Financing Accelerator Updates – Summer 2024

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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
  • Create a compelling estimate with a down payment: Model net savings from day one for projects where the incentives are not sufficient to achieve that. Showcase the ROI of the down payment over the lifetime of the assets.
Benefits for commercial customers 
  • Immediate cash flow positivity: Down payments help achieve cash flow positivity from day one, making the investment more attractive.
  • Investment justification: Detailed estimates showing net savings and ROI over the lifetime of the assets help justify the investment.

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.


Join us for our upcoming webinar with OpenSolar to learn about crucial factors for cash flow positivity in commercial solar projects. Don't miss out on a live demo of the EnPowered platform and its innovative Apply tool, equipped with AI to simplify commercial financing applications.
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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
  • Simplified application process: A more intuitive design means faster completion times and fewer errors.
  • Reduced follow-up: AI integration minimizes the need for follow-up requests for additional information, leading to a more seamless and hassle-free experience.
Benefits for commercial customer
  • Enhanced customer experience: Instant AI-driven follow-ups reduce the need for customers to search for additional documents later in the process, leading to a smoother and more predictable experience.

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.

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