Illinois school solar, financed in one month.
Traditional lenders quoted three to six months. Projective closed in one. The loan financed 100% of construction, so the developer kept full ownership and the full return, with no equity check and no partner, on a project that had to be online by year-end.
The opportunity
Chicago based Econergy is the largest renewable developer for school districts in the state of Illinois. It has helped more than 2,500 schools and businesses cut their energy bills by pooling them into buying coalitions, and since 2018 it has run the Future Green Energy Consortium for Illinois school administrators, school boards and business officials.
One upload, one review, one facility.
Econergy uploaded its project documents to Projective. We reviewed the credit, EPC terms, module sourcing and takeout at the commercial operating date (COD), then structured a construction facility funded from Projective’s lending pool. Capital was committed in four weeks. The builders never stopped building.
Model, PPAs, EPC and supply contracts, interconnection, tax structure. One upload, one data room, every deal in your pipeline in the same place.
Projective’s agents read every document against our underwriting standards: offtaker credit, EPC price certainty, module sourcing and FEOC exposure, takeout path at the commercial operating date (COD). Our credit team confirms the output, completes KYB, and issues terms on deals that clear.
Twelve-month senior construction facility, first lien, drawn against independent engineer certification. Multiple sites from the same builder close as a single vehicle on a single ledger: one set of documents, one set of fees.
Capital comes from Projective’s lending pool. Each draw is recorded as it happens, so lenders see every dollar and every milestone in real time, not in a quarterly report.
At commercial operation the facility is repaid through tax credit transfer and term debt. The builder moves to the next project; the pool recycles into the next site.
“Projective allowed us to move quicker while staying fully compliant with state and county regulations to get projects shovel ready.”
The results
Schools across Illinois are generating their own power, and the savings stay in classrooms instead of utility bills.
One upload, one review, one facility. No bank committee, no six month close, no builder left waiting on a decision.
America has the projects and the people to build them. Projective makes sure the capital shows up on time.