EXHIBITOR NEWS

LightStream to Introduce Dealer Program at Kitchen and Bath Industry Show

Jan 6, 2016

LightStream, the online lending division of SunTrust Bank, is attending the 2016 Kitchen and Bath Industry Show (KBIS) on January 19-21 in Las Vegas. They will be at Booth N2974 demonstrating how kitchen and bath professionals can close more deals and drive incremental sales with simple, uncomplicated financing solutions.  Dealers, architects, designers and builders can now apply to join the LightStream Dealer Program, enabling them to link from their website and allow customers to submit directly to LightStream for an unsecured personal loan. While other companies charge dealers up to 10 percent of the project amount just to provide a loan, LightStream charges the dealers nothing. In fact, dealers can receive commissions starting at $60 per funded loan, with possible volume incentives.

For customers with good credit, LightStream can provide financing for any kitchen or bath project quickly, with funds deposited directly into their bank account as soon as the day they apply if all conditions are met. LightStream offers unsecured loans from $5,000–$100,000 at fixed rates as low as 4.99%* APR with AutoPay, and with absolutely no fees for consumers or dealers.  Funds can be used for practically any home improvement project: kitchen remodels, bath remodels, room additions, general repairs and more.

“The kitchen and bath industry is experiencing strong growth meeting the needs of consumers,” said Todd Nelson, business development officer at LightStream. “LightStream’s annual home improvement survey found that  57 percent of homeowners planned to spend money on home improvements, with bathroom remodels (29 percent) and kitchen remodels (26 percent) topping the charts as desired projects. LightStream’s goal is to provide simple financing solutions for customers, at no cost and minimal effort to dealers, remodelers and builders.”

The LightStream Dealer Program enables kitchen and bath professionals to focus their time and energy discussing new projects while not worrying about the financing. Customers simply apply for a loan via a brief online application. Once approved, customers can use their funds to purchase any service or product they choose for their home improvement.

Marketing efforts are supported by a suite of online resources, including:

  • The choice of more than 50 landing page templates that each speak to customers about their specific loan purpose.
  • A direct, trackable path to an easy online loan application. Once customers apply, LightStream makes quick credit decisions during business hours.
  • Reports and tools to enable your marketing to get more effective as you go.

“We had one designer tell us that they thought their customer didn’t need financing because they had paid cash for their project,” said Nelson.  “He later found out that the cash they used was increased by getting an online loan from LightStream.  It allowed his customer to purchase an additional $50,000 in upgrades.  When the designer heard that, he immediately called us to have LightStream added to his website. It’s allowed many of his customers to discover LightStream, and has led to incremental sales for his business.”

For more information on LightStream, visit www.lightstream.com/dealers; Facebook (LSLoans); Twitter, (@LS_Loans); or email LightStream at dp@lightstream.com. Look for LightStream’s 2016 home improvement survey to be released this March.

About LightStream, a division of SunTrust Bank

LightStream is a national online lending division of SunTrust Bank, providing good credit customers with competitive rates and an outstanding customer experience. LightStream’s proprietary technology offers consumers a virtually paperless loan application, underwriting, funding and servicing experience.

SunTrust Banks, Inc., one of the nation’s largest financial services organizations, is dedicated to Lighting the Way to Financial Well-Being for its clients and communities. Headquartered in Atlanta, the company serves a broad range of consumer, commercial, corporate and institutional clients. As of September 30, 2015, SunTrust had total assets of $187 billion and total deposits of $146 billion. Through its flagship subsidiary, SunTrust Bank, the company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic States and a full array of technology-based, 24-hour delivery channels. The company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services.  Through its various subsidiaries, the company provides mortgage banking, asset management, securities brokerage, and capital market services. SunTrust’s Internet address is suntrust.com.

SOURCE: SunTrust Banks, Inc.

CONTACT: Julie Olian, 858-232-0386

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