Sunlight Financial protects 2B in solar funding through increased collaboration with Tech CU

• Sunlight Financial has actually revealed that Tech CU, a Silicon Valley-based lending institution, has dedicated to money an additional virtually $2.5 billion in property solar and storage space systems sold and also installed by Sunlight partners over the following three years, broadening upon a long-lasting collaboration in between Sunlight and Tech CU that started in 2015.

The new commitment is anticipated to money approximately 75,000 planetary systems, which will create sufficient solar power to stay clear of more than 7.5 million metric tons of carbon dioxide discharges right into the environment.

" We delight in to extend and also increase, for the fourth time, our calculated as well as long-lasting cooperation with Tech CU," stated Sunlight Financial Chief Executive Officer Matt Potere. "For more than five years, Sunlight has actually provided to Tech CU the most effective carrying out car loans in residential solar, with the industry's highest possible credit high quality as well as least expensive credit rating losses.

" With Tech CU's support, Sunlight will continue to provide ingenious loan items as well as economic services through our proprietary and also highly-rated modern technology system, Orange."

Sunlight Financial provides a comprehensive suite of 5- to 25-year solar car loans for a wide variety of home types. The company has the ability to supply both instantaneous credit report prequalifications and also authorizations for solar finances that generally lead to lower month-to-month payments (combined loan payment plus staying energy bill) than property owners' pre-solar energy expenses. Orange is accessible to solar installers partnered with Sunlight directly, or through a technical combination with an installer's system.

Orange also allows Tech CU to track lendings in its pipe and draw information on fundings currently moneyed by it from Sunlight's devoted funding supplier website as well as enables individual borrowers to access details on their fundings using a different customer website.

" Throughout the years, we have developed a solid partnership with Sunlight Financial predicated on accelerating America's shift to renewable energy," stated Todd Harris, CEO of Tech CU. "Sunlight Financial's top notch installer partners and underwriting processes are appreciated by Tech CU, and also we anticipate prolonging our partnership."

On January 23, 2021, Sunlight participated in a service combination arrangement with Spartan Procurement Corp. II (NYSE: SPRQ). The business mix is anticipated to shut throughout the second quarter of 2021.

Upon closing of the transaction, the combined public firm will certainly be named Sunlight Financial Holdings Inc. Sunlight Financial LLC will certainly be the brand-new public holding business's single operating subsidiary and Sunlight's existing management team will continue to lead the business.