Sunstone Credit, a clean energy financing platform that helps businesses go solar, has acquired commercial solar lender ORKA Finance.
Due to financial incentives, customer preferences for sustainability, and the need for resilient power access, businesses of all sizes are increasingly adopting solar energy – and experts expect that popularity to grow. However, despite the many advantages of solar for businesses, most companies have lacked access to loan financing for solar installations in the past, forcing them to pay cash, use a more cumbersome financing solution, or forgo the benefits of solar altogether.
As a large commercial solar fintech platform, Sunstone is on a mission to close this gap and help more businesses go solar by providing simple and cost-effective loan financing. Available at the point of sale through a national network of solar installer partners, Sunstone’s solar finance offering allows businesses of all sizes to reap the substantial benefits of going solar and owning their own solar system.
Through the acquisition of ORKA, Sunstone expects to be able to serve more contractors and businesses with its proprietary technology platform that makes financing commercial solar projects easier and more cost-effective for businesses and nonprofits.
“ORKA has built an impressive program evaluating businesses for solar loans efficiently, helping those businesses access the many benefits of solar more quickly,” said Josh Goldberg, CEO and co-founder of Sunstone. “This acquisition gets us one step closer to helping more businesses across the country do the same.”
As part of the acquisition, key members of the ORKA team, including founder and CEO Ted Fawcett, will join Sunstone as advisors.
News item from Sunstone