Loanpal leverages its deep expertise in technology, data and lending to make sustainable home improvement products more accessible to homeowners looking to make a positive impact on the planet. Loanpal’s proprietary technology platform is accessible to over 12,000 point-of-sale sales professionals, creating a highly efficient and best-in-class channel for financial institutions to deploy their capital in ESG assets. Loanpal works with credit unions, insurance companies, banks and asset managers and has provided approximately $ 5 billion solar and other home efficiency loans through its platform since 2018, enabling more than 175,000 families to take action to reduce their carbon footprint.
This securitization, sponsored by Goldman Sachs, consists of more than $ 430 million of notes, including $ 390 million are rated by the Kroll Bond rating agency. The Notes are modeled for a weighted average life of approximately 5.44 years, 6.48 years and 6.95 years for Class A Notes, Class B Notes and Class C Notes, respectively, and are backed by an initial pool of guarantees of approximately $ 474 million of loans with an average FICO score of 742.
“As homeowners continue to embrace clean energy products, access to efficient capital is critical to supporting market growth. Loanpal continues to be a leader in the sustainable home improvement market and we are excited to be part of a transaction that will help evolve the financing of residential solar products, ”said Katrina Niehaus, Managing Director of Goldman Sachs.
Loanpal is the country’s leading technology platform for the over $ 100 billion sustainable home improvement market. The company is committed to providing a technology-based lending experience that is simple, fast and frictionless, resulting in instant point-of-sale approvals. Loanpal’s technology is used by over 12,000 sales professionals to deploy approximately $ 400 million one month in solar products and other sustainable home improvement products. Loanpal made a transaction on $ 5 billion on its platform since its launch in 2018. Loanpal is a proud partner of Empower, a 501 (c) (3) company, whose mission is to build and deploy clean water and solar energy systems for needy communities around the world. To learn more about Loanpal, visit, follow and connect with us at www.loanpal.com, @ready, and Linkedin.