Commercial Solar Financier Introduces First Ever Comprehensive Online Solar Loan Application
NEW YORK, Sept. 15, 2015 -- Open Energy, an innovative debt finance firm that provides solar project loans to solar developers and project owners through its unique marketplace lending model, today announced the launch of its new online platform, designed to streamline the loan application process. This is the first ever, comprehensive online loan application in the solar market - a significant industry milestone that brings the commercial solar industry one step closer to cutting prohibitive transaction costs and accessing financing quickly.
"In today's age you can do pretty much anything online, whether it's applying to lease a car or take out a mortgage - so, why not a solar project loan?" said Graham Smith, founder of Open Energy. "There is a clear gap in the industry, which we believe our new platform will fill by automating this process. Applying for a loan online is the next step necessary to kick start an industry currently poised for enormous growth. We're excited to roll out a tool that makes applying for a commercial solar project loan easier than ever."
Open Energy is launching its platform at Solar Power International (SPI), one of the largest solar conferences in the United States. With the new web portal, Open Energy is providing qualified developers and project owners with faster access to non-recourse debt financing for high-quality commercial solar power assets. The portal will streamline the loan application process by consolidating the due diligence required, reducing the time necessary to qualify a loan. The end result - solar project loan capital available quickly and inexpensively.
Also at SPI, Open Energy will be hosting another Beers with Solar Financiers, the company's signature event, which made its debut at Intersolar North America earlier this year. Beers with Solar Financiers is a networking event for investors and commercial solar developers. It will take place on Tuesday, September 15 in Anaheim, CA. For additional information, please visit www.openenergygroup.com.
About Open Energy
Open Energy provides innovative financing solutions to support the growth of commercial and industrial solar energy infrastructure. Open Energy's financing approach, utilizing an online marketplace to direct investment, is based on a technology-driven underwriting process. For borrowers, Open Energy offers increased access to capital and a time- and cost-efficient loan application process. For institutional and accredited investors, the strict risk methodology offered through Open Energy's proprietary online platform delivers a choice of renewable energy projects that deliver strong risk-adjusted returns. For more information about Open Energy and its loan technology process, please visit www.openenergygroup.com.