Secures $45 Million in Debtor-In-Possession Financing

Voluntarily Files for Chapter 11 Relief to Effectuate the Proposed Transaction

OAKLAND, CA – June 6, 2025 – Solar Mosaic (the “Company” or “Mosaic”), a fintech platform for U.S. residential solar and energy-efficient home improvements, today announced the Company filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code (“Chapter 11”) in the United States Bankruptcy Court for the Southern District of Texas (the “Court”). Through the Chapter 11 process, Mosaic intends to complete a restructuring and recapitalization supported by certain of the Company’s existing lenders, including Forbright Bank (“Forbright”) acting as Administrative Agent on behalf of lenders, while simultaneously conducting a comprehensive marketing process of its platform and other assets of the Company.

Prior to filing for Chapter 11, Mosaic took actions to strategically and operationally reorganize the business to meet its current liquidity needs. Macroeconomic challenges facing the entire residential solar industry, including high interest rates and legislation that threatens to eliminate tax credits for residential solar, have impacted the flow of capital. Mosaic determined a Court-supervised process was the best way to maintain its loan servicing platform, effectuate a full sale and marketing process for its assets, and maximize value for its stakeholders.

This important step was taken after careful consideration and in consultation with the Company’s Board of Directors and advisors. The Company expects to execute the restructuring and recapitalization through a Chapter 11 plan of reorganization sponsored by Forbright and potentially consummate one or more asset sale transactions pursuant to Section 363 of the U.S. Bankruptcy Code.

Throughout the Court-supervised process, Mosaic expects to remain fully operational without disruption, and the Company remains committed to working with its network of installers, investors and capital markets partners, and customers. Mosaic plans to maintain its loan servicing operation, ensuring customers can continue to pay their loans as planned and collections are remitted to loan owners. As an existing loan servicing customer of Mosaic, Forbright intends to use its significant financial strength to support Mosaic’s servicing operations for all loan owners.

“Today’s announcement marks a significant step for Mosaic to address our financial position amid the macroeconomic challenges facing the residential solar industry as well as the recent legislation passed by the House that rolls back residential solar tax credits,” said Patrick Moore, Mosaic Chief Executive Officer. “Throughout this process, we remain focused on maintaining stability for our customers, business partners, and employees.”

Mosaic will receive $45 million in debtor-in-possession financing from its existing lenders, including $15 million in new money financing which, following court approval, is expected to fund the company’s ongoing operations and administrative expenses during the Chapter 11 cases. Mosaic has filed a number of customary motions with the Court to ensure that its operations continue as usual during the Court process. This includes motions requesting Court authority to pay employee wages and benefits, compensate certain vendors and suppliers on a go-forward basis, and facilitate the completion of partially finished installation projects.

Additional information regarding the Company’s Chapter 11 process is available at https://cases.ra.kroll.com/MOSAIC. Stakeholders with questions can contact the Company’s claims agent, Kroll by calling (833) 953-7040 (U.S./Canada) or +1 (646) 974-5614 (International) or emailing mosaicInfo@ra.kroll.com.

Advisors

Paul Hastings LLP is serving as legal counsel, BRG is serving as chief restructuring officer, Jefferies is serving as the investment banker, and C Street Advisory Group is serving as strategic communications advisor to the Company. Blank Rome LLP is serving as legal counsel and Huron Consulting Group is serving as financial advisor to Forbright Bank.

About Mosaic

Mosaic is an industry-leading fintech platform for sustainable home improvements. Founded in 2010, Mosaic is a pioneer in clean energy lending providing innovative solutions for financing solar, battery storage, and more. Mosaic has funded $15 billion in loans to date, helping more than 500,000 households make their homes more sustainable and efficient.

About Forbright Bank

Forbright is an FDIC-insured bank and commercial lender focused on helping to build a brighter future. Forbright is committed to exceptional client service by providing seamless, innovative personal banking services to depositors and creative financing solutions to middle market businesses and investors in healthcare, technology, financial services, real estate, and other industries.

