Inverter financing - any ideas

[zebra]

Hi Guys - Flying Brick will shortly need to finance an invertor, to run our critical power needs (only) at a cost of roughly R75K.

Rung Small Business Development Corp, who did not answer their phones....

Looking to finance a purchase, and wondering if ANYONE (organization) is offering low-interest finance to help finance an inverter, which is, in effect, a 'grudge' purchase?

Govt has not announced ANY assistance in financing, as far as I am aware of?

Will speak to our banks (FNB & Capitec), but their might be other 'go-to's' out there I am unaware of?

thanks
Chris & Team

 

[petri oosthuizen]

Chris, throwing this out here, and NOT trying to "punt" my game.

I re-financed a Client's Car that he used for Business, we "raised" R 250000, with that he bought a complete, nice solar setup for his house.

He is now saving R 4000/ month on tricity, and he has a tax deductible Expenditure.

Dunno if this would be an option for Everyone, but it definitely was for him.

So.......Finance , or then Re-Finance (even if you have an existing Settlement) any "easier to finance" asset, in your case a Business Vehicle, for instance, you still have that tax benefit, and you have "cash in hand" to then use for whatever you need.

Like I said, not punting, just an option.

Interest rates fluctuates, MANY variables, but anything between 9 and 12.

Search "Oostfin" to get an idea. It's a subsidiary of Oosthuizen Motors, everything 200% above board, approved at Banks, the whole katoot. No funnies.

 

[dieterf]

There are companies like: https://www.gosolr.co.za/ that do rent to own systems, maybe an option for a business, as you can write off the rental as a cost, opposed to a purchase?

 

[Brewed_Coffee]

Hi Guys - Flying Brick will shortly need to finance an invertor, to run our critical power needs (only) at a cost of roughly R75K.

Rung Small Business Development Corp, who did not answer their phones....

Looking to finance a purchase, and wondering if ANYONE (organization) is offering low-interest finance to help finance an inverter, which is, in effect, a 'grudge' purchase?

Govt has not announced ANY assistance in financing, as far as I am aware of?

Will speak to our banks (FNB & Capitec), but their might be other 'go-to's' out there I am unaware of?

thanks
Chris & Team

Your bankers - similar to buying a car.

Eg. we think of Wesbank as a motor finance house but in reality it's Asset Finance .......

 

[zebra]

Your bankers - similar to buying a car.

Eg. we think of Wesbank as a motor finance house but in reality it's Asset Finance .......

Good feedback - thanks, had contacted Wesbank - their loans start at R125K, but definitley an option...

 

[petri oosthuizen]

Good feedback - thanks, had contacted Wesbank - their loans start at R125K, but definitley an option...

Ja Wesbank etc etc all offer lots of different assets, even cash loans. I think they call it "Cash Power"......but MOER expensive I think.
Eg Yellow Metal, Agri, Aviation, Leisure, Truck, ...... really LOTS of different categories.
But Chris ja, PM me if you want, or WA, or whatever - I'm no financial expert, but we do work with the stuff on a daily basis.
Even if just for advise - hope I can give some.

 

[zebra]

thanks, Petri, i will be in touch, am today investigating some financing called 'Bounce Back' (from COVID?) via FNB, at Prime +3%...
Cheers
Chris

 

[Brewed_Coffee]

Good feedback - thanks, had contacted Wesbank - their loans start at R125K, but definitley an option...

You don't have to use ALL R125k - keep reserve for your next upgrade.

 

[zebra]

You don't have to use ALL R125k - keep reserve for your next upgrade.

thanks, noted, appreciated.

 

[MegaPix]

I have been in finance for long. There are a few second tier funders that specialises in solar and inverter finance.
You can send me a message and I can assist

 

[petri oosthuizen]

You don't have to use ALL R125k - keep reserve for your next upgrade.

On those Loans, Cash Power or whatever - just check.
They stuff all kinds of stuff down your throat......Life Cover, Unemployment Cover, any kind of Cover.
Just saying.

 

[m0lt3n]

Interesting this.

I also noticed these advertisements to finance solar, called and got offered 16%.
So now I have zero savings, zero cash and lekker credit card debt. Smiling all the way though

 

[Merino]

Hi Guys - Flying Brick will shortly need to finance an invertor, to run our critical power needs (only) at a cost of roughly R75K.

Rung Small Business Development Corp, who did not answer their phones....

Looking to finance a purchase, and wondering if ANYONE (organization) is offering low-interest finance to help finance an inverter, which is, in effect, a 'grudge' purchase?

Govt has not announced ANY assistance in financing, as far as I am aware of?

Will speak to our banks (FNB & Capitec), but their might be other 'go-to's' out there I am unaware of?

thanks
Chris & Team

ABSA adverteer aan ons 'n lening wat gelykstaande is aan jou huidige krag rekening. Dit klink vir my na 'n goeie opsie.

 

[Fudmucker]

If you have a mortgage bond on your home with a substantial portion paid back, you can re-schedule the loan to raise capital.
I did that a few times to finance extensions and upgrades.

 

[the_BOBNOB]

Have a look at these options:

If you just want loadshedding backup:

https://www.webafrica.co.za/hardware/loadshedding-kit/

You pick your inverter, you pick your battery and how many you want, you add installation and they give you a price and monthly payment option.

If you want to go solar:

Solar Power Kit - Keep The Lights On - Webafrica

Keep the power on with the Solar Power Kit from Webafrica and SolarAdvice

www.webafrica.co.za

Same deal but you need to register with City Of Cape Town which they will also do if you add that option.

So this is a very easy to get a full price with financing - not sure how competitive it is.