Solar Installer Program

Steps to funding:

1. First, your client needs to submit the intake form, sharing high-level details about the solar project.
2. Within approximately two business days of submitting the form, our solar financing team will review and request additional documents to support your client’s application if the solar project meets our criteria. The additional documents needed might include: a site map, quote, feasibility study, and the organization’s financial statements.
3. Once the documents are received, our team will review the documentation and will schedule an introductory call with your client. In the call we’ll discuss next steps and any outstanding questions before preparing a Letter of Interest outlining our financing terms.
4. After the client has reviewed our terms and is ready to proceed, we will prepare a full credit application and, within four weeks*, provide a credit decision and funding timeline based on the project’s schedule. We will then issue a Commitment Letter – a formal binding agreement between a lender and a borrower.
5. Finally, we will prepare all required security documentation and registrations, and will work with you and your client to ensure that funds are sent to the appropriate bank account based on the pre-determined funding schedule.

*If you are part of our Solar Installer Partner Program, our team guarantees a 4-week processing time for all your commercial clients – from the moment the loan application is received to a Commitment Letter being issued.

In order to complete an application and ensure a speedy turnaround, clients should have the following documents prepared to be reviewed:

• A site map of the property (not required but preferred).
• Quote and/or feasibility study from the solar developer or installer.
• Year-end financial statements of the business from the past two fiscal years.
• This year’s YTD financial statements  (if available).

Other documents may be requested after an introductory call with our solar financing team.

VCIB will register security on the solar equipment (panels). This may require a mortgagee waiver to be signed by the client’s existing bank or lender; it will not disrupt the borrowing relationship. We will also ask for a GSA (General Security Agreement), which may be subordinated to an existing lender.

We will work with you and your client to ensure funds are made available for every key milestone of the project. We can create up to four draws of the total amount, and the minimum for each draw is $100,000.

You don’t need to sign a contract.

We will simply send over a memorandum of understanding (MOU) over email. The MOU will outline aspects of the partner program, such as: Branding use, communication expectations, parameters for solar projects & clients that we are open to working with. Once you receive it, you just need to reply to that email saying that you understand these terms.

No, you don’t need to pay any fee to be a part of this program.

Read the “Installers who can qualify” section to learn if you can qualify for the program. If you want to be a part of this program, the only thing we ask in return is that you refer us to your commercial clients seeking solar financing, and that you add VCIB to your website.