Making structural and energy efficiency changes to your commercial property can provide you with a wide range of financial benefits. While it is true that the US government has now made it compulsory for commercial building owners to reduce the carbon footprint of their properties, property owners often make critical changes to their building structure keeping in mind the other benefits that they can reap from that. If you are seeking financial assistance to improve the structure and functioning of your commercial property, you should get in touch with one of the best PACE financial advisors in New Hampshire.       

Why Use Commercial PACE Loans for Building Upgrades

As you go on looking for financial assistance to manage your property upgrading requirements, you will find that there are multiple loan options that you can choose from. However, not every type of loan is suitable for making crucial energy upgrades to commercial buildings. The unique structure of a PACE loan can provide you with the flexibility you need when you have to manage the high costs associated with such upgrades.

There are several ways in which commercial PACE loans differ from conventional real estate loans. Let's look at some of those factors here.

  • When you take a commercial PACE loan, you will need to make payments for it through the assessments on the property taxes. This is very different from standard loans where you need to make monthly payments to the lender.  
  • This type of loan offers a more extensive tenure for borrowers to pay back their loans. You can take anywhere between 20 to 30 years to make the full repayment. This is why this type of loan is ideal for commercial property owners when they are looking to make complex structural changes to a building to make it more energy efficient.
  • The CPACE loan is a type of non-recourse loan with a fixed rate of interest. The rate of interest is also low for this type of loan. The interest rate for a typical CPACE loan is lower than most mezzanine loans.

Using CPACE loans for managing your Building Improvements   

Once you have decided that you are going to get financing solutions for carrying out improvements in your commercial property, you should consult with a lender who can provide you with the same. The loan amount for a CPACE loan can vary between $500,000 and $500,000,000, but the exact amount you are going to get will depend on the precise changes that you need to make.

After the initial consultation with the lender, a professional expert will come and perform a thorough survey of your property. This will help him to decide on the necessary changes to make it safer and more energy efficient. Based on the report made from this survey, the lender is going to decide the amount of money that you can receive in the form of the CPACE loan. If you have any specific changes that you want to make to your property, you can discuss that at this stage and the loan amount can be adjusted accordingly.

The best thing about the CPACE loan is that you do not have to make any down payments to receive this loan. This means that you can immediately start with the building upgrades once you get the loan. You also do not have to burn holes in your pockets while you do that.

Conclusion

Obtaining a CPACE loan is the best possible way for you to make complex changes to your building to make it resilient and energy efficient. To learn more about the process of getting a CPACE loan, make sure that you get in touch with C-PACE.com for the best expertise in this matter.