Cohen notes securitized solar loan yields dropped from 8% to 3.5%
Benjamin Cohen · 650: TREX FinTech $15M Raised, Breaks Down Securitized Loans From Renewable Energy Orginators So Investors Can Buy with CEO Benjamin Cohen · May 5, 2017 · at 9:25
Benjamin Cohen, CEO of T-Rex, explains how asset securitization lowers the cost of capital for residential solar loans to Nathan Latka.
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“I mean, you can actually track how these rates have come down over time from eight percent to six percent, and now, now some of these loans for some of our customers, when they're ultimately securitized are sold for three and a half percent for the top tier tranches.”
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“We just need to be there because we don't have huge competition. And so if we needed to have a bigger presence to sort of outdo the guy next door, then it would cost us a lot more. But because we're competing with in-house Excel models we just need to be on pe…”
Cohen says T-Rex raised $15 million across Series A and B
“We've raised about five million dollars today.
Okay.
Or sorry, not five. I've, I undersold that. That was in our series A that we're at fifteen million now.
15, one, five.
And I, I'd be shocked if all those were notes and debt.
I'm assuming you've had a price …”