Partnership offers HVAC industry a full-service lending and lease purchase platform
The new solutions will allow homeowners to complete a single application, and in most cases, obtain an immediate decision for a menu of financing products offered by SunTrust or the lease-to-own product available through Microf. The combination of these solutions provides significant advantages to HVAC contractors and consumers through speed and ease of use.
“Microf is changing the way U.S. homeowners restore their heating and cooling needs with affordable monthly payments,” said Mitch Masters, Microf CEO. “This partnership will provide HVAC contractors and homeowners with an easy, online application process and much improved access to a wider choice of financing and lease purchase options.”
The program will run on Microf’s advanced technology platform and will allow homeowners to choose, based on their credit and personal preference, the SunTrust financial tool that best meets their needs. In order to provide homeowners with choices, several options will be offered through the platform, including low monthly payment and interest-free promotional offers.
The Microf lease-to-own product will round out the offerings, providing an opportunity for homeowners with below average credit to replace an old, inefficient heating and cooling system with an efficient and reliable one.
“This program combines the strength of SunTrust’s lending experience with Microf’s strong industry presence to allow us to help more clients quickly and easily meet their HVAC needs,” said Ellen Koebler, head of Consumer Solutions for SunTrust.
The SunTrust products help clients build financial confidence with competitively low interest rates, no early-payment penalties and no deferred interest programs. The Microf program offers structured payment terms designed to reduce the consumer’s total cost of ownership.
For more information, www.microf.com.
Microf was established in 2010 to accommodate the growing demand for more flexible options surrounding the replacement of residential Heating/Cooling systems. Microf provides competitive and convenient rent-to-own/lease purchase solutions for residential HVAC systems in the U.S. through a network of preferred HVAC distributors and contractors. For additional information on the benefits of Microf, please visit www.microf.com
SunTrust Banks, Inc. (NYSE: STI) is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses, and communities it serves. Headquartered in Atlanta, the Company has two business segments: Consumer and Wholesale. Its flagship subsidiary, SunTrust Bank, operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states, along with 24-hour digital access. Certain business lines serve consumer, commercial, corporate, and institutional clients nationally. As of December 31, 2017, SunTrust had total assets of $206 billion and total deposits of $161 billion. The Company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services. SunTrust leads onUp, a national movement inspiring Americans to build financial confidence. Join the movement at onUp.com.
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