Media Contacts

C Street Advisory Group
Mosaic@thecstreet.com

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Hanover, N.H. – June 20, 2024 – Recheck, the verification platform for the residential solar industry, announced today the launch of its industry registry in partnership with the Solar Energy Industries Association (SEIA) and leading solar finance, contractor, and technology partners. The first platform of its kind, Recheck offers an industry-wide registry of residential solar salespeople and installers to guarantee the highest standards of customer experience for families nationwide wanting to transition to cheaper, cleaner energy alternatives.

Recheck’s founding partners include nearly every U.S. residential solar financing company, ensuring rapid adoption of the platform. Founding partners include Dividend Finance, Freedom Forever, GoodLeap, Mosaic, Palmetto, Sungage Financial, Sunlight Financial, and Sunrun.

The foundation of the Recheck platform is a Recheck ID, an ID-verified unique identification number that allows contractors, financiers, and technology platforms to confirm that their partners meet certification, licensing, and training requirements in order to provide the highest-quality customer experience. This unique Recheck ID, in combination with SEIA’s upcoming standards, will also offer each participating sales representative and installer the ability to complete an objective third-party certification, enabling them to differentiate themselves based on validated training and best practices.

Additionally, Recheck will facilitate industry-wide data exchanges across the platform. These data exchanges can be used by industry companies to vet sales partners, prevent poor practices by unregistered salespeople, and identify individuals with a history of consumer protection violations who try to move from company to company.

“A healthy solar industry is vital to consumers and the U.S. energy transition. Recheck is proud of its founding partners and is committed to building the tools to ensure long-term trust with consumers,” said Tim Trefren, Recheck co-founder and CEO.

The U.S. residential solar industry has grown by over 500% in the past decade, delivering energy savings, more reliable power, and greater control over their energy future to millions of families nationwide. For years, industry leaders have prioritized consumer protection to forge strong, long-lasting relationships with customers and build a clean energy future together. This innovative partnership helps companies further strengthen these relationships by providing customers with increased understanding and confidence when making residential solar investment decisions.

Before Recheck, there was no national, industry-wide system for finance, contractor, and technology partners to track individual salespeople conduct, enforce industry consumer-protection standards, and improve transparency in customer interactions. Industry leaders have united to implement Recheck’s market-driven solution, ensuring the residential solar industry continues to thrive across the country.

“This is a critical partnership as SEIA works to make sure every solar installation in the United States is safe, reliable, and meets customer expectations,” said SEIA president and CEO Abigail Ross Hopper. “Solar remains America’s most popular form of energy and will be installed on 10 million homes by 2030. It’s our job to make sure the solar and storage industry is accountable to the millions of families that are putting their trust in us to power their lives.”

Recheck launches with the support of SEIA, the national trade association for the U.S. solar industry and a leader in solar consumer protection policy. Recheck and SEIA have formed a partnership to drive the adoption of SEIA’s upcoming American National Standards Institute (ANSI)-accredited Consumer Protection Standard (SEIA 401) and the Recheck registry.

Recheck founding partners will be part of an ongoing advisory board and have committed to driving the adoption of Recheck IDs within their platforms in 2024 and beyond.

About Recheck

Recheck is the verification platform for residential solar industry salespeople and installers that brings transparency and accountability to the sales process. Industry professionals are assigned unique Recheck IDs through the Recheck platform, empowering solar companies to identify and select ethical and trustworthy partners. The first industry-wide effort of its kind, Recheck is building trust in residential solar and supporting continued growth of clean energy by enabling a smoother sales process and better outcomes for consumers. Recheck partners include the Solar Energy Industries Association® (SEIA), as well as Dividend Finance, Freedom Forever, GoodLeap, Mosaic, Palmetto, Sungage Financial, Sunlight Financial, and Sunrun. For more information, visit recheck.co.

