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EnFin

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6.9

Overall Score

LAST UPDATED: January 17th, 2024

With a number of incentive programs and the emergence of solar installers across the country, solar panels have become increasingly popular among homeowners. Despite the emergence of solar in residential settings, the cost of solar installation continues to be the main reason many interested clients decide not to take the plunge. 

Solar financing companies are bridging the gap for those who want solar but feel like they can't afford it. EnFin is simplifying the solar loan process and making it quick and easy to apply and get the necessary funds. 

Backed by a major U.S. solar panel manufacturer, EnFin is helping those in need of alternative solar financing qualify for loans that best suit their financial needs and situations without holding up the installation process. Partners interested in helping prospective solar customers gain access to EnFin financing will be able to do so. EnFin has partnered with Hatch Bank, a chartered financial institution, to supply the solar loans.

Please note that the company provides solar financing, but does not manufacture nor install solar systems.

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The Good

  • Proprietary Backing
  • Platform Benefits
  • Streamlined Process
  • Financed Equipment

Proprietary Backing

One unique aspect of the EnFin service is that the platform is backed by the solar manufacturing company Q Cells. Q Cells is a tier-1 solar manufacturer, most notably known for its high-quality solar panels. This partnership makes EnFin the first solar financing institution fully backed by a manufacturer, but not solely restricted to financing Q Cell equipment or projects.

Platform Benefits

When homeowners go through EnFin, there are a number of provider benefits that come as a result. These platform features are not always available, especially through competing solar loan companies. Platform benefits include:

  • High approval rates that take more than the credit score into consideration
  • Affordable terms that include reduced fees and fast funding so installation can begin
  • Streamlined process where it is easy for solar clients to get approved almost instantly
  • Experienced team allowing for faster installs

Streamlined Process

A common complaint of those that have to obtain solar financing prior to having a system installed is how long the process takes. EnFin has instituted a quality program with technological backing to make it quick and easy. Prospective clients will all undergo the same process:

  • Prequalify — complete a basic intake application to view qualified packages
  • Apply — the project contractor will send the application where clients will provide personal financial information
  • Credit decision — a decision is given instantly so all parties can move forward with the funding process
  • Contract and fund — Sign the contract and have funds disbursed directly to the contractor
  • Pay — clients can quickly connect bank information for automatic payment and a discount

Financed Equipment

Even though EnFin is backed by Q Cells, the financing platform is not solely restricted to financing projects that are having Q Cell equipment installed. It is true that EnFin can get homeowners the best rates when utilizing Q Cell solar equipment, but it is not required to obtain financing.

Traditionally within the solar industry, companies that partner with tier-1 solar manufacturers are restricted or limited to offering that equipment only. That is not the case for the EnFin platform. This allows for equipment flexibility and customization that prospective solar clients should appreciate. 

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The Bad

  • Solar Financing Only
  • Client Base
  • Undisclosed Interest Rates

Solar Financing Only

Customers who need additional financing resources will appreciaate EnFin's services. However, it is important to note that the company neither manufactures nor installs solar systems. 

Client Base

While many associate solar with residential properties, there are solar solutions for commercial properties and agricultural entities. These commercial and agricultural projects are often larger in scale compared to residential projects, which also means it will be more expensive to have solar installed.

Unfortunately, EnFin is strictly designed for residential solar projects. Those in need of solar financing for a commercial or agricultural project will have to find another financing partner or lender to complete the project. 

Undisclosed Interest Rates

A key selling point of the EnFin platform for homeowners specifically is that there are competitive interest rates available through the service. However, no interest rates or averages are publicly disclosed by EnFin.

Other solar financing providers will offer this information, or at least what interest rates are commonly offered to clients. This makes it difficult to determine the affordability of loans obtained through EnFin. 

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The Bottom Line

EnFin provides a solar financing service that streamlines the entire application and qualifying process. EnFin is the first solar financing provider that is backed by a solar manufacturing company in Q Cells.

Users using EnFin enjoy high approval rates, streamlined processes, and industry experts there for every step of the program. Even though EnFin is backed by Q Cells, customers do not have to install Q Cell equipment exclusively. 

