Home solar loan provider Mosaic has closed a $250 million warehouse facility, with Deutsche Bank as the arranger and administrative agent. Together with recent upsizes to Mosaic’s existing warehouse facility and a forward flow whole loan sale arrangement, this agreement provides Mosaic with $550 million of new loan funding capacity.
“More and more homeowners are looking for an effective path to energy savings,” says Billy Parish, founder and CEO at Mosaic. “The credit facility with Deutsche Bank provides meaningful capacity to fund the growing demand for residential solar projects.”
“Solar loans are becoming a more common financing choice for people that purchase solar panel systems, and we’re pleased to work with industry leaders like Solar Mosaic to advance this growing asset class,” adds Rob Sannicandro, director at Deutsche Bank.
According to Mosaic, this financing comes on the heels of an equity financing round of up to $220 million led by Warburg Pincus in August and a $200 million warehouse facility led by Germany’s DZ BANK in April.