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  "documentTitle": "Sunlight Financial | SPAC Presentation Deck | 40 slides",
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  "authorName": "Sunlight Financial",
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  "presentationDate": "2021-01-01 00:00:00",
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  "notes": "The slide uses a timeline-based process flow to explain the conversion funnel of solar loans.",
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      "text": "Installation process typically focuses on three milestones: M0 / M1 / M2\nEach of the funding milestones is subject to both “pull-through / conversion rate” and timing\nGenerally, Funded Loans (those that are installed) are equal to (Credit Approvals) X (CA/M0 Conversion Rate) X (M0/M1 Conversion Rate)",
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      "text": "(1) Based on lifetime historical averages. (2) Historical conversion rate of ~60-70%. (3) Historical conversion rate of ~78-84%. (4) Reflects Solar only.",
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