Momnt/Saluda Grade get $200 million asset-backed revolver

By Wendy Van Sickle

Columbus, Ohio, Jan. 11 – Momnt and Saluda Grade closed an asset-backed revolving warehouse facility of up to $200 million from Macquarie Group, according to a news release.

The facility provides the Momnt/Saluda Grade joint venture with the additional capacity to purchase Momnt-facilitated home improvement loans, which will allow the joint venture to provide U.S. homeowners with improved access to home renovation financing.

“We believe Momnt is poised to become a market leader in home improvement financing via embedded technology,” Brad Hartung, senior portfolio manager at Saluda Grade and board member at Momnt, said in the release. “We have been impressed with their ability to scale and execute, and we believe they will continue to effectively address the need to improve the aged U.S. housing stock through differentiated financing options.

“In addition to the recently announced MMNT 2023-1 securitization, this warehouse facility from Macquarie is another clear indication of growing interest in the asset class and a strong vote of confidence in Momnt as a market leader.”

Based in Atlanta, Momnt is a fintech company specializing in real-time lending and payment solutions for businesses. Saluda Grade is a vertically integrated investment platform investing in emerging asset classes within the U.S. real estate sector.

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