Lending > Best Lending Platform
Loanpal is the nation’s leader in new residential solar loans.
The company’s mission is to make a positive impact on the planet, build lasting relationships with its valued partners and customers, and deliver a tech-enabled lending experience that is simple, fast, and frictionless.
Loanpal connects financial institutions, partners, and homeowners for solar and energy efficiency projects. Loanpal has deployed more than $28 billion in loans over the past 16 years through its fintech platform that connects banks to high-quality borrowers for energy solutions resulting in 3 second approvals at the point-of-sale.
With a strengthened technology platform, Loanpal entered 2019 with a focus on improving its technology and product innovations which include:
The introduction of the industry’s first 25-Year Loan
Most solar loans have terms of 10-20 years. As solar technology has improved, so too has the lifecycle of those systems. With the increase in life of the system, Loanpal can now spread the cost over a larger period of time and offer consumers a lower monthly payment.
Stand-Alone Battery Financing: With over 2 million residential solar systems deployed in the US, the next step is to add new battery storage solutions to allow consumers the ability to store energy and deploy it when they need it most. , whether that is during high energy rate periods or if power grids are disrupted by storms and fire danger, often as a consequence of climate change. Loanpal has become the pioneer in stand-alone battery financing for this new clean energy technology.
Non Traditional Credit: Over the past decade, residential solar has only been available to those people with great credit. This has excluded a large group of consumers who didn’t qualify. Through the use of proprietary technology and data science, Loanpal facilitates opportunities for more consumers to qualify for solar loans.