Announces Most significant Photo voltaic Financial loan Securitization to Day at $382.7 Million and Expands Government Workforce with Two New Hires
OAKLAND, Calif., April 21, 2022 /PRNewswire/ — Mosaic, a foremost financing platform for U.S. household solar and strength-successful residence enhancements, these days declared it has surpassed $7 billion in loans funded by means of the firm’s system. This milestone indicators a powerful first quarter for the mission-pushed organization, which also reached its highest monthly financial loan quantity to date in March.
“There is a rising value of clean renewable strength as an financial engine, a climate imperative, and a make any difference of nationwide safety,” explained Billy Parish, founder and CEO of Mosaic. “The urgency to supply affordable funding solutions for our partners and house owners is expanding, and Mosaic is uniquely positioned to help direct this cost.”
The $7 billion milestone was handed in mid-March and was fueled by the firm’s robust market interactions, operational capabilities and many cash companions. Mosaic also not too long ago accomplished a $382.7 million securitization. This was Mosaic’s most significant securitization to date and involved the addition of Fitch Scores, ranking the senior (AA-) tranche of the transaction. Mosaic has now completed 12 securitizations around the course of six a long time, which is additional than any other solar bank loan issuer in the house. Furthermore, Mosaic proceeds to develop new forward move and immediate origination partnerships with banking companies, credit unions, insurance policy corporations and asset managers to more strengthen its diversified funding design.
Mosaic Expands Government Bench
As Mosaic carries on to knowledge swift progress, the enterprise has extra two new leaders to its crew. Kim McNealy has joined as common supervisor of household enhancement and reviews to Patrick Moore, president and main operating officer. And Noura Panaritis has joined as senior vice president of enterprise apps and reviews to Nagaraju Bandaru, main know-how officer.
McNealy oversees the home advancement enterprise functions at Mosaic, building, deploying and sustaining extremely aggressive products and solutions and providers in the course of the dwelling advancement ecosystem, from OEMs, distributors and SaaS platforms, to installers and income corporations. He has more than two decades of expertise in organization advancement and client expertise approach focused on high-progress, engineering-primarily based companies.
As the SVP of enterprise purposes for Mosaic, Panaritis serves as the know-how small business husband or wife for the gross sales, marketing, finance, operations and people functions departments. She provides a verified track document in go-to-market place, finance and functions technology options to Mosaic and most a short while ago labored at LightSpeed Commerce and J.D. Electricity.
“We are honored to have Kim McNealy and Noura Panaritis join our team,” reported Moore. “Their one of a kind and compelling practical experience, coupled with their enthusiasm for development, make us very excited for the impact they will have on advancing our mission.”
Mosaic will make financing solar, photo voltaic furthermore electrical power storage methods and other sustainable house improvements accessible and cost-effective for homeowners by supplying a speedy and straightforward way to use for financing alternatives. Buyers find out about Mosaic by means of accredited photo voltaic installers and dwelling advancement contractors, as perfectly as other ecosystem partners, and can get a credit choice in minutes for no funds down loans with fixed curiosity costs and numerous term alternatives. Funding applied for and processed via the Mosaic platform is originated by Solar Mosaic LLC or a single of its lending/funding partners. For our community of thousands of solar installers and dwelling improvement contractors, Mosaic offers a streamlined financing system to travel gross sales expansion. Since 2012, Mosaic has aided additional than 220,000 homes swap to sustainable household improvements with its financing goods.
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