James Lester :
SunFunder is a crowdfunding similar to Solar Mosaic with a more internatuional,developing economy focus. SunFunder has developed strong partnerships with solar energy businesses around the world. These businesses provide affordable solar energy solutions to underserved communities, but the lack of access to financing prevents them from scaling up. By investing through SunFunder, a prospective investor will provide the financing that will make affordable solar energy available to people around the world.
Each solar project featured on the SunFunder platform is a partnership with one of these solar businesses. SunFunder conducts due diligence on each solar partner and works with them to post projects on the platform. Once a project is fully funded, SunFunder facilitates low-cost financing to the solar partner to fund the implementation of the project. During the financing term, as the solar partner receives payments from their customers (typically the people who directly benefit from solar), the partner makes repayments to SunFunder. SunFunder then repays investors, who earn back their principal investment and receive ‘Impact Points’. Both the principal repayment and Impact Points can then be used to reinvest in more projects.
Depending upon the final crowdfunding ruling from the SEC and FINRA, SunFunder may become an investment platform that offers additional value to investors beyond the return of principal. Thus far, SunFunder has fully funded a project in the Phillipines which will bring 100 solar powered lamps with mobile phone charging capability to households in the islands of Palawan. This will enable roughly 500 people to gain more productive hours each day to pursue livelihood opportunities, study, and spend meaningful time with their families. A second project in Chadiza, Zambia has funded a loan to purchase and sell approximately 781 solar-powered lights to families, impacting over 3,900 people’s lives. The sales will take place through a solar schools campaign, which provides lighting to students and their families at a discount. Students use their solar lights to study by and to charge mobile phones."