Sunlight Financial, a specialty finance company providing point-of-sale financing solutions for residential solar and home improvements, announced assistance to borrowers who may be impacted financially by COVID-19 and have difficulty making payments on their loans.
Sunlight Financial and its lending partners worked closely together to establish several financial hardship assistance programs to address the financial stress that their solar and home improvement loan borrowers may be experiencing. Borrowers who have been financially impacted by COVID-19 can learn about the programs by contacting Sunlight Financial at (888) 850-3359.
“We know how much change and uncertainty homeowners are facing and how stressful it can be when financial hardships occur,” said Matt Potere, CEO of Sunlight Financial. “We care for the health and well-being of all our customers and want to assure them that we are here to assist.”
News item from Sunlight Financial
Can you refinance a solar loan
Hi! As part of the stimulus program from the federal government, the Federal Reserve had aggressively lowered their policy rate to close to cero (0.25% to be exact). The obvious purpose is to lower the cost of money so people and business can borrow cheaply to overcome their hardships and move forward. All central banks from all over the world has done the same.
As a result, interest rates have lowered across al financial markets, excepts (so it seems) the solar industry. I used to be a corporate finance guy until I fell in love with the energy efficiency and renewable industry, recognizing it as Jeremy Riffkin puts it, the “new engine for the new paradigm for a world revolutin”; hence I left the finance world (and my passion for business journalism) to work for this new energy industry.
I can tell you for a fact, that the greatest cost incentive the residential and commercial solar markets can have right now is to lower the high interest and dealer fees, to consequentially lower monthly payments to clients investing in new solar systems. Curiously, I haven’t seen anybody addresssing this angle (not even the SEIA). Please considering covering this issue (why lenders like Sunlgiht Financial, Loan Pal nor Mosaic, are not lowering their rates and/or dealer fees), and I can guarantee you would do not only a great service, to solar clients, but also a great contribution to this market. Thanks and regards,