Greenworks Lending is the country’s leading commercial PACE lender. The company was founded in 2015 by the architects of the Connecticut Green Bank’s award-winning C-PACE program to spread the structure across the country. Greenworks now lends in ten PACE programs across nine states and the District of Columbia. We are a partner to:
- Building owners looking to fund NOI-positive building upgrades or replace aging equipment
- Contractors seeing to incorporate PACE’s immediate cash flow benefits into their product offerings
- Banks who would like to offer PACE as a value-added service to their clients.
Greenworks is currently operating in ten markets: CT, RI, MD, DC, MO, OH, TX, WI, and CA with plans to move into MA in Q2 of 2017. We finance a wide range of energy and water saving upgrades in all standard commercial and industrial property types. PACE’s property-value based underwriting allows us to fund projects for a wide variety of businesses and ownership structures. PACE financing works best for projects above $100,000.
Greenworks Lending specializes in commercial property assessed clean energy (C-PACE) financing. C-PACE provides 100% financing for energy and water saving projects. Building owners repay the up-front investment via an annual property tax assessment charge over the life of the upgrades. C-PACE’s long repayment periods allow most projects to generate day one net cash flow for the property. The structure is simple and secure for owners: It doesn’t tie up the corporate balance sheet and requires no personal or corporate guarantees. Payment responsibility can be passed through to tenants where appropriate.
Name: Andrew Zech
Title: Head of Business Development
Telephone number: (443) 226-4636
Greenworks Lending was founded in 2015 by the architects of the Connecticut Green Bank’s C-PACE program and lends in ten PACE programs across nine states and the District of Columbia.
|$31 MillionAs of December 2017|