Monthly Archives: September 2014

rss

MEDIA RELEASE
FOR IMMEDIATE RELEASE

 

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

 

25 new cities and counties join unique commercial financing program



(San Diego, September 2, 2014) – Reporting an impressive 50 percent growth rate in 2014, Figtree Financing’s Commercial PACE program is now available in 78 cities and counties throughout California.  Figtree’s OnDemandPACE program is designed to reduce the cost of financing and increase the speed of funding for commercial energy upgrade projects. The cities and counties are located throughout southern California, the Central Valley, the Bay Area and northern California. Figtree also continues to expand its OnDemandPACE program outside of the state.

PACE or Property Assessed Clean Energy. is a new form of financing that provides property owners with no-money-down, upfront capital to improve properties with energy efficiency, renewable energy and water conservation upgrades based on property values. Figtree offers flexible financing, including five-, 10-, 15- and 20-year loan terms for a variety of improvements, including HVAC, cool roofing, solar and lighting. The financing, potentially off balance sheet, can be used for projects as small as $5,000.

The Figtree PACE Program is designed to pose no legal risk to cities or counties; it is offered through CEDA to only commercial properties with lender acknowledgement for each transaction. In addition, the program has successfully completed a statewide judicial validation. There is no cost to join and cities are fully protected by the indemnification provided by Figtree.  Cities are further protected as CEDA issues the bonds and is responsible for the indebtedness.

A full list of participating cities and counties can be found here.

“To further simplify the process for cities and counties in California, Figtree PACE has received a statewide judicial validation and we don’t require exclusivity.  In fact, we find Figtree PACE actually complements other PACE programs since we are the only program currently offering OnDemandPACE Funding,” Caldwell added. “That’s just one of the reasons for our incredible growth this year.”

 

About PACE

Property Assessed Clean Energy is a new form of financing that provides property owners with upfront capital to improve their properties with energy efficiency, renewable energy and water conservation upgrades based on property values – up to 20% of a property’s value. Figtree PACE financing is available for commercial, industrial, office, retail and multi-family properties of five or more units. PACE requires no money down and provides attractive financing that doesn’t impact a property owner’s credit score or capacity to borrow for other business needs.

 

About Figtree

Figtree Financing is a San Diego-based clean energy financing company providing innovative programs to enable capital for environmentally friendly products and services. The Figtree OnDemandPACE™ Program provides PACE (Property Assessed Clean Energy) Financing to help commercial property owners improve their properties and lower their utility bills with energy efficiency, renewable energy, and water conservation upgrades. Figtree Financing has successfully funded millions of dollars of property improvements with commercial PACE Financing. For more information, please call 1-877-577-7373 or visit www.figtreefinancing.com.

# # #