Solar Energy Loans
Flexible Lending Options
for Solar Energy Projects
Renewable energy has the power to decrease dependency on foreign oil and reduce the world’s carbon footprint by tapping into a resource unhindered by production snafus or political peril: the sun. But harnessing the power of the sun is no smaller matter. The investment required to begin solar energy generation is the #1 hurdle for many. Moreover, the amount of land required to establish solar resources of scale is sizable, dictating that its location is often rural.
Fortunately, a solar project’s rural location unlocks a special financing opportunity from the USDA. The government agency more commonly known for its service to agriculture also backs a government-guaranteed lending program specifically for rural energy projects – no agricultural component required. The USDA-backed loans, which range from $2 million to $25 million, are facilitated with the help of trusted lenders like North Avenue Capital.
LOAN DETAILS
- Finance up to 80% of Eligible Project Costs
- $2 Million - $25 Million Loan Amounts
- USDA REAP Loans
Winery & Vineyard Loans through the USDA Business & Industry Loan Program
Eligible Loan Types for Wineries & Vineyards
Acquisition
Business Conversion
Expansion
Ground Up Construction
Machinery & Equipment
Real Estate Purchase
Refinance
Startup
USDA SBA Combination
Working Capital
The Soaring Efficiency of the Sun
According to historians, the power of the sun was first transformed into electricity in 1893. As you might expect, the early prototype’s efficiency left much to be desired. By the mid-1950’s, the allure of solar picked up steam. 1995’s attempts at harnessing the sun were 2% efficient and created power at the steep cost of $1785 per watt. By 1960, efficiency had multiplied seven-fold. Today, constructing a solar energy system costs roughly $2.75 per watt, making renewable energy more efficient and cost-effective than ever before. And for those who qualify for competitive financing from the USDA, getting started has never been easier.
Lending Solutions for Solar Energy Projects
Why Choose North Avenue Capital?
Availability of Capital
As a rural business, you could qualify for up to $25 million in funding per project – substantially more than is available through traditional lenders.
Interest-Only Options
Startup-Friendly
NAC partners with businesses of all varieties, including well-established corporations, startup enterprises, and everything in between.
Simplified Structure
NAC can consolidate multiple types of debt into a single, amortized, non-callable, balloon-payment-free loan structure.