Crestmark’s Joint Ventures division and the Government Guaranteed Lending division secured a combined total of $73.28 million in financial solutions for six solar energy clients in the second half of December.

The Joint Ventures division:

• $4.12 million 120-month operating lease transaction with a solar developer in Massachusetts to install a 2,244 kilowatt-direct current solar farm in Vermont, which has a local utility as the offtaker.
• $1.3 million solar construction term loan facility to a solar developer in Vermont. Once the construction of the 745 KW DC solar farm is completed, the term loan facility will be refinanced by a $2.6 million 120-month operating lease and will have local municipality as the offtaker.
• $6.17 million 180-month operating lease transaction with a solar developer in Connecticut to install a 2,810 KW DC solar farm in Vermont, which has a local utility as the offtaker.

The Government Guaranteed Lending division:

• $20 million pre-notice to proceed line of credit facility was provided to a renewable energy developer in North Carolina for solar development capital needs
• $20.8 million solar construction term loan facility to a solar energy provider in Oregon. Once the construction of the 15.24 MW DC, 116.3 acre utility-scale solar farm is completed, the term loan facility will be refinanced by a $10 million USDA Rural Energy for America Program (REAP) permanent debt loan facility and a $1.9 million USDA Business & Industry (B & I) permanent debt loan facility for a 25-year term and will have a utility company as the offtaker.
• $20.8 million solar construction term loan facility to a solar energy provider in Oregon. Once the construction of the 15.24 MW DC, 60.8 acre utility-scale solar farm is completed, the term loan facility will be refinanced by a $10 million USDA REAP permanent debt loan facility and a $1.9 million USDA B & I permanent debt loan facility for a 25-year term and will have a utility company as the offtaker.