Tindo Solar and Moula Pay offer working capital to customers

Australia’s only solar panel maker Tindo Solar has joined forces with business finance expert Moula Pay to enable resellers and installers to increase their stocks of solar panels on interest-free terms.

The partnership enables more than 1,000 Tindo Solar panel installers and resellers to buy up to $250,000 of solar panels from the Adelaide-based company, accessing an unsecured spend limit from Moula Pay which fills the working capital and extended terms payment gap.

Approved installers will now be able to stock-up by using a Moula Pay spend limit, accessing payment terms, with up to three months interest- and repayment-free.

Or they can repay over a longer period if they need.

Tindo CEO Shayne Jaenisch said the solar installation industry had a working-capital problem because installers and resellers had to acquire their stocks of solar panels before they installed them and were paid.

The more work an installation business won, the greater its overheads in order to secure solar panels.

Jaenisch said: “It can be hard for our customers because the industry is so competitive that they must have stock at-hand for their installations, or customers can easily go elsewhere.

“And to secure their stock, they have to buy it.

“Holding just 100 panels can cost around $25,000 – if they’ve got a lot of work, they’ll have 500 panels ready to go.”

Jaenisch said the working-capital gap in this industry saw business owners putting their family home up as security.

“Moula have come into the industry with a great finance solution.

“We get paid immediately and release the stock, and our customer has up to three months interest-free terms.

“Moula are the experts in this kind of lending – they stay close to the borrower which allows the facility to be unsecured. We expect a lot of our customers to use the finance.”

Tindo Solar employs 50 people at its new $11 million factory at Mawson Lakes, Adelaide.

Picture: Tindo Solar/Adelaide factory

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