Triple option loan for rooftop solar projects

15 Sep 2019

EnerBank USA ‘s new Triple Option Loan is 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 a 12- or 18-month no-payment period and three re-amortizations of principal and interest over the life of the loan, providing homeowners flexibility in choosing how they want to pay for their projects. 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. With the new Triple Option Loan, contractors have an additional choice in financing options they can offer their customers, helping them grow their businesses in the process.

EnerBank USA | http://www.enerbank.com

 

 


Volume: 2019 September/October