Mosaic said that it has surpassed $7 billion in loans funded through the company’s platform. The milestone is significant in itself, but also serves to illustrate the company’s rapid acceleration, as it passed the $6 billion mark in December 2021 and the $5 billion mark in March 2021.
The $2 billion dollar growth timeline works out to be almost exactly 12 months in total, with Mosaic sharing that the $7 billion milestone was passed in mid-March, finishing off a month that saw the company achieve its highest monthly loan volume to date. Mosaic also recently completed a $382.7 million securitization. Since 2017, the company issued 12 solar loan securitizations, totaling more than $3.2 billion of offered securities. The company also prides itself on the low cost of funds on bonds.
“There’s a growing importance of clean renewable energy as an economic engine, a climate imperative, and a matter of national security,” said Billy Parish, founder and CEO of Mosaic. “The urgency to deliver affordable financing options for our partners and homeowners is growing, and Mosaic is uniquely positioned to help lead this charge.”
Mosaic offers financing for solar, solar-plus-storage systems, and other sustainable home improvements, often providing homeowners with a credit decision in minutes for no money down loans with fixed interest rates and multiple term options. In February, Mosaic announced it had reduced pricing across its entire suite of solar loan products.
Just a year ago Mosaic announced new financing partnerships that were expected to provide loans to more than 100,000 homeowners.
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