivity grid across multiple entry multiples and interest rates, a technician-capacity sanity check, a debt-yield cross-check, and sourced 2025–26 HVAC benchmarks for multiples, margins, and SBA terms.
Ten sheets, fully Google Sheets-compatible, machine-verified formulas, 20-page PDF user guide included.
If you are underwriting an HVAC acquisition right now — what is your recurring book's gross profit as a percentage of projected debt service?