World News: 16:34 GMT Tuesday 3rd December 2019. [EnerBank via Businesswire via SPi World News]
, the national consumer lender that helps strategic business partners and independent home improvement contractors increase their sales, recently announced four new Triple Option Loan terms for contractors to offer homeowners who are installing solar panels and expect to receive income tax incentives, rebates, and/or other significant payments. The new loan features additional options with 12- or 18-month no-payment periods and three re-amortizations of principal and interest over the life of the loan, providing homeowners the ultimate flexibility in choosing how they want to pay for their projects.
The additional loan terms and rates are as follows:
No Payment Period
During the 12- or 18-month no-payment period, customers are not required to make payments on the loan. If the entire principal amount is paid off before the expiration of the no-payment period, all accrued interest is waived. After the no-payment period, the loan is re-amortized, followed by two more re-amortization events each May of the following years. This allows homeowners the option to apply rebates, bonuses or tax refunds to reduce the amount of their monthly loan payment.
“When solar contractors offer the Triple Option Loan, it's a win-win for both the contractor and the homeowner,” said Charlie Knadler, president and CEO of EnerBank. “As a result of the popularity of our original Triple Option Loan terms and feedback from our customers, we’ve expanded our terms to provide even greater flexibility.”
For more information about the new Triple Option Loan, or to learn more about EnerBank, visit us attoday.
About EnerBank USA—America’s home improvement lender of choice
EnerBank USA® is the largest specialized home improvement lender in the country, providing unsecured home improvement loans through strategic business partners and independent home improvement contractors. We are FDIC insured and work hand-in-hand with manufacturers, distributors, franchisors, and major retailers of home improvement, remodeling, and energy-saving products and services. Our mission is to grow contractors’ businesses by increasing sales leads, sales close rates, average job size, and referrals, while helping homeowners fulfill their home improvement dreams. We also make receiving lending approvals and funding requests quick and easy through our Mobile Loan App. We’re America’s home improvement lender of choice. Learn more at.
Business Wire: 16:34 GMT Tuesday 3rd December 2019
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