Recheck Media Contact: Matt Matyjek recheck@redwoodclimatecomms.com

About SEIA

The Solar Energy Industries Association® (SEIA) is leading the transformation to a clean energy economy, creating the framework for solar to achieve 30% of U.S. electricity generation by 2030. SEIA works with its 1,000 member companies and other strategic partners to fight for policies that create jobs in every community and shape fair market rules that promote competition and the growth of reliable, low-cost solar power. Founded in 1974, SEIA is the national trade association for the solar and solar + storage industries, building a comprehensive vision for the Solar+ Decade through research, education and advocacy. Visit SEIA online at www.seia.org and follow @SEIA on Twitter, LinkedIn and Instagram.

SEIA Media Contact: Morgan Lyons mlyons@seia.org

Media Contact for Mosaic: press@joinmosaic.com 

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Original press release can be found here.

Oakland, Calif., October 19, 2023 – Mosaic, a leading fintech platform for U.S. residential solar and energy-efficient home improvements, announced today that Kroll Bond Rating Agency (KBRA) has upgraded three classes of notes collateralized by Mosaic-originated loans representing $143.5M to ‘AAA’ from ‘AA-’. This marks the first time that bonds backed by residential solar loans have been given a ‘AAA’ rating. 

“As the longest-tenured residential solar loan issuer, this upgrade is a testament to the strength of Mosaic’s underwriting and the consistency of our performance over more than nine years,” said Patrick Moore, Mosaic CEO. “This milestone for the residential solar loan market is also a critical step in the evolution of the sector, paving the way for self-sustained AAA issuance in the near future.” 

Head of Deutsche Bank Alternative ABS Robert Sannicandro said, “Deutsche Bank was thrilled to work with Mosaic and KBRA to achieve this major vote of confidence for the sector. Achieving a AAA rating puts Mosaic and solar loans into the realm of well-established ABS asset classes such as auto loans and leases, credit cards and student loans. The solar loan ABS asset class has meaningfully supported the nation’s continued clean energy transition.”

The ‘AAA’ rating upgrade illustrates that the residential solar loan market is well-positioned to deliver strong performance well into the future. Clean energy home improvements typically attract financially savvy consumers with above average credit scores and income, reducing credit risk. Residential solar is expected to show continued growth through 2027, according to the WoodMac U.S. Solar Market Insight: 2022 year-in-review report.  

Since 2014, Mosaic has been originating and servicing consumer loans used for the purchase of residential solar systems. The company created the industry’s first 20-year and 25-year solar loans, the first battery-only loan, and the first solar loan option with no payments for 18 months. Through a nationwide solar system installer and dealer partners, Mosaic has funded over $14 billion in loans to homeowners across the United States for residential solar and sustainable home improvement. To date, the company has completed 18 securitizations, totaling more than $4.5 billion in offered securities in the ABS markets.   

About Mosaic

Mosaic is an industry-leading fintech platform for sustainable home improvements. With deep, strategic partnerships and a network of thousands of contractors nationwide, we empower homeowners to unlock greater savings, resilience and value in their homes. Founded in 2010, Mosaic is a pioneer in clean energy lending and continues to provide innovative solutions for financing solar, battery storage, heat pumps and more. We doubled our funding volume in 2022 and have funded $14 billion in loans to date, helping more than 370,000 households make their homes more sustainable and save money on their utility bills. Our financing options unlock billions of dollars of capital annually into high-quality ESG assets. Join us in our vision of 100% clean energy for all at joinmosaic.com 

Financing applied for and processed through the Mosaic platform is originated by Solar Mosaic LLC or one of its lending/financing partners. Equal Housing Lender.

Media Contact for Mosaic

press@joinmosaic.com 

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Oakland, Calif., August 1, 2023 – Mosaic, a leading fintech platform for U.S. residential solar and energy-efficient home improvements, today announced that President and Chief Operating Officer Patrick Moore has been named Chief Executive Officer. After leading the company for 13 years and serving as CEO since 2015, founder Billy Parish will become Executive Chair of the Board.

