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Commercial property owner meeting with PACE lenders
Your PACE lenders help you throughout the qualification process for PACE financing.

If you’re making major upgrades to your commercial building, PACE lenders may be able to help you secure low cost financing to cover the hard and soft costs of your upgrade. Property assessed clean energy (PACE) financing is a type of low cost, non-recourse financing that you pay back as an assessment on your property tax bill. This type of financing is great for upgrades that save you energy and water consumption. One thing to consider is who to trust as your PACE lender. Let’s talk about how to choose the right PACE provider for your needs.

Choose Your PACE Lenders Wisely

If you’re considering CPACE financing for your upgrades, renovation, or construction project, then it’s important to choose the right lender. It’s a common misconception that PACE is funded by the government, but that isn’t the case. While local and state governments do need to pass PACE legislation to allow these types of loans, they are funded by lenders. These lenders generally set many of the conditions of the loan, including interest rates, using legislative guidelines. Therefore, the PACE lenders you choose can have a big impact on the terms of your financing. 

Additionally, PACE lenders affect your experience in the process. Some lenders simply provide the funding, but others can actually help you in many ways, like walking you through the qualifications process and making sure you have the right documentation. For instance, our teams even help you get PACE loans even without changing the scope or cost of your project by understanding the many ways your project can qualify for PACE.

Benefits of CPACE Financing

Reputable PACE lenders can also help you weigh the pros and cons of CPACE for your property. Like with any type of financing, there are many advantages and disadvantages to consider based on your specific situation. 

Some pros of CPACE financing include:

  • Low cost
  • Low interest rates
  • Long term
  • Non-recourse
  • Available for hard and soft costs
  • Up to 25% of the property value
  • Can be transferred with sale of the property

Some cons of PACE include:

  • Payments may be larger sums once or twice per year
  • Increased property tax bills
  • Lots of required documentation to qualify
  • Mortgage lenders may not allow PACE loans

Talk to your PACE providers to understand the pros and cons of this unique type of financing based on your specific property, project, and needs.

Get PACE Loans from Stonehill PACE

If you’re considering PACE loans to help with your property construction, renovation, or upgrade projects, contact our team at Stonehill PACE. We are a direct lender of PACE loans everywhere legislation allows. Our team works with you to determine the right financing options for your needs, whether you’re installing new lighting systems or upgrading HVAC systems. Get in touch with our team today to learn more about our commercial PACE financing solutions.