CLEER Financing Can Be Used on Market and Affordable Multifamily Properties and Common Ownership Communities
The Commercial Loan for Energy Efficiency and Renewables (CLEER) financing can be used by for-profit and nonprofit multifamily property rental owners as well as Common Ownership Associations to support energy savings improvements to their properties. Go to Commercial Properties under All Programs to learn more.
Ascentium Capital LLC and Revere Bank are the Participating Lenders in CLEER. The financing can be used on nonprofit properties in the Pepco service area of Montgomery County. CLEER provides additional funding resources where the Pepco incentives or other grants do not fully cover the costs of the scope of work.
Loan terms vary by lender, but generally:
- Loans may be from $10,000 to $250,000
- 100% financing is available
- Loan terms of up to 12 years possible
- No lien placed on property
Loan proceeds can be used for a variety of energy efficiency measures – including all Pepco Commercial Measures PLUS solar PV, Energy Storage, and HVAC (gas). And, up to 30% of loan proceeds can be used for non-eligible measure improvements to enable you to complete the job!
To learn more:
1) Download the CLEER Program Overview Brochure (in tri-fold pdf format)
2) Contact representatives from each of the lenders:
Mr. Josh Patton, Ascentium Capital LLC
Mr. Horacio Chacon
Is Your Energy Efficiency Project Scope Greater than $250,000?
While some CLEER financings may be able to exceed $250,000, owners of properties considering large energy efficiency projects should also consider Montgomery County Commercial PACE. While not a Montgomery County Green Bank product, you should explore it to determine if it is suitable for your needs. Information on the County’s PACE program may be found at the following link: http://mocopace.wpengine.com/