Renovate America obtains a $100 million credit facility from Credit Suisse to expand unsecured home improvement lending program

Written By: Stratton Report
February 2, 2017

renovate america

On February 2, PACE finance provider Renovate America announced that it has completed a $100 million credit facility with Credit Suisse, which the firm will use to expand Benji, the company’s unsecured consumer home-improvement lending product.

 As Renovate America’s newest financing option, Benji is designed for well-qualified borrowers and is expected to rapidly expand to all 50 states. Benji can only be used to finance home improvements, from energy and efficiency upgrades to kitchen and bath projects. Benji offers consumer and small business protections which set it apart from other unsecured lending, including contractors agreeing to be paid only when homeowners have agreed that the project is complete, and post-funding dispute resolution support if needed.

Patrick Moore, Renovate America Senior Vice President of Consumer Lending remarked:

 Benji helps expand our network of vetted contractors, and is a natural extension of our commitment to make home improvement more efficient. By providing homeowners access to a variety of financing solutions and our network of qualified contractors an easy-to-use, tech-enabled platform, we are enabling communities to modernize their housing stock while providing growth opportunities for small businesses.