Monthly Archives: May 2014

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MEDIA RELEASE
FOR IMMEDIATE RELEASE

 

CONTACT: Ryan Ahearn, Figtree Financing
rahearn@figtreefinancing.com
Direct: (858) 771-0896

 

New Program Reduces Financing Costs and Increases Speed of Commercial Property Funding in Response to Growing Demand

(San Diego, May 10, 2014)Figtree Financing has funded its first two projects with OnDemandPACE financing, a new program designed to reduce the cost of financing and increase the speed of funding for commercial PACE (Property Assessed Clean Energy) projects.

Figtree recently partnered with a New York-based financial institution for $60 in committed capital to fund commercial PACE upgrades, enabling Figtree to expand the program. The two new projects, with a combined value of more than $350,000, bring Figtree’s total financed projects to date up to $2.4 million.

Figtree is the only private commercial PACE program that is successfully funding small and large projects in response to ongoing demand,” said Ryan Ahearn, Vice President of Marketing, Figtree. “This program serves to improve the PACE financing process for property owner’s in response to the momentum and interest we’ve seen this year.”

One of the projects, a cool roofing upgrade to an office in Rancho Cordova, CA, is the first Figtree has funded in Sacramento County and is being completed by Highland Roofing.  The second project is a print shop and office space adding rooftop solar in Chico, CA; the partner is Urban Design Solar.

The Figtree OnDemandPACE Program allows Figtree to provide a lower total cost of financing and enables projects to be funded more quickly. Projects can be funded every 15 days, eliminating delays and bottlenecks. In addition, Figtree now offers more cost-effective capital for larger transactions, making energy paybacks and cash flows more attractive than ever.

In less than one year, Figtree’s territory has expanded from 25 cities and counties to 55, and has also doubled its contractor network.

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