From: Bruce J. Sottolano, 215-249-9239                               ssenergysystems.com
P.O. Box 51, Blooming Glen, PA  18911                                    whome@ssenergysystems.com

To: Ecology minded financial institutions

NEW PRODUCT PROPOSAL

The proposal is for:

an “EnergyLine of Credit”© similar to an equity line of credit.  

1. The principle to be secured by the energy parts and equipment.

2. The parts list invoice to determine the value of parts and equipment. (click for sample)

3. Payments will be applied first to the non-tangible costs such as shipping, installation, fees, etc.

4. The interest rate to be at 5%.

5. The line of energy line of credit to be $15,000 for vehicles.

6. The limit for houses to be $50,000.

7. The payments will be based on a 5 year vehicle and 15 year home payback.

The product is envisioned similar to a “New Construction Loan”  That is, the disbursements to be made directly to the vendors at specific stages.  

The first disbursement shall be on presentation of:

 a) an acceptable plan secured at the expense of the applicant and

 b) a comprehensive parts and equipment list and (click for sample)

 c) a vendor’s invoice.

Subsequent disbursements based on the vendor’s invoices and verification of work completed as applicable.

Payments may be made as early as 30 days after the first disbursement but no later than 30 days after the final disbursement.

The product is further envisioned as placing 0 (Zero) financial load on the applicant because the Energy Line payments replace or offset fuel and other expenses.

For example with a vehicle, the average fuel expense is $300 to $370 per month.  Oil changes, emission inspection and costly engine, exhaust and cooling repairs are also eliminated.  These savings could total over $400 per month thus making the energy line payments a 0 financial.    

Respectfully submitted;

Monday, June 20, 2011

Bruce J. Sottolano