As a result of our strong financial performance over the years, Arizona Business Bank has once again given us their vote of confidence by renewing our line of credit.
Scottsdale, AZ (PRWEB) January 24, 2012
Phoenix solar power contractor, American Solar, announces its line of credit has been renewed by its financial partner, Arizona Business Bank. Arizona Business Bank is part of CoBiz Financial, a $2.4 billion financial holding company.
The decision to approve American Solar’s line of credit was based on the company’s financial strength and performance. American Solar and Arizona Business Bank have enjoyed a long-standing banking relationship. In addition to extending lines of credit, Arizona Business Bank provides financing for a portion of American Solar’s fleet of vehicles and solar installation trucks..
The line of credit will be used in conjunction with cash flow management. The company will be able to access funds in the event of payment delays or when purchasing opportunities arise. For example, utility payments may become substantially delayed on occasion. If necessary, the company can access the line of credit in the interim to fund operations..
In addition, the company sometimes has the opportunity to purchase a large volume of product at discounted prices. In this scenario, access to additional funding allows American Solar to take advantage of these special deals.
“American Solar has been able to perform admirably during these challenging economic conditions,” said Sean Seitz, president of American Solar. “As a result of our strong financial performance over the years, Arizona Business Bank has once again given us their vote of confidence by renewing our line of credit. Although not a necessity to fund our operations, the line of credit provides an effective cash flow tool and extends our financial options in a variety of situations.”
For more information, visit http://www.americanpv.com, or call 480-994-1440.
ABOUT AMERICAN SOLAR
American Solar is an Arizona-based design-build firm specializing in photovoltaic (solar electric) power and solar hot water systems and roofing. Headquartered in Scottsdale, the company has served over 3,500 customers and has installed over 19 megawatts of photovoltaic power in the State of Arizona. Additionally, American Solar is partnered with nine homebuilders, across 39 communities, who can attest to the importance of offering renewable technologies to gain a competitive advantage. American Solar’s expertise in the industry assures a homebuilder that they are offering the optimal solar solutions to their customers. Additional information on the company’s products and services is available on-line at http://www.americanpv.com.