Additionally, Daniel Budington will be joining the company as Chief Financial Officer. He joins from Santander, where he spent nearly a decade in various strategy, corporate development and finance roles, including most recently serving as Chief Strategy Officer and previously as Head of Financial Planning and Analysis. Outgoing CFO Melissa Ballenger will become a senior advisor to the board and will continue to consult for the company.

In his new role as Executive Chair, Parish will focus on strategy, major partnerships and policy work to advance Mosaic’s vision of 100% clean energy for all and accelerate the growth of residential clean energy solutions. Parish, who founded the company more than a decade ago, will continue to play a key role at both Mosaic and with industry coalitions.

Incoming CEO Moore has been Mosaic’s President and COO since November 2017. He has more than 30 years of experience in consumer lending and operations, having previously served as COO of Renovate America, Genesis Financial Solutions and Toyota F.S.B., in addition to over seven years at Capital One and serving as an officer in the U.S. Navy. In each of his COO positions, Moore launched and scaled successful point of purchase financing businesses.

Incoming CFO Budington brings deep expertise in balance sheet and capital management, financial planning and analysis, pricing, funding and capital markets. Prior to Santander, he was a financial institutions investment banker with Guggenheim Partners, Deutsche Bank, and Merrill Lynch.

Mosaic founder and Executive Chair Billy Parish said, “Patrick has been an invaluable part of Mosaic’s success during his six years as President and COO. As Mosaic enters its next phase of growth, his operational and consumer lending skills will be more important than ever. We will continue to work in complementary ways to increase the awareness and accessibility of sustainable home improvements.”

Mosaic CEO Patrick Moore said, “Billy isn’t just the founder of Mosaic; he’s the founder of the modern residential solar lending industry. Billy has been working to fight climate change for two decades as an activist, political influencer, author and entrepreneur. I’m honored to build on the work he has done to help millions of homeowners, contractors and capital providers benefit from the shift to clean energy.”

Moore added, “As Mosaic grows through new products and partnerships, we’re thrilled to bring on Dan’s expertise in strategic finance and capital markets. With his experience at some of the world’s most respected financial institutions, Dan is the perfect person to add to the work Melissa has done to transform our finance department, building the company’s strategic and operational acumen and creating the strongest finance, capital markets and accounting function in the industry.”

Parish co-founded Mosaic in 2010 as a crowdfunding platform for community-scale solar projects. In 2014, the company shifted from crowdfunding to providing finance options for residential solar projects, later expanding to finance a broad array of sustainable home improvements. The company created the industry’s first 20-year and 25-year solar loans, first battery-only loan, and the first solar loan option with no payments for 18 months. To date, Mosaic has funded $14 billion in loans for residential solar and sustainable home improvements.

About Mosaic

Mosaic is an industry-leading fintech platform for sustainable home improvements. With deep, strategic partnerships and a network of thousands of contractors nationwide, we empower homeowners to unlock greater savings, resilience and value in their homes. Founded in 2010, Mosaic is a pioneer in clean energy lending and continues to provide innovative solutions for financing solar, battery storage, heat pumps and more. We doubled our funding volume in 2022 and have funded $14 billion in loans to date, helping more than 370,000 households make their homes more sustainable and save money on their utility bills. Our financing options unlock billions of dollars of capital annually into high-quality ESG assets. Join us in our vision of 100% clean energy for all at joinmosaic.com.

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Media Contact for Mosaic
press@joinmosaic.com

Oakland, Calif., November 8, 2022 – Mosaic, a leading financing platform for U.S. residential solar and energy-efficient home improvements, today announced it has surpassed $10 billion in loans funded through its platform. This double-digit milestone comes just seven weeks after announcing $9 billion in loans funded, showing accelerated growth for the clean energy fintech company. 

“We are excited to continue to help more families make the transition to clean energy,” said Billy Parish, founder and CEO of Mosaic. “Homeowners add solar to save money, which is especially important right now, and is one of the many factors that is driving the continued demand for clean energy across the country.”

