GoodLeap

GoodLeap

Company type	Private
Industry	Financial technology, Solar energy financing
Predecessor	Loanpal, Paramount Equity Mortgage
Founded	2003 (2003)
Founder	Hayes Barnard, Jason Walker, Matt Dawson
Headquarters	Roseville, California , United States
Area served	United States
Key people	Hayes Barnard (Chairman and CEO), John Shrewsberry (CFO), Daniel Lotano (Chief Strategy Officer)
Products	Residential solar loans, home improvement loans, mortgages
Number of employees	1300 (2025)
Website	goodleap.com

GoodLeap, previously known as Loanpal, is a financial technology firm based in the United States with its main office located in Roseville, California. Specializing in financing for residential solar energy systems and eco-friendly home enhancements, the company has facilitated more than $30 billion in loans to upwards of one million homeowners nationwide by 2025. Employing around 1,300 staff members, GoodLeap operates from several offices including Roseville, San Francisco, Irvine, Phoenix, Kansas City, and Bentonville.

History

The company was founded in 2003 under the name Paramount Equity Mortgage by Hayes Barnard, Jason Walker, and Matt Dawson, initially concentrating on providing residential mortgage loans across the country. In 2006, it expanded by launching an insurance division focused on auto and homeowners insurance, which was eventually sold to Brown and Brown.

In 2009, Paramount Solar was created as a subsidiary to finance solar energy installations. This division was acquired by SolarCity (now Tesla Energy) in 2013 for around $120 million. The firm also attracted equity investment from Guthy-Renker in 2011.

December 2017 marked the start of the company’s residential solar loan origination under the new name Loanpal. By 2019, Loanpal had formed a partnership with PenFed Credit Union and was responsible for approximately 30% of new residential solar loans issued in the U.S.

The launch of Loanpal’s online platform occurred in 2020. That same year, Goldman Sachs securitized $459 million worth of Loanpal loans and increased its warehouse credit facility to $300 million while committing to purchase an additional $320 million. By October 2020, Loanpal had financed over $4.5 billion in solar loans and completed a $434 million securitization in November. Holding a dominant 41% share of the U.S. solar loan market, it stood as the leading lender in this sector.

In January 2021, Loanpal secured $800 million in funding from investors including New Enterprise Associates, West Cap Group, Brookfield Asset Management, and Riverstone Holdings. An extra $800 million was raised in October 2021 from MSD Partners, BDT Capital Partners, and Davidson Kempner. The total capital raised exceeded $1 billion during that year.

Loanpal rebranded as GoodLeap in June 2021 to better represent its broadened mission of financing sustainable home solutions beyond just solar projects—covering energy-efficient windows, HVAC systems, and battery storage—while aligning with goals related to environmental impact and affordability.

In August 2024, GoodLeap introduced GoodGrid, a virtual power plant program in California that integrates customer battery storage systems to enhance electrical grid stability.

Leadership

Hayes Barnard holds the roles of Chairman and CEO. In December 2022, GoodLeap formed an advisory council composed of prominent personalities and business figures such as Tony Gonzalez, Edward Norton, Shailene Woodley, and Jeff Immelt.

As of December 2023, John Shrewsberry, formerly CFO at Wells Fargo, serves as GoodLeap’s chief financial officer. Daniel Lotano, who previously led EverBright as president, is the company’s chief strategy officer.

Ownership structure

GoodLeap offers consumers a variety of residential loan products including mortgages, solar financing options, and home improvement loans. By 2023, it had financed over $23 billion across more than 380,000 households throughout all fifty states for sustainable energy upgrades while maintaining a default rate below one percent. The company is authorized as a seller-servicer for government-sponsored entities Fannie Mae and Freddie Mac and has raised upwards of $2.25 billion to support its consumer lending initiatives.

Controversies

In 2008, Washington state mortgage regulators sought to revoke Paramount Equity Mortgage's license and imposed a $500,000 penalty due to alleged deceptive lending activities. These accusations encompassed charging fees without justification, providing misleading information regarding interest rate buy-downs, and neglecting to furnish mandatory disclosures. The lawsuit named the company along with its three founders. The matter was resolved through a settlement obligating Paramount to remit $253,366 to the state, issue $139,075 in restitution to 52 affected clients, update its advertising practices, and address additional compliance issues while maintaining business operations.

By 2024, multiple lawsuits and arbitration proceedings have been initiated by GoodLeap customers claiming they were deceived into accepting burdensome loans or enrolled without their authorization.

On March 8, 2024, the Minnesota Attorney General initiated legal action against GoodLeap alongside three other financing companies—Sunlight Financial, Solar Mosaic, and Dividend Solar Finance (a subsidiary of Fifth Third Bank)—alleging breaches of state statutes related to deceptive trade practices, unlawful lending, and usurious interest rates.

Following investigations in Orleans Parish, GoodLeap has canceled more than 20 fraudulent liens and loan agreements. The company affirms its dedication to resolving client issues and enhancing transparency.

See also

GivePower