AUSTIN, Texas, Feb. 10, 2015 /PRNewswire/ -- Noesis, the tech-enabled lending marketplace for financing energy-saving commercial building improvements, today announced that it has closed out 2014 with rapid growth that has continued through January 2015. Over the past year, Noesis has grown its base of partners by more than 10 times and now exceeds 150 companies who sell energy-saving equipment and services to commercial building owners, including over 70% of regional Trane independents and dealers. Noesis is currently adding new partners to their platform at an average of two signing up every week.
Over $10 Million Weekly Proposal Run Rate Since the start of 2014, Noesis partners have created over 700 financing proposals representing over $300 million on the Noesis marketplace, and now trending over $10 million weekly and predicts an estimated $1.1 billion in financing proposals in 2015. According to a study by Navigant Research, commercial building owners will invest $960 billion globally between now and 2023 to retrofit existing facilities with energy-efficient technologies.
"Our rapid growth further underscores the need for tech-driven lending innovation across the commercial real estate sector," said Scott Harmon, chief executive officer, Noesis. "Noesis is committed to providing the critical financing necessary to implement energy-saving upgrades that increase both net operating income and the value of the buildings themselves."
Highlights from Noesis' growth:
Lighting is the most popular technology for building improvements, with 340 financing proposals to date with an average IRR of 40%; Noesis has closed financing for lighting projects with such companies as Enviro-Lite, Titan LED and Evolved Lighting.
Financing proposals for heating, ventilation and air conditioning (HVAC) increased throughout the year as regional Trane independents signed up for Noesis' service.
Commercial solar financing proposals have also increased throughout the year, currently representing 30% of total project value in Noesis' marketplace.
Top five building types of the total projects are retail, office, lodging, industrial and education.
"Initially what attracted us to Noesis was their lending platform, however as our relationship grew we found that they also had a streamlined sales process that was highly effective in allowing us to close more deals," said Zach Griffin, Evolved Lighting Solutions. "This process helped reduce our sales cycle from months to weeks."
Noesis simplifies and facilitates the sales and lending process for its partners and their customers, using its web-based platform for project evaluation and providing its tailored financing products for commercial energy projects.
ABOUT NOESIS Noesis is a specialty Lending Marketplace that helps commercial building owners increase the value of their buildings through informed investment decisions in energy-related equipment, such as LED lights and solar panels. The company provides financing to building owners to upgrade buildings, generate additional cash flows and increase property values. Noesis meets the needs of the owners of the 5 to 7 million non-residential buildings in the US through in-house project financing expertise, proprietary project valuation technology and a range of innovative financing vehicles.
Unlike traditional banks and asset-backed equipment finance lenders which focus on the credit score of a business or the value of an asset, the Noesis Platform combines business credit history with business financials, building value and energy savings into a single, combined lending score. The Noesis Project Score unlocks access to capital at more attractive rates and terms for building owners, and provides lower risks and higher returns for financial institutions.
Noesis is used by local and national commercial building owners, as well as over 150 US commercial energy equipment and services companies who use Noesis Platform and Lending Marketplace to help them win more of their project proposals and grow their business.