13 Sep '17, 11am

Mosaic Will Sell $300 Million of Solar Loans to Goldman Sachs

Mosaic Will Sell $300 Million of Solar Loans to Goldman Sachs

Solar loan provider Mosaic reached an agreement with Goldman Sachs in which the bank will buy $300 million in loans over time. This deal will clear up space on Mosaic's balance sheet to finance more loans, and signals a prestigious bank's willingness to buy and own solar loans for itself. Mosaic this week also finalized a partnership with Wave Solar to give Mosaic's dealer partners a pre-negotiated discount on the lead-generation platform. That service tracks and analyzes interactions with customers, potentially giving long-tail installers more resources to pursue their sales. Banks have the lowest cost of funds, making them an ideal partner for loan sales, said Amir Friedman, vice president of bank partnerships. However, that money comes with stringent requirements in terms of compliance and information security. "To be a lender to a bank, the bar is very high," Friedman ...

Full article: https://www.greentechmedia.com/articles/read/mosaic-will-...

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