According to the “U.S. residential solar finance update H2 2022” released in October 2022 by Wood Mackenzie, residential solar loan volumes will continue to grow through the end of the year. The report explains that increasing retail rates continue to make loans attractive compared to customers’ monthly utility bills despite increased pricing due to higher interest rates. The passing of the Inflation Reduction Act — which includes a 10-year extension of the solar residential tax credit at 30% — is also expected to increase solar adoption in the U.S. for the foreseeable future.

“The Inflation Reduction Act is rich with consumer incentives and tax breaks that will drive the adoption of clean energy products,” added Parish. “Families can save tens of thousands of dollars over the lifetime of a solar system.” 

Experts agree that interest in the industry is crescendoing right now. So much so that the American job market has also taken note of this momentum, with three in four U.S. adults saying they would consider a job in clean energy and solar being reported as the top industry of interest. For more information on what the job market is saying, visit https://joinmosaic.com/2022/11/01/clean-energy-jobs-survey/. 

About Mosaic

Mosaic makes financing solar, solar plus energy storage systems, and other sustainable home improvements accessible and affordable for homeowners by providing a fast and easy way to apply for financing options. Customers learn about Mosaic through approved solar installers and home improvement contractors, as well as other ecosystem partners, and can get a credit decision in minutes for no money down loans with fixed interest rates and multiple term options. Financing applied for and processed through the Mosaic platform is originated by Solar Mosaic LLC or one of its lending/financing partners. For our network of thousands of solar installers and home improvement contractors, Mosaic provides a streamlined financing platform to drive sales growth. Since 2012, Mosaic has helped more than 300,000 households switch to sustainable home improvements with its financing products. 

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Media Contact for Mosaic
press@joinmosaic.com

Oakland, Calif., November 1, 2022 – Mosaic, a leading financing platform for U.S. residential solar and energy-efficient home improvements, today announced the results of a new “Clean Energy Jobs” survey. The survey showcases how the American public is considering and preparing for the anticipated boom in the clean energy job market. These data points provide valuable insights to both educators and industry professionals as the U.S. government is expecting the creation of millions of good paying jobs in clean energy as a result of the Inflation Reduction Act.

According to the survey — which polled a cohort of more than 5,000 U.S. adults of all ages, geographic locations, genders, income levels and political affiliations — 75% said they would consider a job in clean energy, citing interest in fields like solar, electric vehicles, sustainable home improvements and geothermal.

“The clean energy revolution involves an incredibly diverse workforce. It impacts everyone from the people who manufacture, distribute and install sustainable home solutions to those who specialize in financing, software, technology and customer service,” said Billy Parish, founder and CEO of Mosaic. “We are seeing a wide range of applicants at Mosaic, from highly qualified engineering talent to trade industry veterans. What’s even more exciting is we’re hearing that they are considering our vision — 100% clean energy for all — as an important factor in their decision-making process.”

According to the survey, 3 out of 4 respondents said that if they were offered two jobs for the same amount of money, and one of the jobs was for a company focused on combating climate change, they would be more inclined to work for the company focused on combating climate change. In fact, 4 in 10 respondents ages 18-60 have already pursued green jobs, reporting they have applied for a job at a specific company because they knew it was doing something positive to help the environment. 

The survey also showed that both Republicans and Democrats are interested in clean energy jobs post-IRA. Of the Republicans surveyed (1,179), 66% said they would consider taking a job in clean energy, while 85% of Democrats surveyed (2,015) said they would. 

Interest is undoubtedly here, but are people ready for these positions? 

As the clean energy economy grows in America, the Mosaic survey took a look into whether or not the workforce feels prepared for clean energy jobs today. The results showed that approximately one-third of respondents believe their current education and experience well-position them for a clean energy job shift, while the other two-thirds believe they will require additional on-the-job training. 

“While many of the skills required for clean energy jobs are transferable from other industries, government offices and trade organizations have identified the need for additional education and training programs,” added Parish. “Renewable energy creates more jobs than the fossil fuel industry, and this sector will need to fill millions of jobs globally over the next decade.”