There are a number of reasons to consider using the EnFin platform for solar financing needs, but there are drawbacks to the service prospective clients should be aware of as well. EnFin only helps residential clients obtain solar financing, so commercial and agricultural clients will have to look elsewhere for financing backing.

Despite claiming to offer competitive interest rates, EnFin has not disclosed what those average rates are making it difficult to compare to other providers.

Homeowners in need of a simplified solar loan service looking for financing backing to have a solar system installed will likely benefit from the services and solutions available through the EnFin platform. Companies looking to become a partner so that clients will have access to EnFin will also benefit from its technology and financial simplification. 

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Star Rating

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5.0

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39 Reviews

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90%

4 grade

8%

3 grade

3%

2 grade

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Craig Vicino Desert Hot Springs, CA

I was referred to EnFin by my solar installer. I had not heard of EnFin and did not know what to expect. I received a link to qualify for a loan and was very pleased to see that the form was very brief and asked only several questions. After receiving a positive qualification I was then sent a credit application and again it was brief and when I submitted the form I was notified almost immediately of approval. I then received the contract according to my specs and needs. I signed it contract on line and the next day received a call from a EnFin representative who very politely and professionally went through the contract with me answered all of my questions congratulated me on my decision to go solar and thanked me for choosing EnFin. The whole process was quick easy and professional. I am very pleased that my installer directed me to EnFin. Usually filling out a review I do not rank a company at 5 stars. I believe you should always leave room for improvement. However from my experience they really earned the 5 star review.

1 year ago

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Jason Rex New York, NY

Just started the process, but so far they seem up front and knowledgeable. I received a follow up call the day after submitting the application. That was nice and they answered a few extra questions about the process as well.

11 months ago

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Antonia o escobar Tampa, FL

From what I can hear and speak in with them. They are very respectful they help you. With every question you have. They don't beat around the Bush, they straightforward. This is a very good company. I give it five stars

11 months ago

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Jason Stuwe Redmond, OR

The process to obtain financing for our home solar system was very easy and streamlined. We were presented with what we felt was a very competitive interest rate on the loan by the solar company's rep and EnFin followed through with that exact rate. There support staff have been thorough with their follow through so far as well.

1 year ago

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Treasa Austin Jonesboro, AR

This has been by far one of the easiest applications and approval processes I have ever done with a finance company. Everyone I have dealt with has been extremely nice and helpful. I look forward to moving forward with EnFin!

1 year ago

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Gallo Ontario, CA

EnFin followed up with two calls from their customer service department inquiring if I had any questions. This morning's customer service caller never once mention I would be getting new loan documents. One concern I had in signing the loan documents was EnFin gave me inaccurate balance due totals which changed the payment after the total balance went up. They sent me a new loan contract with no explanation as to why I had to repeat the docu-sign process. I subsequently had to reexamine the new loan documents, thoroughly scrutinize the new loan, and redo the acceptance process over again. I just finished this re-signing and reevaluation of the updated loan. I rarely rate any business, however EnFin encouraged me to provide a rating so here I write. Overall it was an average experience.

1 year ago

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Diana Bowen

Easy as Apple Pie. Upon calling enfin, I spoke with a customer service representative which I believe is classified as a welcome call. She was very articulate and spoke slowly. The service was wonderful and I do highly rate Them.you They are very professional and a pleasure to deal with

9 months ago

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tate green Dallas, TX

This company is the only one my solar provider works with, and I can see why. This has been one of the easiest loan application and approval processes I ever experienced . Everyone I have spoken to has been so nice and helpful. I look forward to working with EnFin and getting my solar panels up and running!

10 months ago

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Naida Sanchez Brandon, FL

New to Solar Powers Systems. Enfin has made this process so easy it literally took 5 minutes or less to get approve, and the follow up call came immediately. Q&A section answers all your questions. I would definitely recommend anyone to go for it. Also, they have the best rates around. Thank you for that 1st Step. Naida S. Brandon, FL

11 months ago

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Aloe Ivy Collbran, CO

This far, I feel confident with Enfin as a lob provider. It’s fair to say it’s a little early for to make that call, but my initial interaction with their customer service has me sold. I was assisted in a positive manner in which all questions I had were addressed clearly and effectively allowing me peace of mind.

