Noesis launched a promotional financing program to help accelerate sales for its partners. The company also announced the appointment of Capital One and Walmart veteran, Hiren Patel, as chief credit officer, who will lead Noesis’ new finance program.
Noesis’ promotional financing addresses a major obstacle in selling lights, chillers, boilers, building control systems and other commercial energy-saving equipment – nearly 70 percent of the purchases proposed do not get approved due to lack of budget. Noesis’ program aims to significantly increase project approval rates.
Noesis already has over 200 partners that use the Noesis marketplace to arrange equipment financing for a wide range of commercial and small businesses. With its new promotional financing, Noesis has worked out the logistics with its syndicate of lenders so that its partners can now offer things like 0 percent financing or zero-down/no payments for 6 months, for example.