Businesses Without Investment Grade Credit Tap PACE
Figtree Financing says it has funded nearly $4.5 million in commercial Property Assessed Clean Energy (PACE) projects in the last 45 days. The projects were funded under Figtree Financing’s Commercial PACE Program using $60 million in committed capital for energy upgrades. Its commercial PACE program was launched in 2014.
The recent projects were conducted for businesses and nonprofits that did not have investment-grade credit and had limited options for energy and water conservation financing. The projects, located across northern and southern California, include improvements to private universities, offices, industrial buildings, golf courses, healthcare facilities and houses of worship, ranging in size from $50,000 to $1.5 million.
These projects deliver substantial savings on utility bills, and they support state, county and city goals of emissions reduction.
Figtree Commercial PACE Financing provides property owners with no-money-down, long term, low interest rate financing to improve properties with energy efficiency, renewable energy and water conservation upgrades. Commercial PACE from Figtree Financing is now available in more than 120 cities and counties throughout California.
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