Climate First Bank Unveils Revolutionary Digital Solar Lending Platform


ST. PETERSBURG, Fla., May 17, 2022 (GLOBE NEWSWIRE) — Climate First Bank, the world’s first FDIC-insured community bank founded to address the climate crisis, officially launches its digital solar lending platform today. Accessible at https://apply.climatefirstbank.com/solar-loan, the experience makes it quick and easy for Florida residents to apply for specialized solar energy financing anytime, anywhere, at no cost. of dealer. The expedited process – aided by a streamlined online application process and real-time approvals – allows most clients to be approved for up to 100% financing with no down payment in less than 48 business hours. The first 100 loans generated through the platform will enjoy a special promotion of 3.99% APR** for 25 years without broker fees.

Deceptive solar loan financiers lure customers by boasting of low-interest loans with exceptionally low payments, but there’s a catch – undisclosed dealer fees that amount to more than 25% of the total system cost. These hidden costs are billed to the installer of the solar panel and then passed on to the consumer, resulting in a higher total cost. For example, a $30,000 solar power system could mean up to $7,500 in undisclosed costs. This means that a $30,000 system could cost $37,500. Not only does this negatively impact the customer, it affects the entire solar credit industry, as those looking to do good for the planet are deterred by predatory practices and unfair spending.

In partnership with the country’s top solar installers, Climate First Bank’s CTO, Marcio DeOliveira, developed this proprietary technology to bring transparency and openness to solar energy financing. Along with a low monthly payment option, customers can pay off their loan in full at any time without any penalties or prepayment charges and keep their 26% tax credit. Any payment made in addition to the contractual monthly installment will be applied to a reduction in the principal balance of the loan.

“Now, with just a few clicks, clients can increase property value, dramatically reduce or even eliminate costs, and save the planet by investing in renewable solar energy,” said Ken LaRoe, Founder and CEO of Climate First Bank. . “I wish something so simple had existed when I was installing solar power on my house.”

“Our robust tool is the next step towards sustainable lending, making it easier for anyone to install a solar panel on their roof,” said Climate First Bank President Lex Ford. “With our transparent solar financing, consumers can purchase a solar power system at no additional cost or undisclosed fee. Customers, installers, and the planet all win with this new platform.”

Climate First Bank is interested in partnering with Florida’s top residential and commercial solar PV installers. Those interested in participating in the loan program and becoming a preferred partner can visit https://apply.climatefirstbank.com/solar-installers. Benefits include a dedicated personal banker, fast approvals, fast processing, 50% payout at the start of the project and 50% payout at the end of the project.

**Annual percentage rate. APR in force on 05/17/2022. Loan subject to approval – Example based on a financed amount of $50,000 over 25 years; 4 interest only payments; 296 principal and interest payments of $265.84 with a simple interest rate of 3.94%.

About Climate First Bank
Climate First Bank is a values-based community bank offering a comprehensive, full-service portfolio of simple, easy-to-use traditional banking products. These products are powered by high technology to meet the expectations of today’s consumers. In addition to offering standard banking services, the company places particular emphasis on non-governmental organizations (NGOs) and companies committed to sustainability. Environmentally conscious customers will find loan options dedicated to solar photovoltaic (PV), energy retrofits and infrastructure to help tackle the climate crisis. FDIC member.

Media Contact
Ericka Rivera
Thunderous PR for Climate First Bank
[email protected]


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