Solar loan company Dividend Finance will start originating loans financed by KeyBank, providing the bankвЂ™s financing close to unique domestic solar loans.
The offer, involving a big bank and the solar loan company rated 3rd within the country by Wood Mackenzie Power & Renewables, is a component of a growing trend highlighted by market analysts: more domestic solar loan providers originating loans on behalf of banking institutions like banking institutions and credit unions.
By experiencing funds from bigger banking institutions, solar loan professionals desire to achieve more customers than they are able to by lending just their very own money. These types of plans typically deliver a lowered price of money to clients, while linking banks with clients they may maybe not have reached otherwise.
The partnership between KeyBank and Dividend, a provider which have currently caused credit unions, is probably the very first to add a bank that is large.
вЂњDividend feels it is a landmark partnership for all of us,вЂќ stated Henry Bowling, the business’s senior vice president of depository partnerships. вЂњGreenSky is truly truly the only other loan provider into the service-contracting room this is certainly partnered with [Office of this Comptroller of this banks that are currency]-regulated this structure.вЂќKEEP READING