Sunstone Credit: a case study on streamlining financing for solar energy businesses
My role
Responsible for in-depth research, product discovery, and design management of the Sunstone web application
Platform
Web
Team members
Malik Mbaye (Head of Products)
Omnicreativora (UI designer)
Duration
8 weeks (Design & Testing)
Overview
Sunstone Credit, a climate-conscious fintech company, tackles a critical hurdle in widespread solar energy adoption - financing for small and medium-sized businesses (SMBs). Their mission is to unlock the potential of solar power for SMBs by simplifying the financing process and making it more accessible.
Identifying challenges
While researching on Sunstone Credit we identified several challenges that has hindered the growth of solar energy adoption, particularly for SMBs. Let's delve deeper into these challenges:
The financing process often involves multiple parties like installers, lenders, and government agencies. This can be cumbersome and time-consuming for SMBs, leading to frustration and delays.
Solar Installers lack financial tools or resources to offer loans or financing options directly to their customers. This have limited their ability to close deals and grow the solar business.
SMBs are not fully aware of the financial benefits of solar energy or the available financing options.
Traditional lenders might view SMBs as higher-risk borrowers, making it difficult for them to secure loans for solar projects.
Financial institutions lack access to a large pool of qualified borrowers in the solar energy sector, limiting their loan growth potential.
Financial institutions might be hesitant to invest in ESG (Environmental, Social, and Governance) initiatives like solar energy due to perceived risks or lack of expertise in this area.
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Streamlining solutions
Sunstone Credit's innovative platform streamlines the financing process for all stakeholders:
01
SMBs: Gain access to transparent financing options for solar installations, facilitating cost savings and a reduced carbon footprint.
02
Installers: Offer loan options directly to customers, increasing deal flow and business growth.
03
Financial Institutions: Tap into a new pool of qualified borrowers and contribute to a sustainable future through ESG (Environmental, Social, and Governance) investments.
Design process
Improving and creating something unique is the essence of adopting design processes. It's a journey that transports us from challenges to discoveries and innovation, leading to the emergence of solutions. Allow us to walk you through the processes we adopted in streamlining solar solutions for businesses.
Information Gathering and Understanding User Problems
Research and Conceptualization
Ideationand Sketching
Highlighting Key features
Loan Application
Sunstone Credit removes the hassle from solar financing. Our online application for process is designed for ease:
1. Applicant Information: Provide basic business details and property information.
2. Minimal Documents: Upload a few key documents for quick review.
3. Transparent Review: Our team assesses your application efficiently.
4. E-Signature Convenience: Sign your loan agreement electronically for a seamless experience.
5. Completion Notification: Get updates and celebrate a completed application!
Installer Dashboard
Sunstone Credit creates a world where solar installers close solar deals effortless. Sunstone Credit's Installer Dashboard is your portal to a streamlined future. It's like having a personal assistant constantly tracking your progress:
1. Applicants: See the big picture – every loan application you've submitted, a testament to your growing impact.
2. Loan Status: Track deals in progress, ensuring no lead gets lost in the shuffle. Monitor progress and stay informed every step of the way.
3. Completed Loans: Celebrate your success! This section showcases your completed projects, a gallery of businesses you've helped transition to clean energy.
From Prospect to Powerhouse
The sun shines brightest on those who chase bold ideas. At Sunstone Credit, we believe installers are the architects of a greener future. That's why we created an onboarding process as smooth as a freshly installed solar panel.
Imagine joining a community of like-minded professionals with just a few clicks. Our installer application is designed to tell your story:
1.Share Your Expertise: Highlight your solar experience and practices, showcasing your commitment to clean energy solutions.
2.Let's Get to Know You Better: Briefly share essential business information, company management structure, and equity ownership details.
3.Licensed to Illuminate: Provide state licensing information to ensure seamless qualification.
4.Financial Transparency: Upload basic financial statements – a peek under the hood to ensure a healthy partnership.
5.Everything Above Board: Review and acknowledge legal disclosures for complete transparency.
Conclusion
Sunstone Credit's success highlights a crucial message: innovative solutions are the key to unlocking a sustainable future. By simplifying financing and fostering collaboration, we've made clean energy a more accessible reality for businesses. As Sunstone Credit's platform scales and partnerships expand, the impact will be undeniable – a brighter future, powered by the sun, one application at a time. Sunstone Credit's story is a testament to the transformative power of design thinking. By tackling the complexities of solar financing for SMBs, we've crafted a solution that benefits businesses, installers, and the environment. Our platform streamlines loan applications, empowers installers, and connects all parties involved in the solar ecosystem.
