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PHOENIX, June 21, 2019 (GLOBE NEWSWIRE) -- Direct Solar is pleased to announce the company is developing a commercial solar lending solution. The solution will serve customers that own and/or manage commercial properties. This is a massive market opportunity the commercial space is looking for.
Direct Solar will be one of the first companies to offer this type of lending solution and is expected to launch in the next four to six weeks. To learn more please visit https://directsolaramerica.com/commercial/
“Currently there are a lot of residential lending solutions as well as large scale lending for solar farms and high megawatt projects. We have yet to find a solution that will finance projects in the small to medium commercial space. Our financing solution will provide these customers with quick funding turn around and require no personal guarantees. We believe there is enough projects for us to turn $100 Million dollars in lending over the next 9-12 months,” states Pablo Diaz, Founder CEO of Direct Solar.
Offering this new financing solution will provide Direct Solar with addition revenue and cash flow. As the company will be receiving commissions on each project that is funded as well as their commission on the installation.
“This is a massive opportunity to fill a huge gap in the market. There has not been a solution we’ve found like ours simply because the current model means you are either a lender or installer. Direct Solar being one of the only solar brokers in the market means we can work with the customer to find the right installer and the right lender. Matching these two together is a win-win for everyone involved,” states Brian Odle National Finance Director, Direct Solar.
Coming off of a major month May 15, 2019 – June 15, 2019 Direct Solar closed $1,709,460 in solar installs. This revenue should generate approximately $803,769 in gross and $361,541 in net. Additionally, the company added three new major service areas and a fourth on the way. This has all been residential driven. The addition of the commercial solar opportunity should dramatically increase the quick growth the company has already been experiencing.
These numbers put Direct Solar on the path to profitability from a cashflow standpoint very quickly. Management from SinglePoint and Direct Solar are very excited to see the continued growth of the solar business through multiple avenues including commercial.
“This acquisition puts SinglePoint on a huge trajectory path. The solar market is on an extreme growth trajectory and Direct Solar has planted its foot right in the middle of it. Providing installers and financers with qualified customers, while providing these customers a streamlined process for purchasing solar”, states Greg Lambrecht CEO SinglePoint.
About Direct Solar
Direct Solar is a subsidiary of SinglePoint Inc. (OTCQB: SING). We here at Direct Solar America are a solar energy brokerage, we help find and install the best available solar energy system for any building residential or commercial. NO money down, NO cost for an estimate and with the potential to help you save up to 50% off of your electricity bill.
Have you ever asked the question to yourself: “How do I get solar for my home?” Well we can help you with that and even if you have solar already, we can save you more money on your bill.
Our second-to-none brokerage model benefits our customers by making sure they see increased benefits and complete satisfaction, while we make sure they realize the most optimal cost savings. With various financing options, multiple choices for Solar Power technology, and 100’s of contractors our customers value our extensive experience in creating customized solutions that meet their needs.
After years of experience and more than 3,500 homes powered with the help of our solar brokerage services, we think the choice is clear!
About SinglePoint, Inc.
SinglePoint, Inc (SING) is a technology and acquisition company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services, blockchain solutions and renewable energies. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through SingleSeed, the company is providing products and services to the cannabis and hemp industry.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4bbb17fe-afa3-4181-9738-87c30203676a