We are excited to announce several new updates to our Financing Accelerator, the go-to platform for clean energy contractors wanting to offer easy-to-access financing options to their commercial customers.
Read on to learn more about the latest enhancements to our Estimate and Apply tools, and how these updates can benefit you and your customers.
Updates to Estimate Tool
The Estimate tool lets you create instant financing estimates to improve your sales pitch. Cash flow positivity from day one is an important requirement when selling into the commercial space but the available incentives are not always sufficient to achieve cash flow positivity from day one.
Including a down payment has become a common strategy in structuring financing proposals to achieve cash flow positivity. To support clean energy contractors with that approach we’ve integrated a new feature into our Estimate tool that lets them add down payments to their financing estimates.
| Benefits for clean energy contractors |
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| Benefits for commercial customers |
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Watch a short video about the new down payment feature here.
New Feature in Estimate
| Down Payment |
We’ve added a Down Payment input field on the Basic Project Values tab. The down payment is deducted from the cumulative savings at the beginning of the term to accurately model the customer’s overall cash flow. |
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Updates to Apply Tool
We continue to simplify the commercial financing application process. Our latest updates to the Apply tool introduce a new user experience along with several key improvements to further integrate AI into the workflow, reducing unnecessary back-and-forth between customers, clean energy contractors, and the financing provider.
| Benefits for clean energy contractor |
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| Benefits for commercial customer |
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Watch a short video about the new Apply features here.
New Features in Apply
| Business Name Check | We now verify the legal business name against legal entity databases to ensure due diligence is conducted on the correct company. |
| Basic Underwriting Checks | We’ve implemented a feature to detect trends in customers’ financial statements, such as increases in debt or decreases in revenue, prompting for more context when necessary. |
| Personal Guarantee Request | We will request personal guarantees under specific conditions such as a net loss, companies operating for less than three years, and closely held S Corporations or LLCs with pass-through taxation. |
| Property Ownership Clarification | Verifying property ownership and ensuring agreement to equipment installation on the property is now a standard check. |
These updates are designed to enhance your sales pitch with a cash flow positive financing option from day one. Additionally, they streamline the commercial financing application process for all stakeholders involved. We invite you to explore these new features and see how they can benefit your business.
If you’re not an EnPowered partner yet and want to learn how Financing Accelerator can help you close more clean energy deals, contact us to schedule a demo.