San Jose, CA, March 12, 2010 --(PR.com
)-- SunPods, Inc has successfully obtained a source of financing for their commercial customers in the way of a newly formed relationship with Capital Funding Group (CFG) of Bellevue, WA. CFG has developed multiple solutions for providing capital, including a short-term option to allow commercial customers to “monetize” the Federal ITC when taken in the form of the available grant, and the California CSI rebates. This financing option allows CFG to provide SunPods customers in California approximately 50% (or less) of the overall project cost in the form of long term financing, and the Federal grant and CSI Rebate (the remaining approximately 50%) in a short-term (60-90 day) facility. CFG can also provide the same short-term solution for many other state and/or utility rebates and incentives.
According to Bill Kammerer - CEO, SunPods, "Our customers frequently ask for a solution that enables them to avoid having to pay the Federal grant and CSI rebates upfront. CFG understands this customer need and has worked closely with SunPods to deliver a short-term customer financing solution that directly resolves our customers' requests. This unique and innovative incentive financing vehicle from CFG makes it even easier for customers to get SunPods power and benefit from our unrivaled value in terms of $/watt, reliability, durability, and ease of installation."
About Capital Funding Group
CFG has over 14 years of commercial finance experience and has become very aggressive in their ability to provide capital for viable renewable energy projects, focusing primarily on Solar PV. CFG has national funding capabilities and is able to finance projects in all 50 U.S. states. For more information regarding the solutions offered by Capital Funding Group, please contact Ken Meyer at (425) 732-2987 or KenM@CapFunded.com
About SunPods Inc.
Headquartered in San Jose, California, SunPods is expanding the solar power generation market by delivering modular, self-contained solar arrays. Site preparation is minimal and there is no on-site assembly. SunPods’ units are pre-engineered, pre-manufactured and pre-tested in a rigorous factory setting making them ready to power up on delivery. Corporate headquarters are located at 1922 The Alameda, Suite 214, San Jose, California 95126. Website: www.sunpods.com For more information about SunPods, please contact Lisa Schmidt at Lisa.Schmidt@sunpods.com or (408) 689-2446