Multifamily Oil-to-Gas Conversion Case Study
Connecticut Green Bank
This loan served as the pilot for what would become the Low-Income Multifamily Energy (LIME) loan, offered by Capital for Change (C4C) in conjunction with Connecticut Green Bank. This product is an unsecured loan, which uses projected energy and maintenance savings as the payback mechanism for debt service on the C4C financing, with a minimum DSCR of 1.30X.
For this project, a debt and equity investment of less than $400,000 for an oil-to-gas conversion resulted in first-year positive cash flows of more than $45,000 net of debt payments and a subsequent realized profit at the time of sale of over $1 million.
