Arlington Community FCU Finances Virginia’s First C-PACE Sustainability Loan
Libby Snipe, Marketing
ARLINGTON, VA (July 7, 2021) – Arlington Community Federal Credit Union (ACFCU) announced it financed an innovative sustainability project as part of Arlington County’s Commercial Property Assessed Clean Energy (C-PACE) program. Arlington is the first jurisdiction in Virginia to leverage private sector funding for this type of business sustainability initiative.
With the ACFCU loan, Rocklands Barbecue will install two solar panel systems to lower utility bills and reduce greenhouse gas emissions. Owner John Snedden said, “We are thankful to receive 100% financing from ACFCU for these roof upgrades and appreciate the extensive support they provide the Arlington business community.”
Arlington C-PACE brings together building owners seeking sustainability with private capital providers. Under C-PACE, owners of existing buildings can obtain financing for up to 100 percent of the cost of energy efficiency, renewable energy and water conservation projects for up to 25 years.
ACFCU’s chief lending officer, Jim Wilmot, remarked “We are proud to partner with Arlington County in support of Rocklands’ sustainability efforts. Partnerships like these show the tremendous opportunity for public/private collaboration and environmental stewardship in Arlington.”
ACFCU’s C-PACE funding follows its participation in the Small Business Administration’s Paycheck Protection Program (PPP). ACFCU funded PPP loans to many small businesses and sole proprietorships, including businesses that did not previously bank with the credit union.
As part of their vast support of the Arlington business community, ACFCU recently launched “In Their Words,” a testimonial campaign that highlights their business members and the partnership between the credit union and business owners.
Go to main navigation