According to Parish, the market is hitting the next evolution of interest, and the transition to clean energy will be particularly exciting for a company like Mosaic, which is at the intersection of two growing industries, fintech and greentech. As for the survey participants, many believe this evolution will lead to a competitive job market, with 28% saying they think it will be very competitive to land a clean energy job in the coming years, while an additional 36% think it will be somewhat competitive. Only 7% think it will be not competitive at all.

The “Clean Energy Jobs” survey was fielded in October 2022 by Survey Monkey and was sponsored by Mosaic. The blind survey involved more than 5,000 U.S. adults, ages 18+. Supporting infographics for media can be found HERE. 

About Mosaic
Mosaic makes financing solar, solar plus energy storage systems, and other sustainable home improvements accessible and affordable for homeowners by providing a fast and easy way to apply for financing options. Customers learn about Mosaic through approved solar installers and home improvement contractors, as well as other ecosystem partners, and can get a credit decision in minutes for no money down loans with fixed interest rates and multiple term options. Financing applied for and processed through the Mosaic platform is originated by Solar Mosaic LLC or one of its lending/financing partners. For our network of thousands of solar installers and home improvement contractors, Mosaic provides a streamlined financing platform to drive sales growth. Since 2012, Mosaic has helped more than 300,000 households switch to sustainable home improvements with its financing products. 

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Completes $244 million solar loan securitizations from clean energy

Oakland, Calif., September 15, 2022 – Mosaic, a leading financing platform for U.S. residential solar and energy-efficient home improvements, today announced it has surpassed $9 billion in loans funded through its platform. The company continues to see significant growth — surpassing $8 billion in loans funded just eight weeks ago.

“The need for clean energy and sustainable home improvements has never been greater,” said Billy Parish, founder and CEO of Mosaic. “Just last week, millions of people were under excessive heat warnings, which put pressure on electric grids in several states. Our partners and industry play a critical role in helping homeowners make their homes more energy efficient and resilient. There’s so much opportunity to not only prevent the worst impacts of climate change, but also support an adaptable and modern grid through the adoption of solar panels, battery storage and high-efficiency electrical appliances. And now, the Inflation Reduction Act will make it even easier for people to choose these options.”

Mosaic passed another significant milestone in September: Helping more than 1 million people prosper from clean energy. By making financing affordable and accessible, the company has helped more than a million homeowners, contractor partners, equipment suppliers, and Mosaic employees and their families. 

“We started Mosaic to empower as many homeowners as possible to own their own clean energy,” said Parish. “We know that the more people who benefit financially from transitioning to clean energy, the faster adoption will occur. Thank you to all of our customers, partners, investors and teammates who’ve made this possible — we’re just getting started!”

Mosaic Closes Second Solar Loan Securitization of 2022

The company also recently closed its 13th solar loan asset backed securitization, which is more than any other solar loan issuer in the space. At $244 million, this is the second securitization Mosaic has closed in the 2022 calendar year. 

The Mosaic Solar Loans 2022-2 transaction (“Mosaic 2022-2”) priced on August 5, 2022, and consisted of four classes of notes rated by Kroll and Fitch Bond Rating Agencies from “AA-/AA-” to “BB-/BB” with weighted average lives ranging from 2.86 to 5.28 years. Deutsche Bank was the structuring agent and bookrunner for Mosaic 2022-2, BNP Paribas was the joint bookrunner with Royal Bank of Canada and Societe Generale as co-managers. The bonds are compliant with Green Bond principles, according to Sustainalytics US, Inc. 

About Mosaic

Mosaic makes financing solar, solar plus energy storage systems, and other sustainable home improvements accessible and affordable for homeowners by providing a fast and easy way to apply for financing options. Customers learn about Mosaic through approved solar installers and home improvement contractors, as well as other ecosystem partners, and can get a credit decision in minutes for no money down loans with fixed interest rates and multiple term options. Financing applied for and processed through the Mosaic platform is originated by Solar Mosaic LLC or one of its lending/financing partners. For our network of thousands of solar installers and home improvement contractors, Mosaic provides a streamlined financing platform to drive sales growth. Since 2012, Mosaic has helped more than 275,000 households switch to sustainable home improvements with its financing products. 

