TBL Fund provides financing and technical assistance for Solar installations for households living in multifamily affordable housing (MFAH). With a commitment to innovation, TBL Fund offers a range of energy financing solutions, including energy performance contracts (EPC), property assessed clean energy (PACE), power purchase agreements (PPA), Energy-as-a-Service (EaaS), off-balance sheet financing, and bridge financing. A recognized leader in the sector, TBL Fund seamlessly integrates its financial products with other resources such as tax credits, utility rebates, and Weatherization Assistance Program (WAP) funds, ensuring tailored solutions for every client.
TBL Fund was established to address a significant gap in energy financing, particularly in the MFAH sector. Traditional financiers often lack expertise in energy-specific financing, which disproportionately affects MFAH communities. Recognizing the diversity, complexity, and unique characteristics of the multifamily (MF) sector, TBL Fund has consistently delivered innovative approaches to make financing accessible for energy efficiency, renewable energy, and water conservation projects.
Currently, TBL Fund is collaborating with its preferred partner, Finance For Impact (FFI), to provide bridge financing for a project encompassing eight properties throughout the Chicago, IL area. These properties serve as low-income housing for adults with disabilities, and the financing is expected to close in early 2025.
The client had been attempting to transition to solar power for several years but faced persistent challenges in securing financing. The properties carry primary HUD debt, which deterred other financial institutions from approving loans for the solar installation. After learning about TBL Fund’s innovative approach to financing green energy projects, the client reached out for assistance.
TBL Fund, in partnership with FFI, devised a creative financing solution to overcome these challenges. Through bridge financing, FFI assumed ownership of the project, enabling the solar installation to proceed. Once the project debt is offset through tax credits, rebates, and other incentives, FFI will transfer ownership and facilities back to the client. This arrangement ensures that the client incurs no debt or upfront costs.
Additionally, FFI has structured a $0-cost Power Purchase Agreement (PPA) for the client, eliminating rental fees on equipment. The PPA will be fully funded by anticipated incentives, credits, and rebates. This innovative financing model empowers the client to achieve their sustainability goals while maintaining financial stability. By implementing such tailored and impactful solutions, TBL Fund continues to lead the way in driving energy efficiency and renewable energy adoption in the multifamily affordable housing sector.
To learn more about our creative financing approach, visit TBL Fund.org or contact us today at info@tblfund.org