CIT Energy Finance served as lead arranger in a senior secured credit facility of up to $120 million for Sunlight Financial, a provider of financing for the residential solar market.

Sunlight Financial is backed by private equity firms Tiger Infrastructure Partners and Hudson Clean Energy Partners. The facility will be used to partially fund loans to consumers purchasing residential solar panel systems. Financing was provided by CIT Bank.

“We are pleased to partner with CIT on this financing, as it will allow us to offer longer term solar loans to homeowners across the United States,” said Matt Potere, CEO of Sunlight Financial. “Sunlight Financial is well positioned to capitalize on the thriving residential solar market, which is projected to continue its growth and maturation over the coming years.”

“This is an exciting transaction that further demonstrates our commitment to supporting the renewable energy sector,” said Mike Lorusso, group head of CIT Energy Finance. “Our deep industry expertise enabled us to design a creative financing solution for Sunlight Financial. We look forward to building on this relationship and continuing our leadership in the solar sector.”