OAKLAND, Calif., Aug. 7, 2019 /PRNewswire/ -- Mosaic, a leading provider of affordable solar financing solutions for homeowners, announced today a new strategic loan origination partnership with SunTrust Bank that will accelerate the growth of the installation of solar energy systems, batteries and related clean energy solutions for homeowners across the United States.
This announcement follows Mosaic's recent roll out of an industry-leading PowerSwitch 6 suite of home solar loans to its installation partners. The PowerSwitch 6 offering bundles together new features and loan structures designed to improve solar installers' cash flow, streamline processing and lower installers' customer acquisition costs. Since inception, Mosaic has helped nearly 100,000 households go solar with its financing.
"The Mosaic / SunTrust Bank partnership is an exciting step in our mission to empower millions of people to prosper from clean energy," said Billy Parish, Founder and CEO of Mosaic. "As an industry leader in solar financing, having SunTrust Bank as a direct origination partner will expand funding and streamline the experience for homeowners and our installer partners."
The partnership allows homeowners to invest in upgrading the value of their homes and make a long-term commitment to sustainability—core principles to both SunTrust Bank and Mosaic. The partnership enhances Mosaic's position as a national leader in solar financing, enabling Mosaic to continue to offer the best suite of product offerings to homeowners making the switch to clean solar and energy storage products.
Mosaic makes financing solar and solar plus energy storage systems and other home improvements accessible and affordable for homeowners by providing the simplest borrower experience in the industry. Customers are referred by approved solar installers and home improvement contractors and can qualify instantly for no money down loans with fixed interest rates and multiple term options. For our network of hundreds of solar installers and home improvement contractors, Mosaic provides a streamlined financing platform to drive sales growth. Since 2012, Mosaic has helped nearly 100,000 households go solar with its financing products. For more information, visit: www.joinmosaic.com.