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Finance Product Details

Bay Area Multifamily Capital Advance Program with M-Core Credit
Lender: Bay Area Multifamily Capital Advance Program with M-Core Credit
Website: http://bayareamultifamily.org/programs
Email: michael@m-corecredit.com
Phone: (845) 369-8777 , ext. 221
Product Description
The Bay Area Multifamily Capital Advance Program (BAMCAP) offers assistance to bring down a lender's interest rate when financing energy projects. BAMCAP provides loan capital at 0% interest to the lender, which means that the property owner. M-Core Credit is a pre-qualified lender for the BAMCAP program.
Miscellaneous Information
The program's share of the financing is limited to no more than 50% of the cost of the approved scope of work minus any program incentives and caps at $500,000.
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Verified by Lender on: 9/6/2016 0
The data provided is for informational purposes only. For actual loan terms specific to borrowers, contact the lender directly.
Property Types
Sponsor:
Bay Area Regional Energy Network
Financing Type
Secured
Financing & Payment Information
Rate (APR):
Market Rate
Term (years):
3 - 7 years
Minimum Amount:
$50,000 +
Maximum Amount:
N/A
Fees:
One-time fees
Down Pmt. Required:
No
Re-pmt. Method:
Off-bill loan (Direct to Lender)
Pmt Frequency:
Monthly
Pre-pmt Penalty:
Yes
Allowable Projects
Funds Energy Efficiency projects
Funds Water Efficiency projects
Funds other energy-related projects
Alterations necessary to address basic health & safety needed to complete the project (a cap on the amount applies).
Other Program Requirements
Financing Approval Time
More than 48 hours
Equity in Property Needed
No