Capital Providers interested in participating in the Efficiency Maine C-PACE Program must register with the Efficiency Maine Green Bank. The Efficiency Maine Green Bank will approve Capital Providers that demonstrate their capacity and intention to:
- Capitalize Qualifying Projects;
- Perform the underwriting, origination, and loan servicing requirements of the Program;
- Manage a Qualifying Project to the point of fulfilling the necessary requirements of a project; and,
- Comply with the regulations, procedures, and Program Guidelines of Efficiency Maine’s C-PACE Program.
A Registered Capital Provider under the C-PACE Program must have the ability to fund and service C-PACE Loans, including performing all accounting, reporting, billing and collection required for C-PACE Assessments.
Registered Capital Providers may include any:
Track 1 Eligible Capital Providers:
- State, federal, or national bank, credit union, or savings and loan association authorized to make commercial loans in the State of Maine; or,
- Small Business Administration (SBA) small business investment company; or,
- Community Development Financial Institution (CDFI) that meets the definition of Authorized Commercial Lender in Article III Section 6 of the Program Guidelines.
Track 2 Eligible Capital Providers:
- Other Authorized Commercial Lenders as defined in Article III Section 6 of the Program Guidelines.
Capital Provider registration is divided into the noted application tracks depending on Capital Provider type.
Track 1 – Track 1 Eligible Capital Providers in the list above are considered categorically capable and must provide basic documentation confirming their identity and evidence of a current charter or license as a state or federal financial institution.
Track 2 – Track 2 Eligible Capital Providers in the list above must provide:
- Documentation confirming their identity; and,
- a good standing certificate in their jurisdiction or organization (If a trust, a certificate of trust); and,
- if a foreign entity, evidence of authority to do business in Maine; and,
- proof of participation in at least two other C-PACE programs from the list below. Participation means registration within a program and having successfully financed a project within that C-PACE Program.
Track 2 C-PACE Program List:
- Energy Improvement Corporation (EIC) New York (NY) PACE
- Texas PACE Authority
- Connecticut (CT) Green Bank C-PACE
- Massachusetts Commercial PACE
The Efficiency Maine Green Bank may require additional information and documentation, including an opinion of counsel confirming that the applicant meets the definition of an Eligible Capital Provider.
Capital Providers that wish to register for Efficiency Maine’s C-PACE Program, must complete the following form: