Commercial solar loan platform Sunstone Credit is partnering with M&T Bank on a program to provide businesses access to solar financing.
Despite the advantages and incentives for businesses to go solar, most companies lack access to loan financing for solar installations, according to Sunstone Credit, forcing them to pay cash or forgo switching to clean energy altogether. By collaborating with M&T Bank, Sunstone Credit is aiming to expand access to its loan financing to help more businesses afford solar systems.
“Sunstone has an incredible track record and depth of expertise in solar financing, and we’re thrilled to team up with them to support businesses’ growing interest in adopting clean energy,” Jeff Balcom, senior director of business banking credit at M&T Bank, said. “This program will give our clients easier and faster access to straightforward, competitive solar financing options from an established fintech leader.”
Sunstone’s installer network spans across all 50 states, and the company continues to expand its financing options via its online platform. In 2023, Sunstone surpassed $500 million in initiated loan applications across the U.S.
“Through our program with M&T, we’re poised to make it easier than ever for businesses to pivot to solar energy,” Josh Goldberg, co-founder and CEO of Sunstone Credit, said. “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.”
