M-Core Credit along with Hudson Valley Bank has become one of the largest and longest tenured providers of NYSERDA loans for the past 12 plus years.
We are the largest lender under the current NYSERDA loan program, Green Jobs Green NY for multi-family buildings.
Michael Weisberg of M-Core Credit is a member of the NYSERDA advisory panel to the Green Jobs Green NY loan program.
NYSERDA offers building developers, owners, and managers a unique opportunity to obtain low-interest financing on energy-saving building and renovation projects through private commercial lenders. This funding is available through Green Jobs – Green New York, a statewide initiative dedicated to strengthening our communities through energy efficiency.
Here”s how it works:
NYSERDA provides lenders up to 50 percent of the principal borrowed, to a maximum of $5,000 per unit or $500,000 per energy-saving project, at a 0% interest rate.
Example: A borrower who requests $50,000 to fund an approved project will pay interest on only $25,000; the remaining $25,000 is interest-free.
This innovative arrangement benefits both borrowers, who thus enjoy interest rates at about half the market rate for loans up to $1 million, and lenders, who can open new relationships at reduced risk.