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Media Contact for Mosaic
press@joinmosaic.com

Oakland, Calif., July 21, 2022 – Mosaic, a leading financing platform for U.S. residential solar and energy-efficient home improvements, today announced it has surpassed $8 billion in loans funded through the company’s platform. This accomplishment marks yet another success for the mission-driven business, which has funded approximately $1 billion in loans per quarter this year and also achieved its highest monthly loan volume to date in June.

“This is a moment in time when it has to be all hands on deck to help more families make the switch to clean energy solutions,” said Billy Parish, founder and CEO of Mosaic. “Together with our partners, we make sustainable home improvements more accessible and affordable for homeowners — which is even more important with the impact of inflation and rising utility costs sweeping the country. We have no plans of slowing down and will not stop until we reach our vision of 100% clean energy for all.”

The company passed the $8 billion mark in late June, less than two months after announcing $7 billion in loans funded. The impact of this growth puts Mosaic on the cusp of passing another major milestone — helping more than 1 million people prosper from clean energy. This includes homeowners, contractors and their crews, Mosaic employees as well as other equipment suppliers and partners. 

“When we started Mosaic in 2010, our mission was to empower millions of people to prosper from clean energy,” said Parish. “I am incredibly proud of what we’ve done to help people and the planet thrive, and eternally grateful to everyone who has made this possible. It will take all of us working together to help the next million people prosper.”

To support this substantial growth, the company has also hired top business development talent, including: Jamie Kline, Vice President of Business Growth; Eric Torykian, HVAC Business Development Executive; and Patrick Brokaw, Roofing Business Development Executive.

“Jamie, Eric and Pat are proven industry professionals, and they joined our team at a pivotal moment in the company’s growth,” said Parish. “With extensive experience in renewable energy and home renovation, they are already making significant contributions for Mosaic and our partners.”

About Mosaic

Mosaic makes financing solar, solar plus energy storage systems, and other sustainable home improvements accessible and affordable for homeowners by providing a fast and easy way to apply for financing options. Customers learn about Mosaic through approved solar installers and home improvement contractors, as well as other ecosystem partners, and can get a credit decision in minutes for no money down loans with fixed interest rates and multiple term options. Financing applied for and processed through the Mosaic platform is originated by Solar Mosaic LLC or one of its lending/financing partners. For our network of thousands of solar installers and home improvement contractors, Mosaic provides a streamlined financing platform to drive sales growth. Since 2012, Mosaic has helped more than 250,000 households switch to sustainable home improvements with its financing products. 

Media Contact for Mosaic
press@joinmosaic.com

Oakland, Calif., April 21, 2022 – Mosaic, a leading financing platform for U.S. residential solar and energy-efficient home improvements, today announced it has surpassed $7 billion in loans funded through the company’s platform. This milestone signals a strong first quarter for the mission-driven company, which also achieved its highest monthly loan volume to date in March.

“There’s a growing importance of clean renewable energy as an economic engine, a climate imperative, and a matter of national security,” said Billy Parish, founder and CEO of Mosaic. “The urgency to deliver affordable financing options for our partners and homeowners is growing, and Mosaic is uniquely positioned to help lead this charge.”

The $7 billion milestone was passed in mid-March and was fueled by the company’s strong industry relationships, operational capabilities and numerous capital partners. Mosaic also recently completed a $382.7 million securitization. This was Mosaic’s largest securitization to date and included the addition of Fitch Ratings, rating the senior (AA-) tranche of the transaction. Mosaic has now completed 12 securitizations over the course of six years, which is more than any other solar loan issuer in the space. Additionally, Mosaic continues to build new forward flow and direct origination partnerships with banks, credit unions, insurance companies and asset managers to further strengthen its diversified funding model.

