Distributed solar lender Wunder Capital has signed a loan purchase agreement with private equity firm Fundamental Advisors.
The $200 million flexible forward flow agreement will allow Wunder to originate and execute loans before selling them to Fundamental.
Wunder typically lends between $100,000 and $5 million at a time, providing financing to customers of some 700 installers in over 30 states.
The company has already deployed most of the $100 million it raised in a similar deal with Cyrus Capital Partners last year (PFR, 4/19/18). Once the forward flow facilities are fully drawn, the aim is to securitize the underlying loans.
Fundamental, has dabbled in C&I solar before. In 2015, the firm teamed up with MMA Energy Capital to provide a $55 million loan to Conergy for a 27 MW seven-project portfolio in North Carolina (PFR, 10/7/15).