$2M Credit Line for Sungevity

Sungevity, the Oakland, CA-based residential solar installation company that aims to become “the Amazon of solar electricity,” has received a $2 million line of credit from Bridge Bank, a subsidiary of San Jose, CA-based Bridge Capital Holdings, according to an announcement today. The financing will be used “to support and expand the company’s operations,” the announcement said. The borrowing comes close on the heels of a $15 million Series C funding round that closed last month, with Greener Capital, Firelake Capital, and Brightpath Capital Partners pitching in. “Sungevity is excited about placing our growing banking needs in the hands of Bridge Bank,” Sungevity chief financial officer Charles Ferer said in a statement. “Bridge has an experienced group of executives that understand the unique banking needs of the clean tech industry in general and solar in particular.”

Wade Roush is a freelance science and technology journalist and the producer and host of the podcast Soonish. Follow @soonishpodcast

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