Renovate America makes first Benji loan portfolio sale

house calculator
By Sasha Padbidri
04 Apr 2018

Residential Property Assessed Clean Energy (PACE) provider Renovate America sold $90m of 'Benji' home improvement loans to an undisclosed regional bank on Wednesday. The company also said it has not ruled out securitizing its Benji loans in the future.

Benji loans, named after Founding Father Benjamin Franklin, are Renovate America’s home improvement financing product. The company has originated $150m in Benji loans since the product was launched in late 2015.

The decision not to securitize the loans boiled down to the cost of funds, Renovate America ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial