Australian solar panel maker, Tindo Solar, has partnered with Melbourne-based online lender Moula Pay, providing access to short-term unsecured business loans of up to $250,000 which enable installers and resellers to increase their stocks of solar panels on interest-free terms.

Tindo Solar chief executive officer Shayne Jaenisch says that the partnership will enable more than 1,000 eligible panel installers and resellers to buy solar modules and get up to three months free from interest and repayments.

“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,” he says.

“And to secure their stock, they must 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. There’s a working-capital gap in this industry and the business owners don’t necessarily want to put their family home up as security.”

Shane adds that the financial package offer from Moula Pay is a great solution to the issue with approved installers now able to access the interest-free spending limit.

“We get paid immediately and release the stock, and our customer has up to three months interest-free terms. We expect a lot of our customers to use the finance,” he says.