Sunstone Credit has announced its new loan product, Express Loan, for small business solar loans under $250,000.
The company says small businesses historically have to pay cash or use traditional financing options for solar installation, adding that its new loan product may give these customers more streamlined access to solar financing.
“Solar energy has traditionally been out of reach for small businesses,” says Sunstone’s Chan Tai. “It requires a significant cash outlay and traditional banks don’t know how to underwrite the loans. Sunstone makes solar accessible to small businesses by providing quick and easy financing options that are often cheaper than what businesses are paying for their existing utility bills. With Express Loan, businesses will have faster access to Sunstone financing, accelerating their transition to solar energy and savings.”
The loan is available to commercial customers of Sunstone’s approved installation partners. Qualifying businesses are for-profit and property companies that have been in business for three years or longer or have co-signers who own the property.