Mortgage Providers
The Philadelphia C-PACE Program provides affordable, long-term financing. Before borrowers can install qualifying energy and water savings, indoor air quality, or resiliency projects, the property owner must obtain consent from all mortgage and lien holders.
Mortgage and lien holder notification and consent are required per the Pennsylvania C-PACE statute and Philadelphia C-PACE ordinance.
Consenting to C-PACE
400+
U.S. financial institutions
30+
Pennsylvania institutions
Program Benefits
Non-Accelerating Assessments
In event of default, only outstanding payment is in front of senior position – and cannot be accelerated. Future payments are the next owner’s responsibility.
Maintain Foreclosure Rights
C-PACE does not require an intercreditor agreement, and senior mortgage lenders retain the right to foreclose as if it were the sole financing on the property.
Mitigate Perceived Risks
C-PACE enables senior lenders to escrow payments monthly, voluntarily enter into intercreditor contingency agreements, or make protective advances.
Increase Collateral Value
By reducing operating costs, C-PACE projects increase cash available for debt service. Lower costs result in higher net operating income, increasing value.
Own and Occupy
Interest rates are substantially lower than mezzanine debt and preferred equity, enabling longer repayment terms, increasing the debt service coverage ratio.
Non-Recourse Loan
The assessment is underwritten to a property’s value, not the building owner’s credit. Guarantees are typically not required from the property owner.
Capitalized and/or Interest Only
Interest can be capitalized for up to 5 years, depending on the project, pushing the first payment beyond project completion or stabilization.
How It Works
Property Owner Notification
The property owner must notify all mortgage and lien holders of its intent to execute C-PACE financing.
Clean Energy Solutions
Property owners must receive consent from all mortgage and lien holders prior to project approval.Frequently Asked Questions
Why should your Financial Institution consent to the C-PACE Special Assessment?
Energy projects financed through C-PACE generally reduce building operating costs and therefore increase a property’s collateral value. Under the Philadelphia C-PACE eligibility requirements, a proposed project must include a scope of work, an energy baseline or water usage baseline, and the projected energy savings or water usage reductions. A third party Qualified Engineering Professional will confirm the energy savings assumptions prior to closing the financing. Lower operating costs typically raise a property’s value, improving its collateral value for your Financial Institution’s mortgage.
C-PACE payments do not accelerate. In the event a mortgage holder or lienholder forecloses on the property for any reason, only the C-PACE payments currently due and in arrears would be payable, which is likely a relatively small proportion of the total amount financed. In the event of a property sale, the remaining C-PACE Financing runs with the land and would be paid by the new property owner as property taxes are due.
Projects financed through C-PACE often reduce maintenance and repair costs, and improve a building’s health and comfort, making it more attractive to tenants and future owners.
Which other financial institutions have already consented to C-PACE financings?
In Pennsylvania as of December 2025, 29 lending institutions have consented to C-PACE. Those which have consented more than once have “*” following their name:
100 Mile REIT, Inc
Access Point Financial LLC (APF)
Andrews Federal Credit Union
Barings
Berkshire Bank
Builders Capital
Central National Bank
Citizens Bank
Dollar Bank
Forbright Bank*
Fulton Bank*
Hyperion Bank
Kish Bank
Lincoln Financial
M&T
MCB Bank
Meridian Bank
OceanFirst Bank NA
PCCP Credit
PIDC*
PNC Bank
Sandy Spring Bank
Somerset Trust Company
Torchlight Investors LLC
TriState Capital Bank*
Valley National Bank*
Washington Capital Management
Wells Fargo
WSFS Bank*
Over 300 financial institutions nationwide have already consented to C-PACE financings. Please see the Lender Consent Guide on the Program Resources page for more information.
Is there a form of Mortgage Holder consent?
Please see Appendix J of the Program Guidelines.