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In a strategic move to enhance access to solar financing for businesses, Sunstone, a leading loan platform specializing in clean energy transitions, has announced a collaborative program with M&T Bank . This initiative aims to provide businesses with simplified and affordable financing solutions for solar installations.
Despite the numerous advantages and incentives associated with solar energy adoption, many businesses face hurdles in securing loan financing for such projects. Consequently, they are often left with limited options, either having to pay upfront in cash or forego the transition to clean energy entirely. Through this partnership with M&T Bank, ranked among the top 20 commercial banks in the United States, Sunstone seeks to broaden the accessibility of its straightforward and competitive solar financing options.
Jeff Balcom, Senior Director of Business Banking Credit at M&T Bank, expressed enthusiasm about the collaboration, citing Sunstone’s commendable track record and expertise in solar financing. He emphasized that the program would facilitate M&T Bank’s clients with expedited access to cost-effective solar financing, thereby catering to the escalating interest among businesses in embracing clean energy solutions.
Sunstone’s extensive installer network covers all 50 states, and the company is continually expanding its range of affordable financing options through its advanced online platform, tailored to meet the diverse borrowing requirements of businesses of all sizes. Notably, in 2023, Sunstone achieved a significant milestone by surpassing half a billion dollars in initiated loan applications across the United States.
Josh Goldberg, co-founder and CEO of Sunstone Credit, highlighted the transformative potential of the collaboration with M&T Bank, stating that it would streamline the transition to solar energy for businesses. He emphasized the significance of having a reputable banking partner like M&T Bank, which is expected to accelerate Sunstone’s growth trajectory and catalyze the expansion of the commercial solar market.
This announcement follows Sunstone’s recent establishment of co-headquarters in Baltimore, aimed at bolstering solar accessibility in the Mid-Atlantic region. Additionally, the company’s strategic acquisitions, including ORKA Finance, a commercial solar lender, and participation in a consortium to acquire Sunlight Financial, a residential solar financing company, underscore its commitment to advancing solar energy adoption across various sectors. |
