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PNC Equipment Finance, LSI Lighting Provide Financing to Petroleum Market

November 18, 2015, 07:02 AM
Filed Under: Vendor Finance News

LSI Industries announced a new strategic relationship between LSI Lighting Solutions, LSI's lighting fixture manufacturing division, and PNC Equipment Finance, LLC (PNCEF) to provide financing solutions to LSI's petroleum customers.

Pursuant to this agreement, LSI's current and prospective petroleum customers (gas stations and convenience stores) will have the option to apply for financing from PNCEF in order to upgrade both their lighting and petroleum equipment simultaneously, thus taking advantage of the energy-saving benefits of LED retrofit solutions immediately.

PNCEF is the 4th largest bank-owned leasing company in the U.S. The financing options that PNCEF offers to approved applicants can include not only the cost of the actual upgrades themselves, but also the installation, service and freight. This can translate to little to no money down, result in improved cash flow, be structured on or off balance sheet, and mean lower borrowing costs than approaching the financing of each upgrade separately, based on more favorable rates offered by PNCEF when lighting and equipment upgrades are bundled together.

Shawn Toney, President of LSI Lighting Solutions, commented, "We are excited to announce this strategic relationship between LSI and PNC. It eliminates a barrier for qualified prospects interested in retrofitting to money-saving, energy-efficient LED technology but who may not have capital available upfront.  As a result of this relationship, our customers can begin to realize the significant energy savings, as well as utility incentives, that switching to LED technology provides."

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