Rich Hessler Solar Residential Unsecured Loans

Residential Loans FICO 560+ | Unsecured | Non-Recourse


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14 Facts

  1. Appropriate for Solar & other green home upgrades. We will typically approve 3 out of 4 customers.  That’s a 75% approval rate!
  2. We go down to a 560 credit score.  This means that a) you will get more customers approved, and that b) you can MARKET to a NEW CUSTOMER BASE.
    1. Big Banks are typically not approving customers below a 720 credit score!
  3. We are a CLOUD BASED LENDING solution!  This means NO Terminals, NO Lease (ALL Month To Month), NO Hardware, and NO Software.  All you need is an Internet Connection.
  4. We will have 100% of the funds in your businesses account within 72 hours (typical is 48 hours). 
  5. There is NO risk, NO reserve, and NO Financial Recourse to the business owner for offering our loans.
  6. We teach you how to sell on PAYMENT rather than PRICE, which will help you close more business.
  7. Our interest rates vary based on credit risk and can range from 8.99% to 19.99%.  These rates are FIXED rates.  Additionally, there are NO balloon payments, NO cosigner or guarantor fees, and NO prepayment penalties. Big Banks will charge as high as 26.99%.
  8. We have a promotional offer on each and every single loan we make.  These offers can include 0% APR for 12 Months and No Payments for 90 Days.  EVERY SINGLE LOAN HAS A PROMOTIONAL OFFER, NO MATTER HOW BAD THE CREDIT PROFILE.
  9. We create a custom link for your website where you can have your own online credit application, and a button saying “Apply For Financing.”  Then, when a customer is approved, you receive an electronic notification within the Lending System along with the customer’s information, approval amount and interest rate.  You can then contact the customer and close the sale.
  10. Our loans are in the amounts of $1,000 – $30,000.  We have terms of 48-72 Months.
  11. Our loans are no money down, which is great for the homeowner.  You can point this out to each and every prospect.
  12. We have nearly $2.8 Billion ready to lend and that fund is constantly growing.  You are working DIRECT with a private financing source.
  13. Proudly serving clients since 2006

Here are some great facts about the consumer financing industry as well:

  1. Less than 10% of consumers use cash or check for purchases over $700.00.
  2. 32% of consumers don’t own a credit card and 68% of US credit card holders are within less than 5% of their available credit limit.
  3. Only 33% of US consumers are considered as prime, meaning they possess a credit score of 740 or greater.   

residential solar financing

1. Do I have recourse on the loans?

A: No all loans are non-recourse

2. What is the minimum loan amount?

A: $1,000.00 minimum. $30,000 maximum.

3. Does the customer have to have good credit?

A: No there are several lenders each with their own guidelines. Here is an example of what to expect. With a score of 600 and a debt to income ratio of 55% and a total household income of $1500 we have a 75% chance of placing this file, below the percentage drops much lower but still not impossible.

4. Why are there such big discounts on some customers?

A: Since there is no recourse to you, the lenders base the discount on the risk, so the riskier the loan the higher the discount needed to mitigate the risk.

5. Does this go on my customer's credit?

A: Yes- all three credit reporting agencies are notified and if the customer takes care of his payments this will reflect well on his or her credit.

6. What marketing and sales support do you offer?

A: You will have access to the follow tools to support your marketing and sales efforts:

  • Phone Scripts
  • Cheat Sheet to use when making cold calls
  • Email Scripts
  • Presentation Material
  • Business Applications
  • Credit Applications with website plug-in
  • Client Leave Behinds
  • Memory Jogger Document
  • Letter Templates
  • Instructions on what to do after closing the deal
  • Login information for a Demo Website
  • Contact information for support staff
  • Information to attend training calls
  • Video Training
  • Recorded team training calls

7. How does the Same-As-Cash option work?

A: Borrowers are required to make their monthly payments during the same-as-cash period. 100% of payments are applied towards the principal balance if the loan is paid-in-full during the same-as-cash period.

8. Why do businesses have to pay a $399 activation fee and a $29.95 monthly service fee?

A: As we all know cheap things are rarely good and good things are rarely cheap. We put a lot of extras in this program, and give a customer service level we hope you enjoy, and marketing materials and add-ons for your website; all this comes at a great expense. Furthermore, we are different than anything else out their, in other words, if your lender can approve 71%-77% of all loan applications down to a 560 would we be talking right now? What you are paying for is the technology and underwriting guidelines that will increase your business, and decrease your marketing cost. Not to mention explode your sales reps commissions. You are dealing direct with the source and in return you save and increase sales.



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Rich Hessler Solar Sales Training now has a blog. It contains course updates, policy changes, and current solar events.
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