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PACE Lenders - Stonehill PACE
Your PACE lenders can help provide funding for building projects even after you’ve completed the work in some cases!

If you’ve recently made upgrades to your building or used innovative energy-efficient design and building elements on your completed construction project, talk to our PACE lenders about retroactive financing. 

Recently Completed Work that Is Energy Efficient? Talk to our PACE Lenders about Retroactive Funding

Why consider retroactive financing from our PACE lenders? PACE offers many benefits for property owners, including competitive interest rates, long loan terms (up to 30 years), and payments as an item listed on your property taxes. 

Many property owners may face cash flow issues after investing in improvement projects. However, retroactive PACE loans can help improve cash flow and stabilize your capital stack. Also, there are no personal guarantees and generally the loan stays with the property. Therefore, you’re off the hook for loan repayment if you decide to sell your property later.

Retroactive funding works much the same as normal pre-project funding. However, one of the main differences is that the loan term is usually based on the remaining useful life of your upgrades. For instance, if the useful life for the improvements is 30 years and you apply for financing one year after, then the loan term would likely be 29 years or less.

Some states that allow for retroactive commercial PACE include:

  • California 
  • Connecticut 
  • Florida
  • Kentucky 
  • Michigan 
  • Minnesota 
  • Missouri 
  • New York
  • Ohio 
  • Pennsylvania 
  • Rhode Island
  • Wisconsin

Also, there are several states that don’t have specific language in their PACE legislation. This means that eligibility is up to the local program administrator. We have strong relationships with administrators to help you through the qualification process. 

In addition, the amount of time we can retroactively finance your project depends on your location. Some limit it to a few months. By contrast, other states allow for up to three years of look back. Our PACE lenders can help you determine if you qualify and help make the process simple and convenient. 

A Wide Range of Projects Qualify for PACE Financing

You may be surprised at the many different upgrades and building features that can qualify for PACE funding. Many building owners do these projects already, to help save money on utility costs, maintenance, and also draw in tenants. For example, efficient HVAC systems are a common upgrade you may have completed recently. These loans can also help cover both hard and soft costs for qualifying projects.

Some projects our PACE lenders may offer retroactive funding for include:

  • LED lighting installation
  • Low-E windows
  • Water conserving plumbing fixtures
  • High efficiency insulation
  • Energy efficient roofing

The basic requirements for PACE financing are generally that there are no liens or unpaid property taxes, the project will help save more money than the cost of the loan, and the value of the project should last longer than the loan term. 

Many property owners are pleasantly surprised when they speak to our PACE lenders about projects that qualify. Even no-brainer projects like replacing an old appliance (like water heaters and HVAC systems) with a new, energy-saving one may qualify. 

Choose Stonehill PACE for Low Cost Financing

Our professionals at Stonehill PACE help you find the most cost-effective financing solutions for your commercial property. If you need low cost, fixed rate, and non-recourse funding, our professionals are here to help. We work with commercial properties of all types to help you optimize your capital stack with PACE funding. Call us today at (678) 832-9313 to start discussing your loan options!