Medallion Bank (MBNKP) announced it had entered into a definitive agreement with TriBeam Financial to be its finance partner for home solar systems and related products. The Bank is a wholly owned subsidiary of Medallion Financial (MFIN). TriBeam Financial is a fintech company that provides a point-of-sale lending platform for residential solar equipment and home improvement loans in the U.S. through its large network of installers. Donald Poulton, President and Chief Executive Officer of Medallion Bank, stated, “We are pleased to add TriBeam Financial to our strategic partnership program. It has the potential to be our largest partner yet and is a great fit for us since it expands our reach within our home improvement lending segment.” Alexi Evriviades, Founder and Chief Executive Officer of TriBeam Financial, stated, “We look forward to our partnership with Medallion Bank, which brings a wealth of expertise in administering home improvement loans through contractors and offers us the best platform to serve consumers through our national base of solar installers.” Loan origination activities have started under this agreement.
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