PowerPay, a financial technology firm in Philadelphia, United States that offers consumer loans for home improvement and elective health, has announced the launch of a program to finance solar energy.
Demand for sustainable energy sources is growing at an alarming rate. These projects are expensive to start and require a lot of labor. PowerPay financing products enable consumers to convert large purchases into smaller monthly payments. The entire project can be funded, including the solar panels, roof, generators and roofing. There are two options for loans: a 20-25 year loan with rates starting at 2.99%, and a maximum of $100,000. The solar financing program by PowerPay will enable homeowners to lower their electricity bills, increase their home’s value and protect the environment.
David Haas, PowerPay co-founder and COO said, “We are really excited to get into the solar business. Many of our home-improvement clients have solar already and are eager for us to launch this program. This market is large and growing. We have developed a seamless platform for lending, created a loan product that is extremely competitive and charged the lowest fees in the industry. We see tremendous opportunities to increase market share and make solar a multi-million dollar vertical”.
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