Goldman Sachs Bank and Mosaic, a provider of home solar financing solutions, have announced a purchase commitment in which GS Bank will buy $300 million in home solar loans originated by Mosaic. The commitment increases Mosaic’s available future loan funding commitments from banks and credit unions to $800 million. This is in addition to $650 million of committed borrowing capacity provided by Mosaic’s existing warehouse partners.
Mosaic makes financing solar energy systems accessible and affordable for homeowners by providing the simplest borrower experience in the industry. Mosaic has originated over $1 billion of loans to date. Customers are connected to top solar installers and can qualify instantly for no money down loans with fixed interest rates and multiple term options. For solar installers, Mosaic provides a streamlined financing platform to drive sales growth. Since 2012, Mosaic has helped over tens of thousands people go solar with a network of over 125 installers.
— Solar Builder magazine