Commercial solar loans with OneEthos have a different set of lending criteria than our residential solar loans. We require the commercial loan applicant to upload the following:
2 years of income verification for all owners of the company above 20% ownership.
2 years of business tax returns for the company.
Current year-to-date profit-and-loss and balance sheet.
For loans of less than $150K that qualify, the OneEthos FastTrack program allows for commercial solar applicants to apply while being underwritten by the owner's personal financials, avoiding the need to provide business financials.
The bank will review these applications on a case-by-case basis to determine the credit worthiness. For other simple loans less than $500,000, the customer may be able to an instant preliminary decision upon application submit.