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PACE is a New Instrument to Fund Energy-Related Improvements to Commercial Real Estate

Property Assessed Clean Energy Financing

Property Assessed Clean Energy (PACE) is a new instrument for commercial property owners to finance energy efficiency and other improvements to existing buildings, or as gap financing for new construction.

WHAT IS PACE?

Property Assessed Clean Energy (PACE) is a new instrument for commercial property owners to finance energy efficiency and other improvements to existing buildings, or as gap financing for new construction.

To date, 20 states and D.C. have active PACE programs to fund renewable energy, energy efficiency, water conservation, weatherization and natural disaster resiliency improvements. Puerto Rico has a similar program to fund tourism-related projects, where the CBO Team is pioneering its use.

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Additional Information

We are here to help you with any questions you might have. Feel free to submit a Free Project Analyis Request for more detailed information regarding your specific scenario.

Benefits of Pace
  • No down payment, 100% funding for improvements up to 35% of the building’s value
  • Easy to qualify, since the loan is against the property the owner’s credit is not a deciding factor
  • Fast approval and funding
  • Immediate positive cash flow for energy improvements with no money down, while increasing property value by lowering operating expenses
  • Payments stay with the property if it is sold
  • Off-balance sheet, no mortgage is recorded against the property
  • Better rates and terms due to repayment from tax assessment, up to a 30-year term
How to Apply

How to Apply to Property Assessed Clean Energy (PACE)

  1. Check Eligibility – Contact Us
  2. Complete Initial Application – Download Application
  3. Secure Initial Approval
  4. Finalize Design & Secure Permits
  5. Finalize Loan Documentation & Funds
  6. Complete Project

 

*Property-Assessed Financing approvals are typically provided in 3-7 days. For other programs, you will receive customized options and next steps.

Learn more about these and other programs by contacting our offices today.

Our Financing Programs
EPA Programs
USDA Programs
Other Funding Programs

CBO Financial focuses on economic, environmental, and societal benefits to empower businesses, nonprofits, and municipal agencies to create jobs, improve infrastructure, and enhance the quality of life in underserved areas. By combining public and private funding sources, CBO Financial ensures that projects in low-income communities can progress efficiently and cost-effectively, driving meaningful revitalization.We’ve financed over $1 billion in high-impact investments nationwide, including $150 million using New Markets Tax Credits awarded to a CBO subsidiary. Backed by powerful funding tools and expertise, you’ll be pushed through to the finish line.

New Markets Tax Credit Programs

A federal subsidy program designed to revitalize distressed communities by providing forgivable gap financing for up to 25% of costs for high-impact projects.

New Markets Tax Credits
 

Capital Magnet Fund

Grants up to $15M to CDFIs and nonprofit housing organizations to finance affordable housing and related economic development activities.

Capital Magnet Fund
 

Bond Guarantee Program

A program that provides CDFIs with access to long-term, low-cost capital by guaranteeing bonds issued by qualified CDFIs, providing fixed rate financing for up to 29 years at ~100 bps over Treasuries.

Bond Guarantee Program
 

CDFI Certification

A designation for specialized financial institutions that provide financial products and services in low-income communities and to targeted populations that lack access to financing.

CDFI Certification
 

Technical Assistance Awards

Grants up to $125K to startup and existing CDFIs to build capacity to serve low-income communities by funding activities such as staff training, technology purchases, and consulting services.

Technical Assistance Awards
 

Financial Assistance Awards

Matching grants up to $2M awarded to CDFIs to enhance their ability to provide loans, investments, and financial services to underserved populations.

Financial Assistance Awards
 

Small Dollar Loan Program

Up to $500K to provide a loan loss reserve to support making affordable consumer loans to low-income individuals for up to $2,500, helping them avoid predatory lending practices.

Small Dollar Loan Program
 

National Community Investment Fund

Loans and guarantees will be made directly to projects with this funding starting in early 2025.

National Community Investment Fund

 

Clean Communities Investment Accelerator

Provides community lenders with grants up to $11M to help accelerate investment in clean energy and sustainable infrastructure projects in low-income communities.

Clean Communities Investment Accelerator

 

Business & Industry

A program that provides loan guarantees up to $25M to rural businesses to improve, develop, or finance business, industry, and employment.

Business & Industry

 

Community Facilities

A program that offers direct loans, loan guarantees, and grants to develop essential community facilities in rural areas up to $5M.

Community Facilities

 

Rural Energy for America Program

A program that provides grants up to $1M and loan guarantees to agricultural producers and rural small businesses for renewable energy systems and energy efficiency improvements.

Rural Energy for America Program

 

Federal Historic Tax Credits

The federal Historic Tax Credit is available for the rehabilitation of historic, income-producing buildings determined by the Secretary of the Interior, through the National Park Service, to be “certified historic structures” for approximately 20% of project costs.

Federal Historic Tax Credits

 

Tax Exempt Bond Funding

Tax Exempt Bond Funding provides low-cost financing for qualified projects by enabling borrowers to access capital at tax-exempt interest rates. This program supports infrastructure, housing, and other eligible projects, fostering economic growth and community development.

Tax Exempt Bond Funding