Sunlight Financial, a leading fintech platform for point-of-sale financing, and Tech CU, a Silicon Valley-based credit union, today announced the expansion and extension of the nation’s longest and largest residential solar loan partnership. Tech CU committed to enabling more than 80,000 homeowners to go solar via Sunlight’s network of installers because of the strong performance of Sunlight-originated consumer loans.
“Sunlight is proud of our track record delivering high-quality loans for residential solar and home improvement,” said CEO Matt Potere. “We’re growing rapidly and appreciate Tech CU’s commitment to our fast and frictionless processes, innovative loan products, and future growth.”
Sunlight Financial last year originated about 20% of residential solar loans nationwide. Hundreds of experienced solar installers leverage the company’s best-in-class technology and point-of-sale financing to grow their offline and online business. Sunlight’s proprietary credit criteria and sophisticated decisioning engine empowers the company to grow quickly while delivering industry-leading loan performance.
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“We’re excited to expand our partnership with Sunlight Financial, our first, and longest standing strategic relationship,” said Todd Harris, CEO of Tech CU. “Over the years, Tech CU and Sunlight Financial have built a strong partnership and we look forward to continuing that tradition while accelerating America’s transition to renewable energy.”
Sunlight and Tech CU have financed more than 50,000 residential solar systems since initiating their partnership in September 2015.