Mosaic Expands Executive Bench 

As Mosaic continues to experience rapid growth, the company has added two new leaders to its team. Kim McNealy has joined as general manager of home improvement and reports to Patrick Moore, president and chief operating officer. And Noura Panaritis has joined as senior vice president of enterprise applications and reports to Nagaraju Bandaru, chief technology officer.

McNealy oversees the home improvement business operations at Mosaic, developing, deploying and maintaining highly competitive products and services throughout the home improvement ecosystem, from OEMs, distributors and SaaS platforms, to installers and sales organizations. He has more than two decades of experience in business development and customer experience strategy focused on high-growth, technology-based companies. 

As the SVP of enterprise applications for Mosaic, Panaritis serves as the technology business partner for the sales, marketing, finance, operations and people operations departments. She brings a proven track record in go-to-market, finance and operations technology solutions to Mosaic and most recently worked at LightSpeed Commerce and J.D. Power. 

“We are honored to have Kim McNealy and Noura Panaritis join our team,” said Moore. “Their unique and compelling experience, coupled with their enthusiasm for growth, make us very excited for the impact they will have on advancing our mission.”

About Mosaic

Mosaic makes financing solar, solar plus energy storage systems and other sustainable home improvements accessible and affordable for homeowners by providing a fast and easy way to apply for financing options. Customers learn about Mosaic through approved solar installers and home improvement contractors, as well as other ecosystem partners, and can get a credit decision in minutes for no money down loans with fixed interest rates and multiple term options. Financing applied for and processed through the Mosaic platform is originated by Solar Mosaic LLC or one of its lending/financing partners. For our network of thousands of solar installers and home improvement contractors, Mosaic provides a streamlined financing platform to drive sales growth. Since 2012, Mosaic has helped more than 220,000 households switch to sustainable home improvements with its financing products.

Media Contact for Mosaic
press@joinmosaic.com

Oakland, Calif., February 15, 2022 — Mosaic, a leading financing platform for U.S. residential solar and energy-efficient home improvements, today announced it has reduced pricing across its entire suite of solar loan products. This benefits homeowners, installers and the industry as a whole by providing immediate access to some of the most-attractively priced solar financing options in the market.

“The urgency around climate change and its impact on our communities continues to escalate, and we must make it as easy and affordable as possible for even more families to make the switch to solar this year,” said Billy Parish, founder and CEO of Mosaic. “We have been offering residential solar financing options longer than anyone else, which gives us more data with which to underwrite and price our loans. We’ve established ourselves as a leader in cost of funds through our disciplined approach and consistent performance, and we are passing the benefit of that advantage through to our customers.”

Mosaic has issued more solar loan securitizations than any other solar issuer in the space. Between 2017 and 2021, the company issued 11 solar loan securitizations, totaling $2.9 billion of offered securities. The company also repeatedly sets records for low cost of funds on bonds.

“Combining competitive pricing with MosaicScore, our proprietary solar loan credit score, we believe we are able to offer our partners the best combination of pricing and homeowner approval coverage available anywhere in the market,” said Parish.

A pioneer in solar and clean energy, Mosaic has helped more than 200,000 homeowners switch to sustainable home solutions to date.

About Mosaic
Mosaic makes financing solar, solar plus energy storage systems and other sustainable home improvements accessible and affordable for homeowners by providing a fast and easy way to apply for financing options. Customers learn about Mosaic through approved solar installers and home improvement contractors, as well as other ecosystem partners, and can get a credit decision in minutes for no money down loans with fixed interest rates and multiple term options. Financing applied for and processed through the Mosaic platform is originated by Solar Mosaic LLC or one of its lending/financing partners. For our network of thousands of solar installers and home improvement contractors, Mosaic provides a streamlined financing platform to drive sales growth. Since 2012, Mosaic has helped more than 200,000 households switch to sustainable home improvements with its financing products.

Media Contact for Mosaic
press@joinmosaic.com