The Navigator Pre-Development Loan provides an unsecured line of credit to finance pre-development energy projects in non-profit and multifamily properties. Navigator funding allows owners to connect with technical service providers for project analysis, design, and implementation.
- Affordable and market-rate housing
- Non-profit properties
- Retrofits and new construction
- Costs to design a clean energy project, including:
- Energy benchmarking, opportunity assessments, audits
- Green charrettes and green physical needs assessments
- Assessments of energy-related health and safety issues
- Design, engineering and bidding work
- Costs to secure project financing for energy upgrades
- Other reasonable expenses needed to get an energy project designed and funded
- The Navigator Pre-Development loan can fund up to 75% of the eligible pre-development costs. Financials will be evaluated to determine owner’s ability to fund the required 25% loan co-pay.
Loan Terms & Rates
|Rates||1.99% for affordable properties and 3.99% for market-rate properties|
Maximum loan size: $250,000
Interested property owners must submit a loan application, which consists of a proposed project description, summary of qualifications of proposed pre-development vendors, and property financials (including insurance).
Contact us to learn more.