Equipment financing
Sunstone Credit
Sunstone Credit is a New York lender that finances commercial property improvements for businesses and non-profits, covering solar, battery storage, HVAC, roofing and EV charging. Loans are originated through the contractor or installer doing the work rather than sold direct to the property owner.
Contractors apply to join the network, sign a participation agreement and complete training, a process the company says can take as little as two weeks from a completed application. Everything runs online: partners see status updates as the borrower moves through application and underwriting, borrowers upload documents through the portal, and rates and fees for existing partners sit in the portal's resources section. Approval is based on the borrower's creditworthiness rather than the terms the installer quoted.
Terms run 5 to 20 years, loan sizes start at $50,000, financing can cover 100% of project cost, and there is no prepayment penalty unless a specific product says otherwise. Sunstone also lends to companies that develop and own solar projects and offers power purchase agreements through a partner. Certain Sunstone loans are issued by Cross River Bank, Member FDIC, and the office is at 37 W 20th Street in New York.
Sunstone charges the developer a fixed percentage of the loan amount, which varies with term and rate, and multiple interest rate options exist for each term. Exact product pricing is quoted rather than published.
Best for
Contractors and solar developers who need a financing option for small and mid-size commercial or non-profit customers, and owners financing a facility upgrade of $50,000 or more.
What they do
- Commercial solar loans
- Battery storage financing
- HVAC and roofing project financing
- EV charging station financing
- Lending to solar developers and project owners
- Power purchase agreements through a partner
- Installer and contractor financing platform
Details
| Attribute | Value |
|---|---|
| How they charge | Sunstone charges the developer a fixed percentage of the loan amount, varying with term and interest rate; borrower rates are quoted per product. |
What stands out
- Loan terms run 5 to 20 years, with sizes from $50,000 up and 100% financing available.
- No prepayment penalty unless a specific product states otherwise.
- The developer, not the borrower, pays a fixed percentage of the loan amount.
- Certain Sunstone loans are issued by Cross River Bank, Member FDIC.
- Partner onboarding can take as little as two weeks from a completed application.
Common questions
- What is the minimum loan size?
- $50,000. Sunstone states that its underwriting criteria and fees are the same regardless of project size, and that it underwrites a $50,000 loan on the same basis as a multimillion dollar one.
- Does Sunstone finance battery storage?
- Yes. Sunstone finances standalone battery storage as well as combined solar and storage projects.
- What does an installer need to qualify as a partner?
- There are no hard requirements; every potential partner is evaluated case by case. Sunstone names revenue over $1 million a year and the successful installation of several systems over 50kW as positive indicators.
- Is there a prepayment penalty on Sunstone loans?
- No. Unless a specific product notes otherwise, Sunstone loans carry no prepayment penalty.