Stream Innovations Secures $400 Million Facility from Goldman Sachs

Business News

CONSHOHOCKEN, PA — Stream Innovations Inc. has secured a $400 million warehouse facility from Goldman Sachs Bank USA. The funding will support the expansion of Stream’s growing portfolio of home improvement loans.

Stream’s main partner is Power Home Remodeling, the nation’s largest full-service exterior home remodeler. Power specializes in energy-efficient exterior home improvements. Currently, Stream manages $670 million in loans and expects to originate over $800 million in high-quality home improvement loans in 2024.

“Stream focuses on financing sustainability-related home improvement projects,” said PJ Singh, CEO of Stream Innovations. “We combine advanced origination technology with empathetic servicing, ensuring the quality of our loans. This significant financing from Goldman Sachs validates our vision and work. It offers substantial growth and innovation opportunities early in our company’s history.”

Stream Innovations has also updated its name from Stream Financial to reflect its advanced technology and broader goals. Additionally, the company has moved to a new office space in Conshohocken, PA. This location offers easy access to Philadelphia, the international airport, and surrounding areas, setting the stage for a fivefold increase in staffing.

The new funding and strategic changes position Stream Innovations for sustained growth and enhanced service in the home improvement loan sector.

For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and Microsoft Start.

READ:  STRATA Skin Sciences Reports Preliminary Q2 Revenue of Up to $8.4 Million