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As home ownership has risen over the years we’ve seen growth within the home improvement sector like never before. The 2020 pandemic acted as a catalyst for this growth, as life changed seemingly overnight, and consumers started devoting more time and money to their homes. Renovation rates have increased by over 20% in recent years as we have observed younger families opting to move into older homes. This growth has springboarded the home improvement industry and according to NPD, dollar sales in the category rose nearly 30% over the last 3 years. As consumers are beginning to invest more and more into their home there is one company that is set to capitalize – Loyal Energy.
Improving the offering in the market
The home improvement industry has experienced remarkable expansion, fueled by a growing number of individuals seeking to enhance their quality of life by investing in their homes. Loyal Energy is playing a pivotal role in driving this growth by providing homeowners with the most cost-effective financing alternatives for their renovation projects.
Loyal Energy serves as a comprehensive solution for families seeking to modernize their homes. It is one of the first companies to offer financing options and complete services for a wide range of home improvement needs, including solar installation and roofing. The company has established a reputation for its ethical work practices, quick turn-around time, and highly competitive pricing relative to its competitors.
“Most of our competitors sell solar systems with super high financing fees making it very expensive for customers. This is because these companies have 3rd party financiers and installers, which makes the whole process expensive and drawn out”, says Loyal Energy’s Chief Marketing officer Jordan Evans. “Our in-house financing program, Loyal Financing, is the first of its kind in the home improvement industry”. “We assist homeowners in finding cost-effective financing options for their most valuable asset—their home. Through this program, we have successfully helped thousands of families save money for more significant life priorities”, Evans proudly shares.
Helping homeowners save money
Not only does Loyal Energy provide the lowest-cost financing for home improvement projects, but the company also offers a range of additional services designed to maximize the benefits of their projects. These services include a comprehensive home energy audit that identifies areas where homeowners can reduce costs and optimize efficiency by addressing any home appliances that are not working at peak efficiency.
“We are committed to educating homeowners on cost-effective approaches to energy management. Consequently, a significant proportion of our customers pay zero upfront costs and realize savings from day one”, CEO Tanner Halford affirms. “At the heart of our operations is our commitment to customer satisfaction. If we are unable to generate savings or improve their situation, then we are not doing our job”.
Poised to transform the sector
The company has achieved remarkable success in a short period of time. Within the past three years, its sales organization has assisted more than 4,000 households and generated over $160 million in revenue. “This year, our team expects to generate more than $100 million alone”, says Chief Operating Officer, Ridge Payne.
As a Utah-based startup, Loyal Energy aims to make home improvement easier and more affordable for everyone. With its innovative approach to home improvement and its commitment to providing customers with the best finance and fulfillment services, Loyal Energy is certainly poised to transform the home improvement space.
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