Commercial Financing Opportunities
SoCalGas 0% On-Bill Financing
SoCalGas offers qualified customers 0% unsecured loans to finance the purchase and installation of eligible energy efficiency upgrades. Loans are unsecured and non-transferable. Monthly repayments are billed to utility bills.
-
Eligibility:
-
Open to non-residential customers and owners of multi-family units that do not reside on the premises
-
Account must be active for the past two years in the same business and in good standing
-
Equipment must be installed at the meter of the account holder of record for which the loan is being made
-
Project must meet terms and conditions of any energy efficiency programs offered by SoCalGas
-
Loans are offered only to projects that quality for at least one of SoCalGas' energy efficiency programs
-
Loan Amounts:
-
$5,000 to $100,000 with a maximum loan terms of 5 years or useful equipment life (whichever is shorter)
Dividend Commercial PACE Program
Property Assessed Clean Energy (PACE) is a public/private mechanism for financing solar, energy efficiency, renewable energy, water conservation, and seismic upgrades on privately-owned real property. This financing mechanisms creates as assessment lien on the property that is repaid as installments on property tax bills.
-
Eligibility:
-
All commercial property types are eligible
-
Property must be located in a participating city: Azusa, Claremont, Glendora, or South Pasadena
-
Not be in bankruptcy and must not have been in bankruptcy in the past 5 years
-
Mortgage balance must not be an amount greater than the property's total value
-
Current on taxes owed on the property and must not have been delinquent in the past 3 years or since owning the property
-
Loan Details:
-
No down payment
-
Low-fixed interest
-
Up to 25 years