11 months ago

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Julie Reynolds Bend, OR

Really quick turnaround on the process of the loan and having a representative call me. Trevor was extremely nice on the phone and clear on all his answers to me. We look forward to our partnership with EnFIn Julie and Brian Reynolds

1 year ago

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Kelsey Jacobsen Los Angeles, CA

I am relatively early in the loan process with Enfin, but so far I don't have any complaints. Information has been clear and they went to the trouble to call and go over the terms of the loan after we had already discussed with our solar provider.

1 year ago

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Tina Rieth Pensacola, FL

Everything was so easy. So far everyone I have spoken to has been so professional and nice. Hope to continue business with them.

6 months ago

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david levin

Spoke with a representative from EnFin this morning who was very polite and informative. I am very glad EnFin is my solar finance provider.

8 months ago

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Naveed Huq Parsippany, NJ

The representative called and was very informative, explained all the detail terms and what to expect, unfortunately you cannot say that for many companies.

9 months ago

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TS San Diego, CA

Applied for a loan on Friday and was approved in minutes. Super fast and easy. Received a phone call Monday, explaining my solar process. Very friendly, informative and proffessional.

1 year ago Edited May 23, 2023

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Michael Cisneros Humble, TX

My experience was great, everyone was very helpful and informative. Michael Cisneros

8 months ago

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Todd Omel Sun City, CA

Great experience. Very helpful and informative. Trevor provided excellent customer support. Would recommend 100%!!!

9 months ago

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Rick Wright Locust Grove, OK

Great company they walk you step by step through everything and answer every last question you have.

10 months ago

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shawna mesa CA

They were very knowledgeable and left me feeling reassured that I had chosen the right company for my family needs.

11 months ago

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Cameron G

So far my experience has been great. Approved for the advertised terms and rate which almost never happens. Looking forward to having solar.

11 months ago

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Melissa McDonald, PA

Super excited about my install. Didn’t think there was a possibility to own solar panels and save money. The process has been smooth and great communication

1 year ago

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The Sharps

Quick responses and the person I spoke with, Trevor, was very clear on what he could and could not address and where I needed to go for the answers to the questions he could not answer.

1 year ago

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Bryan Webb Piñon Hills, CA

I really like how easy it was to apply and how I was given all the information without having to guess or ask!

1 year ago

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Shane O’Neill Lake Charles, LA

Everyone has been friendly and informative. Don’t feel like I’ve been deceived at any point of process.

9 months ago

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Michael Wahl Las Vegas, NV

Outstanding service and very responsive to all questions. So far this has been seamless on my part.

11 months ago

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Linda Metz Oceanside, CA

Excellent customer service so far. All terms and payment structure explained this morning. Looking forward to my solar installation.

1 year ago

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Stan Ziegler St Louis, MO

Very easy process and payment options along with a call to go though all the steps

1 year ago

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Robert Harris Raleigh, NC

Provided a very good rate, and the application was short and to the point.

1 year ago

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Runt1 Birmingham, AL

A good company to do business with. All that I have talked to are friendly yet professional.

1 year ago

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Fionna Larcom Peoria, IL

The process was fast and efficient and the representatives responded quickly.

1 year ago

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Carlos Aparicio Watsonville, CA

Enfin we're very helpful, attentive and answered all my questions

1 year ago

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Rich Meamber Los Angeles, CA

Smooth transaction and very competitive rates. Very easy to get in contact with.

1 year ago

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david osborn San Diego, CA

Clear, concise and comprehensible presentation.

1 year ago

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Chris Martinez Lakeside, CA

Very friendly during consultation and informative.

1 year ago

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Edward Dillon Cementon, PA

Fast and easy approval process with friendly customer service

1 year ago

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Nike VanArsdale Austin, CO

Easy to work with the friendly associates. And I got the loan to go solar.

1 year ago

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Ezra Dominguez

Smooth transaction and very competitive rates. Verification is outstanding.

1 year ago

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frogman0072

friendly and fast solar financing group.

1 year ago