In most cases, the first step in obtaining approval for CPACE funding is to obtain the lender's consent. requirements do vary by state.
Peachtree Group is a direct lender that can work with your preferred construction lender or bring alternative sources of construction financing to the deal.
Getting Approval from PACE Administrators
Peachtree helps you get your documentation to apply for CPACE funding. Some of the items required include:
- An appraisal of the value of your property after your project is completed.
- A Phase I Environmental Report
- A Title Report
- An Energy Engineering Report
- Mortgage loan documentation
- Three years of historical or projected operating financial statements.
- Documentation of commercial property insurance
- Copies of construction contracts
- A copy of the PACE program administrator's final application
Peachtree Group Approval Process
- Determine states eligibility.
- Review construction improvements to find eligible costs for funding.
- Issue term sheet and receive borrower's deposit.
- Work with the property owner to educate senior lender and obtain lender consent.
- Underwrite the project and work with the state's program to obtain approval and close.
Learn more about CPACE Financing or contact Peachtree's CPACE team.
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