Unsecured
Finance Vendor Details
CEC Energy Efficiency Financing Program
Lender:
California Energy Commission (CEC)
Contact Information
Website:
http://www.energy.ca.gov/efficiency/financing/
Phone: (916) 654-4104
Email: pubprog@energy.ca.gov
Phone: (916) 654-4104
Email: pubprog@energy.ca.gov
Property Types
Program Description
The California Energy Commission's (CEC's) Energy Efficiency Financing Program offers loans of up to $3 million to public agencies to pay for energy saving measures. The interest rate is 0% for a term up to 20 years for school districts, charter schools, county offices of education, state specialist schools and community college districts. The loan requires the agency to pass a resolution to participate and to execute a promissory note with the CEC.
The California Energy Commission's (CEC's) Energy Efficiency Financing Program offers loans of up to $3 million to public agencies to pay for energy feasibility studies and installation of energy saving measures. The interest rate is 1% for a term up to 20 years for cities, counties, special districts, public universities and colleges (except community colleges) and public care institutions. The loan requires the agency to pass a resolution to participate and to execute a promissory note with the CEC.
The California Energy Commission's (CEC's) Energy Efficiency Financing Program offers loans of up to $3 million to public agencies to pay for energy feasibility studies and installation of energy saving measures. The interest rate is 1% for a term up to 20 years for cities, counties, special districts, public universities and colleges (except community colleges) and public care institutions. The loan requires the agency to pass a resolution to participate and to execute a promissory note with the CEC.
Verified by Lender on: 9/25/2015
The data provided is for informational purposes only. For actual loan terms specific to borrowers, contact the lender directly.
Types of Financing
Financing & Payment Information
Term (years):
1 - 20
Minimum Amount:
$1
Maximum Amount:
$3,000,000
Fees:
None
Money Down Required:
No
Repayment Method:
Off-bill loan (Direct to Lender)
Payment Frequency:
Semi-Annual
Pre-Payment Penalty:
No
Allowable Projects
Funds Energy Efficiency projects
Funds Renewable Energy projects
Funds Demand Response projects
Funds other energy projects
Funds other energy-related projects
Other Program Requirements
Financing Approval Time
More than 48 hours
Equity in Property Needed
No
Financial Products
| Lien type | Unsecured loan | Unsecured loan |
| Re-Payment Method | Off-bill loan (Direct to Lender) | Off-bill loan (Direct to Lender) |
| Property Types | ||
| Automatic payment option available | No | No |
| Requires utility incentive program participation | No | No |
| Must use Program's pre-approved contractors | No | No |
| One-time fees (% of total financing) | ||
| One-time fees (fixed) | ||
| Ongoing fees | ||
| Financing Amount | $1 - $3,000,000 | $1 - $3,000,000 |
| Financing Term (yrs.) | 1 - 20 year(s) | 1 - 20 year(s) |
| Rate | 0% | 1 - 1% |
| Money Down Required? | No | No |
| Credit Enhancement Available | No | No |
| Transferrable | No | No |
| Prepayment Penalty or Fee | No | No |
| Tax Deductibility | No | No |
| Minimum Credit Score Required | ||
| Equity in Property Required | No | No |
| Debt to Income Ratio Required | No | No |
| Involuntary Property Liens Allowed | No | No |
| Foreclosures Allowed | ||
| Bankruptcies Allowed | ||
| Mortgage Lender Consent/ Acknowledgement | No | No |
| Must be current on property taxes | Doesn't pay taxes | Doesn't pay taxes |
| Must be current on mortgage | No | No |
| Loan to value | ||
| Debt Service Coverage Ratio | No | No |
| Financing Approval Time | More than 48 hours | More than 48 hours |
| Projected Energy Savings/Cash Flow is considered | Yes | Yes |
| Must be current on utility bill | No | No |
Upgrades Covered
No Results
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