1Step one.  Apply Now, it only takes minutes

2Step two.  We evaluate your equipment financing needs

3Step three. Get Approved Receive Financing

Solar Financing
through EquipmentLend

Solar Financing through EquipmentLend

Leverage policies and incentives centered around commercial photovoltaic solar systems to curb your utility expenses. Our dedicated financing professionals maintain robust relationships with esteemed developers and panel producers, enabling them to craft a customized financing plan for your business’s photovoltaic (PV) solar systems.

  • Term loans from
    $5,000 to $750,000

  • Decision as fast as 24 hours and funds in as few as 3 days

  • Term lengths from 3
    months up to 5 years

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Get a Solar Financing Loan made exclusively for your businesses

A Solar Financing Loan is a lump sum of capital that you pay back with regular repayments at a fixed interest rate—this type of traditional financing is what most people think of when it comes to equipment finance loans.

Get a Solar Financing Loan through EquipmentLend to:

  • Financing for  EquipmentLend clients with commercial solar systems in the U.S.

  • Loan and lease structures for transactions of $500,000 and above

  • Fixed or floating rates for up to 10 years

  • Terms and structures customized to address cash flow, business, tax, and accounting needs

  • Financing up to 100% of the equipment cost

  • Off-balance sheet financing for qualified transactions

  • Modeling support to assist with evaluating project economics

Qualifications for Solar Financing – 24 Hour Approval

Established Business Bank Account

ANNUAL REVENUE

680

CREDIT SCORE

12 Months

TIME IN BUSINESS

*Based on past EquipmentLend Customers

Solar Financing Loans Frequently Asked Questions

A Solar Financing Loan is a financial product specifically designed to assist homeowners or businesses in covering the cost of installing solar power systems. These loans function much like other types of loans: the lender provides funds upfront, which are then paid back, with interest, over a set period of time. The unique aspect of these loans is their purpose – to finance the purchase and installation of solar panels and related equipment, thereby promoting renewable energy and offering substantial savings on energy costs over the long term.

A Solar Financing Loan operates similarly to other traditional loans, but with the specific intent to fund the installation of solar power systems. Here’s a basic breakdown of how it works:

  • Application Process: The borrower (a homeowner or business) applies for a solar financing loan through a financial institution or a lender specializing in solar energy projects.
  • Loan Approval and Funding: If the application is approved, the lender provides the funds needed to purchase and install the solar panel system.
  • Repayment: The borrower then repays the loan over a set period of time (the loan term), typically with monthly payments.
  • Ownership and Benefits: The essential advantage of a solar financing loan, as opposed to leasing or power purchase agreements, is that the borrower owns the solar system from the start. This means they’re eligible for any tax credits, incentives, or rebates available for solar power system owners
  • Refinancing or Selling: If the property is sold before the loan is fully repaid, the remaining balance is usually paid off at the time of sale.

A Solar Financing Loan is primarily used to cover the costs associated with the installation of a solar power system. Here’s a detailed breakdown of what the loan can be used for:

  1. Solar Panels: The main component of a solar power system is the solar panels themselves. These panels convert sunlight into electricity. The number of panels required depends on the energy needs of your home or business.
  2. Inverters: Inverters are crucial components of a solar power system that convert the direct current (DC) generated by solar panels into alternating current (AC), which is usable by most home appliances and the electrical grid.
  3. Installation Costs: This includes labor costs associated with the physical installation of the solar panels on your roof or other locations, as well as the installation of the inverter and wiring to connect the system to your home or business.
  4. Balance of System (BOS) Equipment: This refers to additional necessary equipment for the solar system, including mounting hardware, wiring, connectors, and more.
  5. Permitting and Inspection Fees: Depending on your location, you may need to pay for permits and inspections before and after the solar system installation.
  6. Battery Storage Systems: If you’re installing a battery storage system (to store excess solar power for use when the sun isn’t shining), the cost of the batteries can also be covered by a solar financing loan.
  7. Maintenance and Repair: Some lenders may allow for a portion of the loan to be used for future maintenance and repair costs, ensuring the longevity of the system.

In essence, a Solar Financing Loan is designed to cover all costs related to purchasing, installing, and maintaining a solar power system. The goal is to make the switch to solar energy as straightforward and financially feasible as possible for homeowners and businesses.

Your business must be established for over 12 months and have a credit score of 680 or better.

Create your future now!

Don’t let another valuable moment slip away! Begin expanding your equipment-based business today.

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