As a result, financial companies can no longer do without solar energy. PowerPay is the latest fintech company to enter the mix, launching a new technology platform to target potential solar home customers and streamline the lending process.
PowerPlay says the new platform allows consumers to receive instant loan decisions while offering a full range of loan options for consumers with FICO scores of 500 to 850. The technology took two years to develop. with the primary purpose of making the merchant lending process easier and faster. to process point-of-sale loans at home or in the office.
PowerPay can also offer better prices for its no-fee merchant programs and promotional products that include 12, 18, 24 months interest-free, no payment periods and new verticals. Loan terms range from 6 months to 25 years with maximum loans of $100,000. The technology also enables improved reporting, funding transparency, data analytics and scalability to compete with domestic financial institutions.
“While our legacy software has helped us grow rapidly over the past two years, our new technology platform dramatically enhances our ability to scale our current programs while adding exciting new verticals like healthcare, solar and motorsports,” said Michael Petrakis, CEO of PowerPay. “It’s 100% about making life easier for our merchants and their customers while paving the way for future growth.”
Have you checked out our YouTube page?
We have a ton of video interviews and additional content on our YouTube page. Recently we debuted Power forward! — a collaboration with BayWa re to discuss high-level industry topics as well as best practices/trends for running a solar business today.
Our longer side project is Field — in which we have awkward discussions with solar manufacturers and suppliers about their new technology and ideas so you don’t have to. We’ve discussed everything from trackless residential bridge fixing and home solar financing to large-scale energy storage value stacking and new utility-driven solar and home storage microgrids.
We also publish our project announcements for the year! Interviews with this year’s winners will begin the week of November 8. Go ahead and subscribe today to stay up to date with all that extra stuff.