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New Finance Solution for EV Charging Stations from NECA ECAP

Sep 26, 2018

The electric vehicle (EV) charging stations market is expected to grow nearly 600% from $5.30 billion in 2018 to $30.41 billion in 2023. As of 2017, the U.S. Department of Transportation's Federal Highway Administration has designated 44 states plus the District of Columbia, covering over 100,000 miles, as Alternative Fuel Corridors.

Now, the race is on to provide services and support for this new infrastructure.

NECA-ECAP-Logo_2018Because NECA members are uniquely qualified to assist in the commercial installation of charging stations across the U.S., NECA ECAP now offers a special charging station finance solution that member contractors can provide to their customers.

How It Works + Job Requirements:

  • $5,000 minimum job size
  • Up to 7-year term
  • Most credit decisions within 1 business day
  • Quick single page credit app
  • Finance all costs, including soft costs such as:
    • Installation
    • Network subscription for smart chargers
    • Service/Maintenance plans
  • Get paid quickly via ACH transfer
  • Dedicated sales reps in all territories

Program Benefits:

  • Integrated, easy, and streamlined process
  • Conservation of capital budget – Since money is not tied up in equipment costs, it is free to be spent on other items, such as supplies, personnel and training.
  • 100% financing – The total investment can be financed and “soft” costs such as service, maintenance and insurance can also be included in the monthly payments.
  • Flexibility – You can select a payment option that best fits your budget. We will help you structure the “right” transaction.
  • Keep up with technology – Working through our program may allow you to upgrade to new equipment anytime during or at the end of the equipment contract term.
  • Easier cash flow forecasting – Transparent and fixed monthly payments help you to better budget money for the term of the agreement.
  • Fixed payments – By locking in payments now, you can avoid potential inflation risk.
  • Longer terms – Financing terms from 12 to 84 months are available.
  • Purchase or renewal options – At the end of the term, you may choose to purchase your equipment, upgrade to newer technology, or continue to finance.

Get started today!

Visit the NECA ECAP booth #2132 during the NECA 2018 Philadelphia Convention & Trade Show, Sept. 28-Oct. 3.

Or, contact me directly at MMM@necanet.org or (301) 215-4556 for additional information.