Billd is now working with Sunstone Credit, a solar lending finance platform for businesses, to accelerate the adoption of solar energy in the U.S. commercial space by providing the right size financing solutions to all stakeholders in the world. process.
Billd will offer his materials purchasing terms to Sunstone’s nationwide network of solar developer partners, allowing them greater working capital flexibility in completing solar projects for their business customers.
“Our product has proven to be a huge boost for solar entrepreneurs across the country and this partnership brings together the missing links for the industry,” said Spencer Carlson, Strategic Partnerships at Billd. “Solar entrepreneurs are our No.1 profession, which proves that we are solving a major problem for these companies and contributing to their accelerated growth. Partnering with Sunstone allows us to solve another problem for our customers. The combined solution will help us build even more value-added relationships with entrepreneurs in the commercial solar industry.
Billd has made great strides in the construction industry to provide financing terms that align with payment cycles. Subcontractors and suppliers are usually the last to be paid, waiting on average over 85 days. A recent report on the U.S. Market by Billd that surveyed over 500 contractors found that 63% of contractors pay for materials before they receive payment for their labor, while 74% of contractors have 30-day terms with their suppliers. or less. Billd strives to alleviate this financial burden and allow trade contractors to purchase commercial materials in advance and get projects up and running faster.
“We are delighted to partner with Billd, an industry leader who shares a similar mission to ours,” said Scott Muckleroy, vice president of finance at Sunstone. “At Sunstone, we strive to provide a best-in-class experience for our solar developer partners from start to finish, enabling them to sell to more business customers and grow their businesses. We are delighted that through this partnership with Billd, our partners can continue to offer the full line of Sunstone loan products to clients, but with more flexibility in managing their finances throughout the process.