Property owners can access assistance to bring down the interest rate from their lender to finance an energy upgrade. The Bay Area Multifamily Capital Advance Program (BAMCAP) provides loan capital at 0% interest to the lender, which means the property owner only pays interest on the loan capital supplied by the lender.
The program’s share of the financing is limited to no more than 50% of the cost of the approved scope of work minus any program incentives. In addition, the share of the financing is up to $5,000 per unit or $500,000 per project, whichever is less.
In order to benefit from BAMCAP, your lender must agree to participate in the program. The program consultants will work with you to develop a qualifying scope. Scopes that qualify for the BAMBE cash rebate or for PG&E's Multifamily Upgrade Program will qualify for this financing offer.
Watch the recording of a recent webinar (external link) to learn more.