Cross River backs GoodLeap's HELOC card with $50M credit facility

What's the deal? Cross River Bank has provided US$32.4M revolving credit facility to GoodLeap and will issue the fintech's new GoodLeap Home VisaDealroom has a profile for this one. Try Dealroom → Signature Card. The facility, structured by Cross River's Principal Finance Group, finances the card, which is backed by a home equity line of credit (HELOC).

What's the product? The card lets homeowners tap home equity for improvement projects and everyday purchases at rates below the average credit card. Users earn up to 6% cash back on qualifying home improvements started in the GoodLeap Home app.

What's the endgame? GoodLeap, a technology platform for sustainable home products, wants to turn dormant home equity into a usable spending tool. "Homeowners have never lacked equity, they've lacked a partner who helps them use it," said Dan Lotano, chief operating and strategy officer at GoodLeap.

The company says more than 1.7 million homeowners have used its financing for products such as solar panels, batteries, HVAC systems, and roofing.

Why Cross River? The deal bundles warehouse lending, card issuance, and payment infrastructure into a single institution. "This partnership showcases what's possible when fintechs can plug into a fully integrated payments and lending stack from day one," said Adam Goller, head of fintech banking at Cross River.

The signal: Cross River is positioning itself as a full-stack infrastructure partner rather than a single-service provider, a pitch aimed at fintechs that want lending and card capabilities from one source. The GoodLeap card shows how HELOC-backed products are moving into everyday consumer spending, not just lump-sum borrowing.

Read more: business.thepilotnews.com

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