This Letter of Intent involves
Title: RGS Energy Signs Letter of Intent for New $5 Million Loan Facility
Industry: Constr. - Supplies and Fixtures Sector: Capital Goods
RGS Energy Signs Letter of Intent for New $5 Million Loan Facility
LOUISVILLE, CO, December 18, 2015 – RGS Energy (NASDAQ: RGSE), a residential and small commercial solar company since 1978, has signed a letter of Intent for a new $5 million loan facility. The new loan facility will replace the company’s existing line of credit with Silicon Valley Bank. The new loan facility will be provided by Solar Solutions and Distribution, LLC (Solar Solutions), a Colorado-based renewable energy solutions company. In addition to distributing standard solar products since 2009, Solar Solutions is in the business of delivering innovative, engineered, and cost effective sustainable energy solutions and products globally. Solar Solutions has been doing business with RGS Energy since 2010.
“We are excited about this new loan facility and expanding our relationship with Solar Solutions and Distribution,” said Dennis Lacey, CEO of RGS Energy. “This new facility will provide us with more favorable terms than our current bank line, including access to more funds through the use of additional collateral and an extended term through March 31, 2017. We expect this new facility to be in place by the end of 2015.”
About RGS Energy
RGS Energy (NASDAQ: RGSE) a rooftop installer of solar equipment, serving residential and small business customers in the mainland U.S. and Hawaii. Beginning with one of the very first photovoltaic panels sold in 1978, the company has installed tens of thousands solar power systems. RGS Energy makes it possible for customers to save on their energy bill by providing a comprehensive solar solution, from design, financing, permitting and installation to ongoing monitoring, maintenance and support.
For more information, visit RGSEnergy.com, on Facebook at www.facebook.com/rgsenergy and on Twitter at www.twitter.com/rgsenergy. RGS Energy is a trade name and RGS Energy makes filings with the Securities and Exchange Commission under its official name “Real Goods Solar, Inc.” For more