Admirals expands solar energy financing programs

BOSTON – In recognition of the growing popularity of solar energy solutions, Admirals Bank is growing the programs it offers to both residential and commercial customers who are looking to finance such purchases.
“We saw how the declining costs of solar panels and emerging financing options had contributed to the exponential growth of the industry,” said Nicholas W. Lazares, chairman and CEO of Admirals Bank in a statement. “Our new loan programs align with the needs of today’s solar customer, and we will continue to develop and enhance our offerings as the industry evolves.”
The first program, to be offered through solar energy dealers, is called FastTrack. Designed to expedite and simplify the loan application and approval process, FastTrack is also designed to offer what the bank characterizes as enhanced service levels and availability. In addition, the loans have more flexible terms, including to those with low credit scores.
The second new program, designed solely for the commercial solar energy market, is expected to fill the need of small to medium-size businesses that are looking to catch the renewable energy wave.
Admirals Bank is headquartered in Boston, with a regional banking center in Providence. In addition, the bank has a renewable energy lending center in San Francisco under the Admirals Alternatives brand.

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