CommonBond announced the launch of its new solar financing activity. By providing affordable financing options for installing solar panels, the company is helping more homeowners save money on their monthly electricity bill and reduce their carbon footprint.
Best known for its student loan business, CommonBond launched its “stealth mode” solar financing business in Q3 2021 and is already on track to complete $1 billion in solar origination in 2022.
“We’ve built best-in-class lending technology that enables speed, simplicity and savings for customers across multiple product categories,” said David Klein, CEO and co-founder of CommonBond. “Our mission has always been to provide our customers with differentiated products that meet their ever-changing financial needs, and Solar is our next big product at scale.”
“We believe that cost and awareness are two major barriers to residential solar adoption,” said Robb Granado, president of CommonBond. “CommonBond has created a unique set of capabilities for solar installers and homeowners to overcome these barriers.”
There are three ways solar installers can work with CommonBond to increase sales velocity and provide best-in-class service to their customers:
- API-based POS integrations for a fully integrated sales and finance experience
- Web-based and app-based point-of-sale portals for installers to quickly and easily access CommonBond financing solutions
- Integrations with leading solar proposal generation tools
“Our technology reduces costs for installers and owners. And the friendly service we’re known for is a breath of fresh air for everyone,” Granado said.
CommonBond news article