Loanpal
Solar Financing's Finest
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Loanpal is the leader in the solar financing industry. We work primarily with Loanpal with all of our solar loans as they are the top solar lender in the country who focuses on giving back to those in need with their GivePower partnership.
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- Loanpal's History -
Loanpal was originally founded in 2003 as a mortgage lending company, Paramount Equity Mortgage, providing residential mortgage loans nationwide.
In 2009 the founders saw another opportunity to enter the quickly emerging residential solar market and Paramount Solar was established.
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After building an efficient residential solar sales and marketing platform, the company was approached in 2013 by SolarCity (now Tesla Energy) and Paramount Solar was sold at $120 million.
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In 2011, Loanpal (known as Paramount Equity at the time) took on an equity investment from Guthy-Renker, the nation's largest direct-to-consumer marketing company. In December 2017, Paramount began originating residential solar loans and later rebranded as Loanpal.
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In 2019, Loanpal announced a partnership with PenFed Credit Union. As of 2019, Loanpal is responsible for 30% of all new residential loans in the U.S. and is the top solar lender in the country.
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In 2020, the team launched its online platform for additional energy-efficient home improvement products including battery storage, roofing, windows and HVAC.
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- Why Loanpal? -
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They provide friendly financing options for those who dream of living a more sustainable lifestyle and want to save money using modern technology.
Their mission is to make a positive impact on the planet, build lasting relationships with our valued partners and customers, and deliver a tech-enabled lending experience that is simple, fast, and frictionless.
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The company has loaned more than $27 billion to over 105,000 customers across 50 states. Loanpal is an approved seller-service of both government-sponsored entities, Fannie Mae and Freddie Mac, and has raised over $250 million in funding for its consumer finance loans.systems
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- GivePower -
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The world positive lender, Loanpal, partnered with GivePower who is a non-profit founded in 2013 who's mission is to build and deploy solar-powered clean water and energy systems to communities in need around the world.
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Loanpal founded the Conscious Collective - a group of organizations and individuals who have committed to paying all of GivePower's overhead and operations, so every dollar donated is put toward a project in the field for maximum impact.
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100% of all donations to GivePower go entirely to helping those who need it most.
Over the past 6 years, GivePower has brought solar power to over 2500 schools, businesses, and emergency services and changed the lives of more than 300,000 people worldwide.
Check out the Loanpal FAQ page for more info on Loanpal and the specifics of how the solar loan is structured.
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Want more info? Give us a call today to help you and please check out our other channels for solar news, highlights, and industry need to knows!
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