Additional Information for Dividend Finance

State of Minnesota, by its Attorney General, Keith Ellison, Plaintiff, vs. GoodLeap LLC, Sunlight Financial LLC, Solar Mosaic LLC, and Dividend Solar Finance LLC,
The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the government’s allegations, which have not yet been proven.

On March 7, 2024, the Minnesota Attorney General filed a suit against Dividend Solar Finance LLC. (Case 27-CV-24-3558) along with 3 other solar lending companies, alleging the company violated Minnesota state law pertaining to deceptive trade practice, deceptive lending and of charging high rates of interest. 

According to court documents it is alleged that Dividend Solar Finance, deceived consumers into taking out loans with the false promise of low interest rates and applying hidden fees that increased the cost incurred by borrowers. The investigation found that Dividend Solar Finance dictated on how solar companies market and sell their loans. The arrangements between the company and some installers had consumers believing they were entering into loans with low interest rates. It is alleged that consumers were not given the true cost of financing their projects as the upfront fees were not included in sales proposals, or the disclosures. According to the charges, Dividend has received at least $2,323,7147.32 in upfront fees from Minnesota consumers. 

The case is currently pending.