Smartcool Systems Inc. is making it easier for prospective clients to purchase its energy efficiency products. The Vancouver-based company launched a funded sales program to enable customers to buy products without the upfront capital.
Over the last 12 months, Smartcool has seen clients not only install energy efficiency technology but seek to expand installations.
"Because of this, we have decided to implement a funding program that we expect to allow clients to reap the benefits of the Smartcool technology without experiencing the usual restrictions and unnecessary delays typically associated with large scale capital requirements,” said Nick Weedon, national sales manager for the UK at Smartcoool.
To fund the vendor financing initiative, Smartcool has selling 5,000 debentures at $1,000. The entire $5 million in proceeds will be used for the funded sales program, the company noted.
"The appreciable level of interest from several key clients with whom we have discussed our proposed funding program has encouraged us to move it forward. Existing key partners have already started to introduce this to their clients. We believe that reviewing our current sales opportunities can accelerate sales and exceed ambitious company targets for the balance of the year,” added Weedon.