We are pleased to announce the launch of our special 10-year Government Finance Program for municipal, county and state entities and their subdivisions, such as schools, universities and water departments as well as their community renewable energy projects.
Transaction sizes may range from $300,000 to $5 million.
These customers will be very familiar with this special type of financing known in the industry as a “municipal lease” because it has been used for decades as a way for them to obtain a variety of equipment, such as police cars, fire trucks, computers and school furniture.
Now available for solar, microgrids, and other energy projects through CleanView Capital, the municipal lease is not debt. It is off-balance sheet financing! Key benefits of our program include customers keeping all energy savings, local and state incentive payments and renewable energy credits.
This tax-exempt lease will have an initial term through the end of the municipality’s current fiscal year, followed by one-year renewal terms through the end of the 10th year, and then a $1 purchase option.
A “non-appropriation” provision in the lease allows the municipality to cancel the lease and return the equipment at its expense if funding for the next year’s lease payments are not included in next year’s fiscal budget. However, customers will want to use this type of lease as a de facto method of financing their ownership of long-lived energy equipment.
To help customers conserve cash, funding will be into escrow with lease payments starting at a future date after utility permission to operate. Payments may be set up monthly, quarterly, semi-annually or annually. A 90-day rate lock from the date of credit approval to the date of funding is also available. Payments will be fixed at funding with no escalation over the 10-year period.
To learn more about this special program and/or discuss a potential transaction, call Stan Fishbein at 914-613-8454, ext. 1, or send an email to Stan@CleanViewCapital.com.
CleanView Capital (www.CleanViewCapital.com) is an equipment finance company specializing in making ownership of solar, microgrids, and other clean energy systems affordable and profitable nationwide. Our principals, each with more than thirty years of diversified equipment leasing experience, have held positions of responsibility at major banks and finance companies. Our bank funding partners, each with more than $40 billion of assets, provide our transactions with deep funding capacity.