Cross River and Sunstone Credit Partner to Provider Solar Financing to Small Businesses

Cross River Bank, an infrastructure provider that offers embedded financial solutions, and Sunstone Credit, a solar loan finance platform for small and medium-sized businesses, formed a partnership to further Sunstone Credit’s mission of democratizing access to solar energy for businesses. This partnership will accelerate the transition to a clean energy future and add a new asset class to Cross River’s lending portfolio. Cross River Digital Ventures also made an investment in Sunstone Credit.

Sunstone Credit has built a technology platform that provides solar developers with financing products for their SMB customers looking to go solar. Through the new partnership, Cross River will originate Sunstone Credit loans and provide API connectivity to Sunstone Credit’s platform.

“We are excited to partner with Sunstone to enter a market where there is an opportunity to leverage our technology-based lending platform to provide energy efficient products to commercial borrowers,” Adam Goller, executive vice president and head of fintech banking at Cross River, said. “Their experience, track record of success and product knowledge, combined with our technology and innovative approach to banking, will address this high-potential market at the scale that the market has come to expect from Cross River.”

“We are thrilled to partner with Cross River as we embark on this next stage of growth for our company and the SMB solar market,” Mike D’Andrade, co-founder and chief risk officer of Sunstone Credit, said. “We have always been impressed with Cross River’s forward lean on matters of technology and sustainability, and it has been clear from the beginning that they understand and are just as motivated by our mission to democratize access to solar for businesses, which this partnership will enable us to do. In addition, we are excited that they have chosen to deepen their commitment to our company through the strategic investment made by Cross River Digital Ventures.”

Formally launched in June of 2021, Cross River Digital Ventures serves as a partner for early-stage startups.

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