The Navigator Pre-Development Loan provides a lightly secured line of credit to finance pre-development energy projects in nonprofit 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
- Additional qualified pre-development costs (legal fees, environmental, permits, etc.) may be included based on the green building standard the project aims to achieve.
- The Navigator Pre-Development loan can fund up to 80% of the eligible pre-development costs. Financials will be evaluated to determine owner’s ability to fund the required 20% loan co-pay.
Loan Terms & Rates
|Rates||Interest rates are based on project’s green attributes (i.e. Energy Star, LEED Platinum, Passive House, etc.). |
Rates range from 5.5%-7% for projects serving low-income communities and 7.5%-9% for market-rate projects.
Maximum loan size: $2,000,000 (higher loan amounts may be considered on case-by-case basis)
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).
Have a project in mind? Contact us to learn more about the application process.