How does Commercial PACE work?
How do I apply for PACE?
Easy! Click here or go to www.lordcappace.com/apply to fill out an online application. If you'd like some guidance going through the application, we're happy to help. Give us a call at at (212) 400-7142 or fill out the form at the bottom of this page and we'll help you get started.
Why should a property owner consider C-PACE?
C-PACE removes many of the barriers to going green, allowing you to enjoy the advantages of energy upgrades immediately and pay for them over time through a voluntary benefit assessment lien. This additional tax is levied and recorded against the benefiting property and is simply paid along with real property taxes. And because you're saving money on energy costs, most borrowers see net savings from day one. It's a safe investment that let's you go green and save money.
What are the benefits of C-PACE?
There are a myriad of benefits from investing with C-PACE! For starts, it allows building owners to:
Take control and save money
Take control of their energy costs to save money and increase their bottom line. Positive cash flows resulting from lower, more predictable energy costs allow you to focus on your core business.
Make the building more comfortable
Invest in upgrades that improve your building, making your facility more enjoyable and attractive for you, your employees, tenants, or customers.
Act with confidence
You can finance 100% of green energy upgrades. Experts develop credible energy savings projections that make building owners confident that energy savings should be greater than their investment.
Is my property eligible for C-PACE?
Will LordCap PACE put a lien on my property?
LordCap PACE financing is secured by a voluntary property tax assessment. The assessment is placed by your municipality and is simply repaid as part of your property taxes, much like other tax assessments routinely used to finance infrastructure upgrades. Like with real estate taxes, a lien is only created in the case of a delinquincy.
What kind of projects are eligible?
What project sizes are eligible for LordCap PACE?
Typical projects are around $10 million, though we are happy to provide financing starting as low as $100,000. We're proud to provide PACE financing with no upper limit, with our larger projects in excess of $200 million each.
What are the typical terms of C-PACE?
We are proud to offer some of the most competitive rates in the business on a case-by-case basis. Payments never increase, giving you control of your finances. Repayment periods are available from 15 to 30 years with most of projects opting for a 25 year lifespan, lowering their monthly payments so they can start saving right away!
Are religious organizations eligible?
Yes! LordCap PACE financing is available to all eligible building owners regardless of whether the building is owned by a religious institution. LordCap PACE financing is available for qualifying physical improvements to the buildings of religious institutions on the same basis as the financing of improvements to the buildings of other organizations within our footprint. Religious institutions are eligible to participate in programs/states where LordCap PACE is authorized as a Capital Provider.
What about new construction projects?
We've got that covered too! LordCap PACE allows for the use of PACE financing to fund energy- and water-saving improvements and related building upgrades in new construction and substantial rehabilitation projects. For new construction, PACE is eligible for up to 20% of the capital structure. Call us at (212) 400-7142 or contact us below about the technical application required for new construction projects.
In which states does LordCap PACE participate?
We're present in most states with PACE programs. Check out the map on our application page to see if we're active near you!