PALM BEACH, Fla.--(BUSINESS WIRE)--Today, Leaf Solar Power LLC and LightStream announce a strategic relationship to provide homeowners up to $100,000 in financing for residential solar power projects.
The partnership supports the Leaf Solar Power Loan Program in the U.S., expanding the financing options available to people with good credit who are interested in owning high-efficiency Leaf Solar Power systems. Under the program borrowers may apply for an unsecured, fixed rate LightStream loan to install a Leaf Solar Power system.
“As a lending leader for residential solar power systems, LightStream supports consumers interested in Leaf Solar Power’s high performance solar systems,” said LightStream Todd Nelson, Business Development Officer. “We stand behind families and communities that choose to maximize their savings and minimize their carbon footprint. We back those efforts by offering streamlined financing that requires no appraisals and no fees. We have an entirely online process where people complete a simple form and may have their approval - and funds in their bank account - often as soon as the day they apply.”
LightStream is available in all 50 states and Washington, D.C. Rates for LightStream solar loans are currently as low as 4.99%APR with AutoPay.*
LightStream financing enables Leaf Solar Power to expand its residential loan program to allow more U.S. homeowners to own the most efficient and reliable solar technology available. According to LSP, in some cases loan payments may be equal or less than a homeowner’s current utility bill. Once the loan is paid off, the homeowner will own a system that can produce clean electricity for the life of the system. They may also benefit from increased home value as a result of the solar system on the roof.
In addition to owning the most efficient solar technology, Leaf Solar Power system owners also benefit from a 25-year product warranty. Leaf Solar Power loans may also allow homeowners to take advantage of the 30% federal tax credit now available for installing solar power systems, as well as additional incentives offered by many states and municipalities.
In several states, Leaf Solar Power also offers the Leaf Lease Program, featuring low monthly payments with zero down.
About Lightstream, a Division of SunTrust Bank
LightStream is a national online lending division of SunTrust Bank, providing good to excellent credit customers with competitive rates and an outstanding customer experience. LightStream’s proprietary technology offers consumers a virtually paperless loan application, underwriting, funding and servicing experience. In 2012, SunTrust Bank acquired the assets of online consumer lending company FirstAgain LLC and re-launched the business as LightStream. For more information visit Lightstream.com.
SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of June 30, 2014, SunTrust had total assets of $182.6 billion and total deposits of $133.3 billion. Through its flagship subsidiary, SunTrust Bank, the company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The company also serves clients in selected markets nationally. Learn more at suntrust.com
About Leaf Solar Power LLC
Leaf Solar Power, designs, installs and delivers the highest efficiency, highest Quality solar panels and systems available today. Residential, business, government and utility customers rely on the company’s experience and guaranteed performance to provide maximum return on investment throughout the life of their solar system. www.leafsolarpower.com.
* Rate is accurate as of 08/04/14. The APR listed is for an unsecured loan between $10,000 and $24,999 with a term between 24 and 36 months, for the purpose of a Solar Loan. APR may differ based on loan purpose, amount, term, and your credit profile. Rate is quoted with AutoPay repayment option. Rates under the invoicing option are 0.50% higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice.
Payment example: Monthly payments for a $10,000 loan at 4.99% APR with term of 3 years would result in 36 monthly payments of $299.66.