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What application information is required, and when?

At Wunder, we do our best to make sure that we are only requesting information that we absolutely need at each stage of the process. Our review process is split into multiple steps so that if there is an obvious red flag in your application, we can identify it right away.

Below you will find a list of the information that we require at each stage of the review process. While this list is comprehensive for most projects, Wunder may need to request additional information or documentation to complete the diligence process. Documents can be provided by the borrower or by the Wunder Partner.

STEP 1: INITIAL APPLICATION
The initial application can generally be completed by the Partner on behalf of the customer. It requires basic information about the Loan Request, Project Actors, Project Site, and System Design. You can access the Financing Application here.

Milestone 1: Prelim Term Sheet
The provision of a Preliminary Term Sheet indicates that Wunder financing may be a good fit for your project. The additional information collected in Step 2 will confirm project and borrower eligibility and may result in a final financing offer. (See: "I got a prelim term sheet, now what?")

STEP 2: FINAL DILIGENCE DOCUMENTATION

  • Financial History
    Three years of financial operating history provided in the form of P&L statements and annual tax returns.

  • Outstanding Debt Form
    Borrower must provide more detail about any debt payments currently being made to any other lenders. Wunder will provide the submission form.

  • Formation Documents
    Borrower’s certificate of incorporation, certificate of formation, or similar documents filed with borrower’s state of formation. This request also includes any documentation recording legal name changes.

  • Operating Agreement
    If available. Borrower’s organizational documents created at formation that set forth rules of governance and equity ownership. This requirement can also be fulfilled with ‘Company Bylaws’ or ‘Organizational Authority’.

  • Site Utility Bills
    Documentation which provides proof of borrower’s utility account, utility rate, and annual consumption history.

  • Proof of Ownership or Occupancy
    If multiple actors are involved or appropriate records not found in initial diligence, Wunder may request proof of borrower’s site ownership, proof of corporate linkage between ownership entity and occupying entity, or proof of site lease.

Milestone 2: Final Approval
Wunder's credit committee will decide whether to approve the project for financing and initiate contracting. Documents in Step 3 are required to draw up the final contracts.

STEP 3: CONTRACT INFO & DOCUMENTATION

  • Installation Contract
    Executed installation contract(s) between the Wunder Partner and any third party subcontractors involved in project construction.

  • Executed Project Contract
    Executed contract between borrower and the Wunder Partner for the procurement of the energy system being financed.

  • Incentive Docs
    If an application is required for receipt of state and/or utility incentives, please provide proof of confirmed receipt or registration from issuing authority.

  • Disbursement Window
    Confirmation of 4-week disbursement window within which Wunder Partner expects the project to reach substantial completion.

Milestone 3: Contract Execution
Wunder will provide a loan contract package for the Borrower's electronic signature. The borrower may request a call with a Wunder representative to review language and debt servicing procedures.

STEP 4: DISBURSEMENT CONDITIONS

  • Proof of Insurance Coverage
    Certificates for customer's general liability and property insurance policies. Wunder must be named as an additional insured on both policies.

  • Proof of Inspection
    Documentation confirming the successful electrical inspection of the system by appropriate city or county authority.

  • Payment Account Connection
    Borrower must connect a payment account through the Wunder Borrower Portal for automated monthly debt servicing.

  • Disbursal Approval
    Wunder will request electronic confirmation from borrower before disbursing funds on their behalf.

Milestone 4: Disbursement of Funds

This list changes slightly if you are seeking debt capital for a structured finance deal. Find the version for third-party owned (TPO) deals here

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