Capital Providers

The MD-PACE program is an open source funding model – meaning that any capital provider can lend!

PACE surcharges are a great opportunity for lenders because they are secure investments. Like a property tax lien, the surcharge lien securing the PACE financing has priority over other liens on the property. Therefore, the risk of loss from non-payment of a PACE loan is minimal compared to most other types of loans.

PACE surcharges provide lenders with an attractive new product to assist existing and new customers in addressing an almost universal pent-up demand for needed commercial and industrial property equipment modernization. In order to protect the interests of holders of existing mortgage loans on the property, the Maryland PACE statute requires their written consent to the PACE surcharge as a condition to obtaining a PACE loan. Importantly, the PACE surcharge does not accelerate in the case of a delinquency or default.

The MD-PACE program has established best-in-class servicing for PACE surcharges – providing much needed confidence to lenders. As the administrator of the MD-PACE program, PFS is unique among administrators in that we have thirty years of industry experience in tax collection, relationships with over 25,000 taxing jurisdictions and currently service over $500B in real estate loans. We have leveraged PACE experience and technology to help develop a highly efficient PACE administration and servicing platform. All of which has earned us national recognition as the gold standard in PACE financing.

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