SunTrust Bank and Mosaic have partnered to announce a new strategic loan for solar origination. The solar loan is expected to increase the growth of solar-powered systems installation throughout the United States. 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 energy and solar-powered systems storage products.
Mosaic announced a new strategic loan origination partnership with SunTrust Bank that will accelerate the growth of the solar-powered systems installation, batteries and related sources of renewable energy solutions for homeowners across the United States.
This announcement follows Mosaic’s recent roll out of a 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 solar 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 energy and solar-powered systems storage products.
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