America Solar Direct teams with Mosaic for loan funding

The U.S. solar loan market continues to grow, with leasing providers increasingly expanding into the provision of loans. The latest to do so is California’s ASD, which will partner with Mosaic to provide its 20-year solar loan product.

Mosaic’s approach to raising capital sets it apart from other lenders, in that is sources funds from both public markets, private investors and also through crowdfunding. It launched the loan provision service in June 2014. Originally Mosaic provided purely crowdfunded financing for arrays on not-for-profit organizations, but it has since expanded its portfolio and services.

ASD will offer its solar loan through an online platform, with prospective customers receiving an immediate response. ASD and Mosaic say that the loan can be paid off early if so desired.

“Our financing portal is extremely fast and makes it easy for more homeowners to get financing to own their solar and reap long-term financial benefits,” said Mosaic founder and CEO Billy Parish.