Providing Capital for Sustainable Upgrades
Commercial Property Assessed Clean Energy Lending, or “C-PACE” for short, provides loans to business owners to install energy efficient upgrades to their commercial buildings.
The C-PACE program is run on a state-by-state basis, with more than 37 states currently enrolled in PACE lending. Sunrise Banks provides C-PACE loans to Minnesota businesses looking to implement sustainable building renovations and energy efficient upgrades, including solar panels, high-efficiency lighting, electric car charging ports and more.
A C-PACE loan is beneficial for business owners because it requires no up-front costs; at the same time, it incentivizes purchasing environmentally-friendly infrastructure that doesn’t emit greenhouse gasses.
C-PACE lending is paid back through property taxes and allows business owners to increase their cash flow thanks to energy savings.Apply for C-PACE Lending
C-PACE Loans That Work For Your Small Business
C-PACE lending helps business owners afford energy-efficient projects they might otherwise put off due to high initial costs.
- C-PACE loans require no money down from borrowers
- The C-PACE program can cover up to 100% of qualifying costs
- Payment terms of up to 15 years are available
- Funding is paid back through a special property tax assessment
- C-PACE loans can cover equipment, installation, permit, inspection, design and labor costs for eligible projects
Projects eligible for C-PACE loans include, but are not limited to, energy efficient upgrades such as:
- Solar power projects
- Wind power projects
- Projects that include infrastructure for charging electric vehicles
- High-efficiency lighting projects
- Heating, Ventilation and Air Conditioning (HVAC) upgrades
- Solar thermal projects
- Fuel cell projects
Who Qualifies for a C-PACE Loan?
Any Minnesota commercial property owner who pays taxes may be eligible for C-PACE lending. Property owners in the hospitality, retail or nonprofit sector may apply.
Applicants must be up to date on all taxes and mortgage payments, and not be involved in any current bankruptcy proceedings.