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AEC Provides $5MM Factoring Facility for Solar System Provider

July 10, 2017, 07:00 AM
Filed Under: Energy

Advanced Energy Capital provided a $5,000,000 financing facility for a residential and commercial solar system provider and installer giving the company working capital to grow.

Founded in 2010, the Company, with their roots in construction, is now a leading provider and installer of residential and commercial solar systems. Without the need to rely on subcontractors, they have been providing clients with rapid and flexible renewable energy solutions.

Financed by a local bank and experiencing rapid growth, this west coast solar company was restricted by the cap on its bank line. It needed a financier who was willing to ‘bet on its success' and would not inhibit its ability to meet the demand in the market. Further complicating the situation, their residential clients rely almost exclusively on third party financing which made it difficult to navigate the traditional factoring and asset based lending market.

After reviewing the business, AEC provided the company with a $5 million factoring facility that covered their extensive and diverse debtor book consisting of a myriad of third party finance companies and thousands of consumers. A solution not generally available to businesses of this size. This enabled the client to both pay off their incumbent lender and use the additional availability to successfully meet the demand in the market.

"AEC quickly understood the nature of the business, its invoicing procedures and the need for additional availability under the facility. AEC was uniquely positioned to help this client and we look forward to a long and prosperous relationship," said Steven Feldman, Managing Director at AEC

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