PACE Funding Group Closes First Issuance of PACE Bonds
Los Gatos, August 25 — PACE Funding Group, a full service PACE program administrator in California, offering the lowest private sector residential PACE interest rates and the most stringent consumer protections of any PACE lender, announced today the closing of its first issuance of PACE bond issue in partnership with California Statewide Communities Development Authority, Deutsche Bank National Trust Company, Stradling Yocca Carlson & Rauth, P.C. and David Taussig & Associates.
“This transaction is the first of a weekly bond issuance process that allows us to substantially increase originations throughout the state. It is an important milestone, reflecting our success in attracting strong interest from the capital markets and toward enabling property owners across the State of California to save money while reducing energy use,” commented Mr. Robert Giles, CEO of PACE Funding Group.
With no money down and 100 percent financing for eligible projects in over 50 categories with payment terms for up to 25 years, PACEfunding is designed to make home energy and water efficiency projects affordable. Homeowners make payments along with their property taxes, and in the event the property is sold, the remaining balance may be able to transfer to the new owner.
About PACE Funding Group LLC: Based in Los Gatos, California, PACE Funding Group is an approved full service PACE program manager in California. PACE Funding Group brings strong software technology, renewable financing and capital markets experience to the residential PACE sector, resulting in the lowest private sector residential PACE interest rates. PACE Funding’s financing solutions are available for a variety of pre-approved improvements to homes and buildings, including but not limited to solar power, solar thermal and energy efficiency improvements related primarily to HVAC, roofing, windows/doors and water conservation upgrades. For more information visit www.pacefunding.com.