New ‘Quick Working Capital’ Offers Contractors a Broad Range of Financing Options to Sustain and Grow Solar and Energy Efficiency Pipelines
Pleasanton, CA, July 13, 2015 – Meeting demand within the solar, energy efficiency and other distributed energy markets, ENACT Systems and RapidAdvance have partnered to offer working capital to energy services contractors using ENACT’s distributed energy sales and financing workflow automation platform. Called “Quick Working Capital” the solution allows ENACT users with growing project pipelines for distributed energy projects access to loans, cash advances and lines of credit from $5,000 to $500,000, within 72 hours of application, with limited paperwork.
“Residential and commercial solar and energy retrofit projects have long sales and installation cycles, and contractors often limit their growth potential due to slow cash-flow. Through our partnership with RapidAdvance now, contractors can unlock rapid access to working capital funds, based on their business pipeline on ENACT”, said ENACT Co-Founder and CEO, Deep Chakraborty.
ENACT’s end-to-end business process automation solutions empower thousands of distributed energy services businesses to automate their sales, distribution, financing and installation processes for solar and energy efficiency. Users on the platform frequently experience lower customer acquisition, operational and financing costs. Since it’s launch in 2014, the ENACT user base has grown 300%.
“ENACT is committed to advancing the distributed energy marketplace, especially for regional and local installers,” said Chief Revenue Officer Mark Cerminaro of RapidAdvance. “We’re excited to be partnering with ENACT to bring greater financial predictability and stability to its growing installer base.”
A free trial of the ENACT system platform can be found at http://enact-systems.com/
About Enact Systems Inc.
ENACT’s SaaS platform provides end-to-end business process automation solutions for distributed energy developers, installers, and investors. ENACT’s functional SaaS marketplace is focused on lowering customer acquisition, operational and financing costs, while enabling incremental revenue growth for all stakeholders. ENACT SYSTEMS is headquartered in Pleasanton, CA, with an office in Bangalore, India.
Bethesda, Maryland based RapidAdvance is one of the leading finance companies in the online marketplace for small business capital. Rapid is part of the Rock Ventures Family of Companies that includes Quicken Loans, the Cleveland Cavaliers and other companies. RapidAdvance has provided over $700 million in capital to tens of thousands of small business owners. The company is A+ rated by the Better Business Bureau.
Lisa Ann Pinkerton