Enium provides one of the most flexible loan products on the market. Approval can be nearly instantaneous (usually within a couple of minutes), and Enium allows 12 months of No Interest No Payments (NINP), starting at install completion. The NINP feature allows your customer ample time to realize tax credit savings and apply those toward the loan. After this initial 12 months, the loan automatically transitions into a 19 year term at a fixed 3.99% rate. The payment will calculate at the end of those 12 months NINP, and there are no prepayment penalties.
Click here to view additional information and lending criteria to determine if Enium is a good fit for your customer. Several useful criteria to be aware of as you match your customer with the best possible financing solution, include:
- 660 minimum FICO
- Debt to Income of 55% or lower
- Maximum lending amount of $75,000
- Vacation & second homes eligible, just not rental properties
As you build your customer’s solar proposal within the app, follow these steps to select, apply for, and ultimately attain Notice to Proceed (NTP) with an Enium loan:
- Tap the blue home & person icon to view project financing information.
- Tap to select financing.
3. Select ‘Enium’ from the drop down menu.
4. Hit ‘Calculate’.
5. Go back to the main screen of the proposal.
6. Tap the blue ‘Review agreement, sign up’ button in the bottom right corner.
7. Verify that all of the homeowner information is accurate.
8. Tap ‘Proceed to Proposal’ once the proposal is complete.
9. If it's your first time using Enium, create your username & password for access to Clean.Tech’s Enium portal by applying for access using this link: https://enium.com/access-request/. When applying, list Clean.Tech as the "Company" to gain access to our Enium portal. Complete the brief compliance requirements and Enium will notify you when your access is approved.
10. Once approved you can submit a credit application in Clean.Tech’s Enium portal here: https://goenium.com/
*Note: Be sure to enter the exact dollar amount from the Clean.Tech solar agreement in the loan application, as mismatches can require alterations to the application or the proposal and revisiting the customer for associated signatures
11. Enium will send loan documents to your customer for review and signature. They will also inform the homeowner if any stipulation docs, or “stips”, are needed to complete their loan application. (e.g. photo of drivers license, verification of income).
If you have any questions, call Enium at 844-500-9695 and press 1. Note: a Welcome Call with Enium is no longer required, yet know their Relationship Managers are available via phone or chat to offer any needed assistance.
12. Enium will conduct a direct call to the borrower AFTER initial stipulations are approved to confirm the borrowers understanding of the loan and terms.
13. Upon application approval, your homeowner will receive email notification to electronically sign their loan documents.
14. After your homeowner signs their loan documents, Clean.Tech will upload your solar agreement in the Enium portal and request Notice to Proceed (NTP) from Enium.
15. Once NTP has been granted, we assign your project to our Fulfillment Team to initiate plan set engineering, any site-audit audit activities, and prepare for permitting and installation.
16. 100% of your commission payment is issued once the final inspection has been passed and Enium forwards final funding to Clean.Tech.
We hope this has been helpful in better understanding Enium and how to utilize their loan products with your customers. If you have any additional questions about Enium, their loan products, and approval process, connect with us through the Chat support feature on your app, and reference our video library and help center.