- For Homeowners
- For Commercial Contractors
- For Residential Contractors
- Partners & Sponsors
December 16, 2020
FOR IMMEDIATE RELEASE
December 16, 2020
National Energy Improvement Fund
TWO LEADING ENERGY EFFICIENCY AND CLEAN ENERGY LENDERS PARTNER FOR JOINT ENERGY LENDING PLATFORM
National Energy Improvement Fund and Greenworks Lending Announce Joint Energy Lending Platform to Deliver Integrated Commercial PACE and Equipment Finance Products to Customers
Allentown, PA and Darien, CT: National Energy Improvement Fund (NEIF), the nation's only Certified B Corporation energy efficiency lender, and Greenworks Lending, the nation's leading Commercial Property Assessed Clean Energy capital provider, have partnered to offer a single, integrated platform that will enable contractors easy, single-stop access to both Commercial Property Assessed Clean Energy (C-PACE) financing and equipment finance agreement based financing for energy efficiency and renewable energy upgrades. This collaboration will, for the first time, make it easy for commercial contractors to offer C-PACE or equipment finance to their customers – enabling instant-response quotes and financing for everything from small $3,000 projects to multimillion-dollar projects. Key elements of the platform are:
- A single, integrated portal through which contractors can access multiple finance offers
- Project sizes from as little as $3,000 to multimillion-dollar accommodated
- Automatic filtering via the new portal to determine appropriate financing options
- Online finance quotes with fast response
- Advanced payments to contractors prior to project completion
- All the benefits of C-PACE's 100% upfront, low-cost, long-term financing combined with an offer including all the benefits of NEIF's equipment financing
"Since 2012, we have worked with NEIF's founders to expand access to financing options for energy efficiency and clean energy," said Genevieve Sherman, Head of New Markets and New Products for Greenworks Lending. "We are thrilled to be teaming up again to expand access to C-PACE in key markets our firms have focused on deepening investment, including all of New England, Pennsylvania, New York, Ohio and Michigan."
"NEIF's portal provides a simple, turnkey interface for contractors and businesses to access low-cost financing options for projects. In adding C-PACE, we are helping them access more capital for larger, deep energy retrofits and clean energy projects that need low rates and longer repayment terms to cash flow for the business. Greenworks brings the best-in-class execution on C-PACE funding and national footprint that can support our network," said Matthew Brown, Co-Chair and Founder of NEIF.
Since 2018, NEIF has supported hundreds of energy efficiency and solar contractor access to customized lease and loan financing options for energy efficiency and clean energy improvements such as lighting, HVAC, and renewable energy with project sizes generally ranging from less than $10,000 to $1M. With NEIF's easy to use portal, users can create a financing estimate for both contractors and customers in less than two minute's time and easily apply online.
Greenworks Lending will now offer C-PACE financing nationally to NEIF's partners through this integrated and proprietary online portal. Users will be able to compare all financing options, including C-PACE financing, which will offer low rates, and long repayment periods. Greenworks Lending's C-PACE financing will be available to all NEIF partners for projects >$250,000. The portal is expected to launch in Q1 of 2021 for customers to access NEIF and Greenworks' pricing options for energy efficiency and clean energy finance.
With a lending legacy from 1947, the National Energy Improvement Fund was organized in 2017 as a for-profit Benefit Corporation, operating as a full-service, multi-state licensed consumer and commercial lender. It has funded nearly 5,000 energy and resilience improvements like HVAC, roofing, lighting and battery storage for homes and businesses delivered through a network of over 700 qualified contractors. Led by energy financing pioneers Peter Krajsa and Matthew Brown and a team responsible for over $800 million in energy financing programs, it received its certification as a B Corporation® in 2018 and was named a U.S. Department of Energy Home Improvement Expert™ Partner in 2019.
Greenworks Lending is the largest provider of Commercial Property Assessed Clean Energy (C-PACE) financing in the country. Led by several of the C-PACE industry's founding policy developers and standard-setters, Greenworks Lending is a private capital provider uniquely dedicated to funding commercial real estate through C-PACE. Greenworks has provided financing to hundreds of commercial properties and is active in more than 25 states. Greenworks Lending's C-PACE financing makes clean energy a smart financial decision for commercial property owners and developers nationwide. For more information visit www.greenworkslending.com.
# # #