Bank Watch

Sunlight Financial to triple Charlotte employment in coming year

Sunlight Financial, a New Jersey company that gives loans to homeowners installing solar-energy systems, on Wednesday announced a funding injection allowing it to expand its one-year-old Charlotte hub at Packard Place.
Sunlight Financial, a New Jersey company that gives loans to homeowners installing solar-energy systems, on Wednesday announced a funding injection allowing it to expand its one-year-old Charlotte hub at Packard Place. elyportillo@charlotteobserver.com

Sunlight Financial, a New Jersey company that gives loans to homeowners installing solar-energy systems, on Wednesday announced a funding injection allowing it to expand its one-year-old Charlotte hub.

The Teaneck-based company, which started operations in 2014, said the $130 million partnership with Virginia-based Route 66 Ventures will help Sunlight expand its Charlotte operations center. Plans call for employment at the center in uptown’s Packard Place to grow from 20 currently to about 60 over the next year.

CEO Matt Potere, a former Bank of America executive who joined Sunlight last year, said the Charlotte center processes loans and handles calls from customers and installers. He said the company has experienced “tremendous” growth as loans rapidly become the preferred option for homeowners buying solar systems like rooftop panels.

Just a year ago, the Charlotte center employed only three people, Potere said. Sunlight opened the Charlotte hub partly because of its deep pool of financial services talent and the region’s attractiveness for recruiting employees, he said.

Sunlight said Route 66 will purchase loans and provide funding of up to $130 million. In addition to the Charlotte expansion, Sunlight said the investment will allow it to introduce new financing products and partner with more solar system installers.

Deon Roberts: 704-358-5248, @DeonERoberts

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