Commercial PACE Financing
Grow your bottom line and increase your building’s value.
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What is PACE?
PACE stands for Property Assessed Clean Energy. It is financing that allows up to 10-15% of a property’s value to be financed for energy efficiency, renewable energy, or water conservation upgrades. The financing creates an assessment lien on the property and is repaid as semi-annual installments on the property tax bill.
Why PACE?
· Reduce your energy bill
· Increase your property value
· Increase occupant comfort
· Increase net operating income
· No payments until Nov. 2017
How is PACE Different?
· No money down
· Fixed low interest rates
· Long term financing up to 20 years
· Qualifying is property-based not FICO or credit-based.
Who is PACE for?
PACE is for property owners looking to increase their bottom line by reducing energy costs.
PACE will ensure that 100% of the upgrade costs are covered and offers a payment plan over 20 years. Reduced energy costs will help make up for the payments on the upgrades.
If the building is sold, PACE stays with the building, and is easy to transfer between owners (Otherwise known as a debt of property).
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