C-PACE for Capital Providers
The MD-PACE program is an open source funding model – meaning that any capital provider can lend!
C-PACE surcharges are a great opportunity for lenders because they are secure investments. Like a property tax lien, the surcharge lien securing the C-PACE financing has priority over other liens on the property. Therefore, the risk of loss from non-payment of a C-PACE loan is minimal compared to most other types of loans.
C-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 C-PACE statute requires their written consent to the C-PACE surcharge as a condition to obtaining a C-PACE loan. Importantly, the C-PACE surcharge does not accelerate in the case of a delinquency or default.
The MD-PACE program has established best-in-class servicing for C-PACE surcharges – providing much needed confidence to lenders. We have leveraged C-PACE experience and technology to help develop a highly efficient C-PACE administration and servicing platform. All of which has earned us national recognition as the gold standard in C-PACE financing.