Originally named Paramount Equity Mortgage, GoodLeap was founded in Roseville, California in 2003 by Hayes Barnard, Jason Walker and Matt Dawson. Initially, a GoodLeap Loan was only offered for residential mortgages. In 2009, the founders entered the quickly emerging residential solar market by creating Paramount Solar. The company was sold to SolarCity in 2013 in a transaction approximately valued at $120 million. In 2017, Paramount Solar rebranded as Loanpal.
In 2019, Loanpal partnered with PenFed Credit Union, which made clean energy productions more accessible to homeowners. As of 2020, Loanpal was responsible for 41% of all new residential loans in the U.S.A. and is the top solar lender in the country. By October 2020, the company had funded over $4.5 billion for customers that received a GoodLeap Loan. In 2021, the company raised over $1 billion in new funding. In June 2021, Loanpal rebranded to GoodLeap.
The company gives homeowners the option of bundling their GoodLeap Loan into conventional mortgages. The GoodLeap Loan is funded once the solar panel system is installed. Then, homeowners can bundle the solar loan into a refinancing of their mortgage.
As of today, GoodLeap operates in all 50 states plus Puerto Rico. They have funded over $29 Billion to projects. They are the #1 solar lender in the USA with over 150,000 customers.
