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At a glance
Steve Doll is the CFO for SolarQuote, a leading solar installer across the US. The SolarQuote team has built a nationally recognized brand and leveraged an AI-powered pricing tool to grow their business. Steve’s top priority is effectively scaling the business as installations and supply chain complexity pick up.
Solutions
Steve discovered Daylit through SubcontractorHub and applied with ease. He was quickly approved for a $115,000 across PayLater and DrawDown. Using Daylit, SolarQuote could manage large invoices efficiently, breaking down big payments into manageable weekly instalments over 4 to 26 weeks. This approach eased the burden of large, single-day payments, ensuring continuous installations and steady cash flow.
“With Daylit, we can quickly upload invoices and rest assured knowing our vendors are informed about impending payments. It’s transformed how we handle our cash conversion cycle.” Steve Doll, CFO
Benefits
PayLater offers fast, fair rates
“Compared to the other lenders out there, Daylit was much faster and more affordable.”
Smoother, stronger supply chain
PayLater allows SolarQuote to never turn down a job, always having a line of credit on hand to pay down chunky deposits for installers or equipment providers.
Simple to use system
“Daylit’s PayLater portal is really easy to use. I simply upload my vendor bills, selected my payment terms, and Daylit takes care of the rest.”
Working capital for day to day operations
Daylit's DrawDown line offers working capital for corporate expenses, which helps SolarQuote to invest in overhead, payroll and other marketing resources.
“PayLater helps me smooth out my repayment profile. We take large obligations and pay them over 4-26 weeks so they’re easier to manage.” Steve Doll, CFO
Results
56
Avg days payable extended beyond vendor due date.
< 5
Minutes spent applying and qualifying for $115k.
15%
Estimated APR savings over MCA lenders.
1
Hour response time from Daylit’s support team.
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