Sunstone Credit, MT&T Bank team up to expand commercial solar financing

financing deal

Commercial solar loan platform Sunstone Credit announced a program with M&T Bank, a top 20 commercial bank in the United States, to give more businesses access to solar financing.

Many companies lack access to loan financing for solar installations, forcing them to pay cash or forgo switching to clean energy altogether, notes Jeff Balcom, Senior Director of Business Banking Credit at M&T Bank.

“This program will give our clients easier and faster access to straightforward, competitive solar financing options from an established fintech leader,” he says.

Sunstone Credit’s collaboration with M&T Bank expands access to its simple, cost-effective loan financing, helping more businesses afford solar systems. Sunstone’s installer network spans across all 50 states, and the company surpassed half a billion dollars in initiated loan applications across the U.S. in 2023.

“Through our program with M&T, we’re poised to make it easier than ever for businesses to pivot to solar energy,” said Josh Goldberg, co-founder and CEO of Sunstone Credit. “Having such a well-regarded banking partner in our corner will accelerate our growth, and the growth of the commercial solar market, in a really meaningful way.”

M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T’s principal banking subsidiary, M&T Bank, provides banking products and services in 12 states across the eastern U.S. from Maine to Virginia and Washington, D.C.

Last week, Sunstone Credit launched the Consultant Partner Program to provide solar energy brokers and consultants easier access to Sunstone’s loan offerings and installer network.

Both of these announcements come on the heels of Sunstone opening its co-headquarters in Baltimore to expand solar access in the Mid-Atlantic. The company also recently acquired ORKA Finance, a commercial solar lender, and joined a consortium of investors to buy Sunlight Financial, a residential solar financing company.

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