Fifth Third Bancorp announced a definitive agreement to acquire Dividend Finance, a provider of financing solutions for residential renewable energy and sustainability-focused home improvement.
“The addition of Dividend Finance to our renewable energy portfolio enhances the scale of Fifth Third’s growing digital service capabilities and supports the Bank’s commitment to environmental leadership in financial services,” said Greg Carmichael, Fifth Third chairman and CEO. “Together, we will help our customers with innovative, technology-driven financial solutions.”
Dividend Finance was founded in 2013 in San Francisco and is one of the top national solar lenders. Dividend’s POS technology platforms enable contractors and homeowners to easily access financing for solar and home improvement projects. LL Funds is the majority shareholder in Dividend Finance.
“We are proud and excited to join the Fifth Third team. Their focus on tech-driven innovation and leadership on ESG matters is well known and will complement our culture. Dividend’s ability to leverage the extensive balance sheet, advantaged cost-of-funds and broader resources of Fifth Third will provide a tremendous edge to our customers and enable us to continue to accelerate growth,” said Eric White, Dividend Finance CEO.
The acquisition is subject to customary closing conditions, including regulatory approvals. Fifth Third currently expects the transaction to close in the second quarter of 2022. Macquarie Capital served as financial advisor and Dentons served as legal counsel to Dividend Finance.
News item from Fifth Third
I have been trying to get a payoff amount from this company for two months. I’ve sent the required information twice now emailed twice with no response. Unfortunately the account was in my late husbands name so I don’t have any access. You would think this company would be eager to get their money before I sell the house. Maybe I should just let it slide, sell the place. Good luck getting their money from my deceased husband.
I am trying to get a refund of $1,102.69 from Dividend Finance for an overpayment sent by my bank by mistake. I paid off the balance of the loan by permitting them to take it out of my bank account. Three days later the original check was posted to my account by Dividend. I spoke to them on 4/17/23 and they acknowleged the overpayment and said the “check” had been returned. I spoke to them on 4/24 when the money was not in my account and was told it should be momentarily refunded. I spoke to them today, 4/26 and was told it will take 15 business days for the refund. I asked for a manager and the reply is you will get a call back in 24-48 hours. When I had called for a pay off amount two months ago got the same reply and never got the call back. If a legitimate bank owns them since 2022, are they taking control of this scam outfit?? BBB rates them a BB. Many complaints. Contacting the Florida Attorney Generals office next.
Dividend financed provided funding for fraudulent contract for solar panels on my mother’s home. She was diagnosed as having dementia and a family member signed the contract
I think,Along w/100’s of others, that Dividend Solar don’t care about how many times or people are ripped off by accepting fraudulent contractors & contract’s from hardworking middle class Americans! They’ve ruined 3 refinancing’s for me and the damn contractors failed all 4 inspection’s & left the my personal property a safety violation! Yet instead of going after contractors they attempt to give me 1/2 off price & 1/2 interest! That’s back in 2000! & instead of going after contractors they try to put a lien on my property &home?!!!! Is 5th 3rd bank going to do the same? I still have NO SOLAR PASS THIS ON TO 5th 3rd BANK OR DO THEY CONSIDER HOW MANY OTHER LIENS THEY CAN GET!