In a previous blog post I talked a little bit about the benefits of Sunlight Financial, a company that has grown significantly in just a few short years from being an idea, to being a publicly traded fortune-500 company (check it out here: https://suntexllc.com/big-news-from-our-own-back-yard/). However this week we’ll dig a little deeper and really explore what sets Sunlight Financial apart as a solar, and home improvement lender.
For starters, Sunlight Financial was founded in 2014 by insiders of the solar financing industry: Neil Auerbach and Wilson Chang (https://www.hudsonsustainable.com/sunlight-financial). According to Hudsonsustainable.com, “As the pioneer of solar PPA financing while leading Goldman Sachs’ renewable energy business over 15 years ago, Neil understood firsthand the complexity associated with leases and PPAs, particularly as applied to single family homes rather than large utility scale systems. Neil and Wilson envisioned that a simpler consumer loan, secured by the solar system, would be a far superior means of facilitating mass adoption of residential solar in the US, helping consumers to switch to solar to save money and reduce carbon emissions” (https://www.hudsonsustainable.com/sunlight-financial).
This means that when you work with Sunlight Financial, you’re working with some of the founding fathers of the solar loan programs we see today. They’re well-versed in the subject, and know what they’re talking about when it comes to these types of financial packages, because they’ve got decades of industry experience!
Similar to GoodLeap (who we explored in yesterday’s blog post, here: https://suntexllc.com/loanpal-goodleap-and-everything-in-between/), Sunlight Financial is also publicly traded. This means that all those same benefits we discussed before – surpassing market barriers and finance-market scrutiny – apply to Sunlight Financial as well.
Additionally, Sunlight Financial was one of the first solar loan companies to include other types of home improvement projects as well, which shows their flexibility, as well as their general understanding of the market. Not to mention, and perhaps most importantly to our customer base, Sunlight Financial has made strides in the industry in assisting non-native English speakers – check out more information on that, here: https://www.solarpowerworldonline.com/2021/03/sunlight-financial-now-offering-residential-solar-loans-in-spanish/.
One key difference from Sunlight Financial is that while they have one of the easiest processes for both customers and installers to follow when installing and financing solar and other home improvement projects, they do have slightly higher requirements for acquiring said loan. For example, they’re looking for home owners with at least a 650 credit score before moving forward, so if you’re not quite there yet, this may not be the loan program for you. That said, if your credit score is 650 or above, they’re an excellent option and provide some really nice incentives, in addition to their easy-to-follow recipe for financing your home improvement project.
Because they’ve been doing this for a while, their method is like clock-work, and they have a very simple user-interface to help you out as well as you go through the process of installing your project – but don’t take my word for it, check out what Yahoo News had to say about them: https://www.yahoo.com/now/sunlight-financial-enhances-financing-solutions-123000896.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAABpURMX2rURPJIOylgbJe6XI_8jKVXGkq6pr5ztIfAFis4Lufdll9GaHWdr34gPlVU8zrvyI5qhGSW3zk4XNaMLlcMKss4uuyDpQYaHfux4sDCGBQzYExvXmth4zecr8ppTRFSDvKHssmcx2cHN2SJ9tcCenI6f7CI0IU-kVqent.
Is Sunlight Financial right for you? Call us today and find out!