AUSTIN, Texas, Oct. 14, 2015 /PRNewswire/ -- Noesis, the tech-enabled lending marketplace for financing energy-saving commercial building upgrades, today announced the rapid adoption rate of Payment Advantage, a financing program that provides payment and credit options to buyers of commercial energy efficiency (EE) equipment.
Through Payment Advantage's promotional finance, users increased their project close rate by 400 percent and saw a 60 percent decrease in the time it took to close a sale. By offering customizable promotional finance terms, with rates ranging from 3.9 percent to 4.9 percent, building owners were able to make decisions faster and secure financing more quickly for unbudgeted yet highly profitable EE projects.
"The initial success of Noesis' innovative credit program for commercial efficiency projects exposes a gap in lending for industrial small businesses," said Scott Harmon, chief executive officer, Noesis. "Payment Advantage solves this major pain point by rapidly increasing close rates on cash flow positive EE projects."
Noesis' Payment Advantage will greatly impact EE equipment buyers' purchase behaviors. While nearly $18 billion of EE equipment is sold annually, industry close rates are consistently less than 25 percent because many of these purchases are not required, but elective. Payment Advantage offers payment plans to accelerate these EE sales cycles and purchase decisions, with each option customized for specific project needs.
A Noesis partner, Seiberlich Trane Energy Services, recently won a bid from a Delaware-based church that needed to fix a broken boiler. The church did not have the budget to immediately fix the failed equipment. Upon reviewing several vendor proposals, the church selected Seiberlich as it was the only contractor to provide no-payments / no-interest for six months, through Noesis. Noesis was able to secure financing approval for the church in four days and deliver funding within two days.
"Noesis gives our clients financing options they need to complete a project rather than put it off for weeks or months," said Shawn Doherty, sales team leader, Seiberlich Trane Energy Services. "This unique payment program is a game changer for the commercial industry as it will significantly improve the purchasing decision process of EE equipment."
Noesis provides third-party investment and risk analysis, turnkey financing options and sales automation tools that are empowering commercial businesses to sell more equipment and grow their business. Noesis' 250 partners are on pace to propose over $1 billion in commercial equipment purchases in 2015 thought its online lending marketplace.
For more information, please visit www.noesis.com.
Noesis is a specialty online lending marketplace that helps the commercial building owners increase the value of their buildings. It does this by helping them make informed investment decisions in energy-related equipment, such as LED lights, and providing financing to upgrade their 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.
Noesis is used by local and national commercial building owners, as well as over 200 US commercial equipment and services companies who use the Noesis platform and lending marketplace to help them win more of their project proposals and grow their business.