Image result for Mosaic, the leading financing platform for U.S. residential solar and energy-efficient home improvement projects,

Mosaic, a financing platform for U.S. residential solar and energy-efficient home improvement projects, announced it has surpassed $4 billion in loans funded through the company’s platform. Mosaic continues to accelerate its position in solar and energy with enhancements to its industry-first PowerSwitch ZERO product and key additions to its leadership team.

The company has now added new features to its PowerSwitch ZERO solar financing offering — no payments for 18 months and a 25-year loan term. The product also has the choice of a 12-month, zero-payment promotional period, and 10-, 15- or 20-year installment terms with no prepayment penalty.

“No payments for 18 months and a lower monthly payment will make it even easier for homeowners to convert to clean energy,” said Billy Parish, founder and CEO of Mosaic. “Mosaic was the first to create 20-year and 25-year solar loans, the first to create battery-only and solar roofing loan products. We were the first to offer a no-payment solar loan option, and this is the next generation of our ongoing innovation. We will continue to anticipate market needs and design new solutions for our partners that enable them to be agile and remain competitive.”

“Last year was an unusual time, but solar loans have proven to be a strong asset through this credit cycle, COVID and the economic challenges the market faced in 2020,” said Patrick Moore, president and COO of Mosaic. “We closed asset-backed securitizations of $222 million and $280 million in 2020, both of which were multiple times oversubscribed. We now have multiple years of historical data, and the financial markets recognize Mosaic’s consistent performance and disciplined approach to delivering long-term value. This has strengthened our relationship with capital markets and reduced our cost of capital, which allows Mosaic to pass along lower rates to homeowners.”

Strong Team, Strong Outlook

In addition to a strong 2020, Mosaic also added to its leadership team last month. Tamiko Kikuchi joins as Vice President of Product, and John King is the new Vice President and Head of Strategy and Corporate Development.

Kikuchi has more than 10 years of experience driving business and revenue growth through product strategy, process improvement and team leadership. Previously, she served as vice president of product and implementation at Renovate America, where she oversaw the company’s entire software product portfolio and company-wide product management organization.

King held leadership roles in the areas of finance and investment banking for more than 15 years before joining the solar industry. Most recently, he co-led capital markets as Senior Vice President at LoanPal. Prior to that, he oversaw capital markets and Treasury at Sunnova.

“We’re excited to start a new year with the industry’s most flexible finance offerings, new products for our partners and their customers and key additions to our leadership team,” said Parish. “We expect more families to invest in energy-efficient upgrades for their homes in 2021, and Mosaic will continue to lead the market in making that possible.”

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