Scottsdale, AZ, September 26, 2024 –Blu Banyan, which offers the award-winning SolarSuccess business management software to solar installers, created Blu Opportunity. “After seeing the difficulties many of our solar installers were having obtaining consumer financing for their clients, we decided to disrupt the existing solar market by creating an innovative lending platform with no hidden fees, competitive rates and clarity for homeowners,” says Jan Rippingale, Blu Banyan’s co-founder and CEO. “Our goal is to help solar installers deploy more solar faster and contribute to a greener, more sustainable world.”
The crowd-funded Blu Opportunity offers competitive interest rates and eliminates origination and dealer fees, which can increase a homeowners’ solar project’s cost by up to 42%, meaning that solar investments will yield a return much sooner. Loan processing, origination and servicing are all integrated with Blu Banyan’s SolarSuccess platform, simplifying and expediting the payment process. This means that solar installers receive payments directly and within 10 days of origination.
Concord Servicing, a leading loan servicing provider for residential solar companies, has been selected to service Blu Opportunity’s loan portfolio, ensuring professional and consumer-friendly payment servicing. “It’s a privilege to support a company that not only prioritizes environmental stewardship but also strives to make going green economically viable,” says Tom Myers, vice president of Partnership and Brand at Concord Servicing. “Because Concord was selected as Blu Opportunity’s loan servicer, solar installers are assured their loans will perform at the highest possible levels, meaning they will have a lower cost of capitol.”
“We know that solar installers face many challenges growing their businesses in this era of high interest rates,” Rippingale says. “With more than 4,500 solar projects in the pipeline for the remainder of 2024, there is an acute need for this initiative so we are thrilled to have put it in motion.”