Providence, R.I. — Admirals Bank, an FHA approved lender and the nation’s largest provider of the Title I Home Improvement Loan, has recently announced that it will focus on financing for the residential septic and wastewater industry. Admirals Bank financing can assist homeowners with purchasing septic system installations, any necessary repairs, and city and town connections.
Admirals Bank has been the leading Title I Home Improvement lender for over 20 years. The Bank’s experience coupled with extensive market research has uncovered many home improvement genres that may greatly benefit from the financing Admirals Bank can provide. Over the last year Admirals Bank has focused their Title I lending efforts on residential solar and renewable energy, and the industry response has been immensely positive. Recently, Admirals Bank determined that the septic and wastewater industry had a similar need and accordingly has decided to enter this arena to assist customers obtain the financing they may necessitate.
A septic system may be the most costly investment homeowners can make in their homes. Malfunctioning systems in need of repair can cause serious environmental damages, leaving the responsible homeowners in unfortunate situations. Federal and state organizations, as well as many public health departments, address circumstances in which septic systems fail to operate correctly by mandating updates or repairs. These mandatory repairs often come at a cost that many homeowners have not included in their household budgets.
Admirals Bank offers homeowners non-equity based financing for up to $25,000 for residential septic and wastewater systems throughout the United States. Contractors and installers within this industry refer their interested customers to Admirals Bank to help them obtain the funds necessary to purchase these products.
Contractors currently working with the Bank have been greatly appreciative and receptive of the program, but the true value and benefit is directed toward the homeowner receiving the funds.
Lee Pollock, Chief Sales and Relationship Banking Officer stated, “This financing program is designed specifically for the homeowner. Our Business Development Team has received calls and emails from homeowners to thank us, insisting that they were without options before they learned of Admirals Bank.”
The current demand for financing in this industry is significant and growing. Consequently, Admirals Bank will continue to direct its lending efforts toward the residential septic and wastewater industry serving as a solution for homeowners in need of funds. For more information regarding the financing provided by Admirals Bank please visit admiralsbank.com/home-improvement-lending.