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Energy Efficiency Financing for Business

Getting Started

PACE financing offers a broad range of benefits to eligible commercial building owners and energy efficiency/renewable energy contractors.

Below are the steps to access and use PACE financing for your project through Set the PACE St. Louis:


1
Property owner submits an application with $25.00 fee and gets preliminary approval for participation. This will determine basic eligibility for the program and scope of the project based on information supplied by the property owner. Property owners will be contacted within 48 hours for preliminary approval and for next steps.

2
Contractor engaged and project designed. The property owner can select a participating energy consultant to analyze their property to generate a project plan to maximize their property's energy efficiency. If the property owner has a contractor that they prefer to work with, the contractor can sign up as a participating contractor for the program.

3
Design phase completed. Once the energy consultant has generated a project plan, the property owner will decide how much of the plan will be implemented and selects contractor(s) to perform the work.

4
Loan application documents forwarded to lending institution. The property owner then completes a full loan application to accompany the work plan and cost estimates which will be reviewed and approved by the lending institution. The cost of the energy consultant could be included in the loan to reimburse the property owner.

5
Construction phase. Once financing has been approved for the project by the lending institution, construction of the improvements will begin. For larger projects, progress payment(s) can be made.

6
Work completion and payments disbursed. Once the project is completed, the property owner will verify with the lending institution and the program administrator that the work has been completed. All construction liens will be signed off on and funding completed. In a typical scenario, funds should be available within days of the verification being sent to the lending institution.

7
Measurement and verification. As part of the verification process, the property owner will be asked to sign a release to allow the program administrator access to their utility bills for the year prior to improvements through the completion of the improvements and the final payment of the loan. This is so the Program Administrator can verify that the Set the PACE St. Louis program is saving energy and the property owners are saving money.

8
Ongoing payments. The property owners will make payments directly to the lending institution per the terms of their financing. Only in the event of a default will an assessment be recorded.

Do you have a project you want to finance with Set the PACE St. Louis? All you need to start is your contact information. Start the online application now or download the printable version.

We want to help you access PACE financing. Feel free to contact us with any questions.

Set the PACE St. Louis
314.499.8756
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