Navigator Pre-Development Loan

NAVIGATOR
PRE-DEVELOPMENT LOAN


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.

What’s Eligible?

  • 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

Term24 Months
RatesInterest 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)

Next Steps

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. us to learn more.