Noesis financing service facilitates Titan LED commercial lighting project deals
Noesis, the tech-enabled lending marketplace for financing energy-saving commercial building improvements, has announced that Titan LED, the leader in advanced LED solutions for commercial building owners, has seen its deal approval rates increase by 40 percent. This increase is due to Noesis’ ability to simplify and facilitate the sales and lending process for its partners and their customers.
An INC 500 recognized company, Titan LED proposes over 7,000 commercial lighting projects per year, leading the industry with proprietary American made products. Signing up with Noesis in the fall of 2014, the company has already closed multiple commercial lighting deals using Noesis; half of which were financed with Noesis and the remainder were closed with the help of Noesis sales tools yet chose to use internal funds for the project.
“Titan LED’s success further underscores how our sales and financing platform is helping our partners increase their approval rates and grow their business,” said Scott Harmon, chief executive officer, Noesis. “Noesis’ seamless platform also simplifies and accelerates the lengthy, engineering-minded proposal process by providing crucial project investment analysis and a CFO-friendly business proposal.”
Noesis provides third-party investment and risk analysis, turnkey financing options and sales automation tools that are empowering companies such as Titan LED to increase project approval rates and grow their business. According to a recent Noesis survey, about 70 percent of commercial energy efficiency projects that are proposed do not get approved. There are three main reasons for why this happens: no budget, lack of trust in savings potential, and not meeting internal hurdle rates. Noesis helps its partners overcome these objections and close more sales.
Like any company, Titan LED knows that increasing deal closure rates is a key to growing their business, and they selected Noesis’ to help them do this. Specifically, Titan LED leverages Noesis’ 3rd Party Investment Analysis (called the 3IA), which provides an independent project analysis that addresses trust issues with building owners and offers the financing that lets them easily overcome budget constraints and internal hurdle rates that often limit the use of internal funds.
“Noesis’ third-party project evaluation has been crucial for our recent surge in approval rates,” said Glenn Dormer, vce president of sales, Titan LED. “Noesis is embedded into our workflow and has provided us with thorough and transparent project analysis and financing options that allow us to more quickly overcome sales objections and win deals.”
Noesis is a specialty Lending Marketplace that helps the commercial building owners increase the value of their buildings. It does this by helping them make informed investment decisions in energy-related equipment, such as LED lights and solar panels, and providing financing to upgrade their buildings, generate additional cash flows and increase property values. Noesis meets the needs of the owners of the 5 to 7 million non-residential buildings in the US through in-house project financing expertise, proprietary project valuation technology and a range of innovative financing vehicles.
Unlike traditional banks and asset-backed equipment finance lenders which focus on the credit score of a business or the value of an asset, the Noesis Platform combines business credit history with business financials, building value and energy savings into a single, combined lending score. The Noesis Project Score unlocks access to capital at more attractive rates and terms for building owners, and provides lower risks and higher returns for financial institutions.
Noesis is used by local and national commercial building owners, as well as over 150 US commercial energy equipment and services companies who use Noesis Platform and Lending Marketplace to help them win more of their project proposals and grow their business.
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