Client Success Story -Solar Panels (Commercial Asset Loan)

14-07-2022
Client Success Story -Solar Panels (Commercial Asset Loan)
Renewable energy options such as solar panels can offer excellent long term cost saving measures to businesses with high energy requirements. Whilst the technology is improving, the initial cost can still be substantial.

Renewable energy options such as solar panels can offer excellent long term cost saving measures to businesses with high energy requirements. Whilst the technology is improving, the initial cost can still be substantial.

Background:

Our client, a production and distribution company, was looking to implement solar power throughout their business in order to save a substantial sum in operating costs over time.

Hurdle:

Solar panels are classified by most lenders as a secondary asset and there are a limited number of lenders who will consider them for finance, making them a more challenging asset to finance. In addition, of the lenders which provide policy for solar panels, it is often in exchange for much higher rates than usual commercial asset loans.

Solution: 

Our commercial consultant first point of order was to set expectations early with the client around rates and pricing to ensure the best customer experience possible and no surprises along the way. From here, our consultant used the breadth of our lender panel to workshop this deal and find the best outcome for the client.

Outcome:

Our consultant worked with a lender who is a common and efficient funder of secondary assets such as solar panels to secure financing for $30,000 in a reasonable timeframe and within the price expectations set for the client.

By discovering the needs of the client and setting expectations early to ensure a smooth customer experience, our consultants are then able to focus on finding the best solution for your business. As is often the case, the breadth of our lending panel enables us to provide solutions where others may see only obstacles.