LED Source Launches Financing Program for Energy Efficient Lighting Upgrades

LED Source, a solutions provider who specializes in full-scale evaluations and retrofits utilizing LED lighting, announces the launch of LouMan Money. The private-labeled finance program affords commercial businesses an energy-efficient LED lighting upgrade without eating up capital or tapping their existing lines of credit. With LED lighting becoming increasingly popular, a program to ease financial woes associated with the environmentally-friendly lighting solution comes at a good time.

"The demand for energy efficient lighting is increasing rapidly, but we're finding that business owners are turning to low quality products and solutions that offer far less value only to try and reduce the up-front costs," says Marcel Fairbairn, president and CEO of LED Source. "What many of these owners don't know is how affordable LEDs can be when working with the right professionals. LouMan Money will help our customers experience the same cost savings associated with LED retrofit, but without the upfront costs."

The enormous cost-savings associated with LED lighting are evident just by looking at the numbers. A report by Pike Research released in 2010 said, "If all the commercial buildings in the US that exist as of 2010 were retrofitted to be more energy efficient, the country as a whole would save over $41.1 billion a year in energy bills." Other motivations include the federal tax incentives and local utility rebates -- which can cover anywhere between 30 percent and 100 percent of the cost of LED lighting.

LouMan Money will allow customers to qualify for an LED lighting upgrade funded entirely from their energy savings received. The program covers everything from the initial LED lighting products and recycling of previous lighting, to design and installation, without the need for out-of-pocket expenses.

"We're still in a tough economic climate, but that shouldn't negate the value of an LED lighting retrofit -- it's an extremely valid investment," says Fairbairn. "LouMan Money covers the entire costs so that the customer's capital is freed up for use on other expenses. In turn, the financed amount can pay for itself in as little as just a year or two -- it can even generate positive monthly cash flow right out of the gate."

A fast and simple application process means LED Source clients can be pre-approved within just a few minutes and receive full-approval within 24 hours. A paperless online application process is expected to be up and running later this year, and will be integrated into the company's Lampinator software already running on iPhone and iPad, making the LouMan Money finance program as "green" and energy-efficient as LED lighting itself.