Daily News: October 15, 2014

OneRoof Raises $2MM in New Resource Bank Debt Financing

OneRoof Energy announced New Resource Bank will provide approximately $2 million in debt financing to lower its cost of funds on a pool of existing projects, freeing up additional working capital for the company. This new lending collaboration between the two companies marks an extension of New Resource Bank’s lending portfolio from commercial into residential solar.

New Resource Bank’s mission to advance sustainability through its investments aligns with our commitment to bring more solar solutions to homeowners, commented David Field, president and CEO for OneRoof Energy. Today’s financing helps us lower the overall cost of funds, and in turn, provides more accessible, affordable solar solutions to our customers.

“We’re excited to work with OneRoof Energy as a partner in building our residential solar portfolio,” said Rob Holden, SVP, commercial banking group manager, New Resource Bank. “While we’re no stranger to commercial-scale solar, the OneRoof Energy team has made our first residential transaction a smooth addition to our portfolio, and we look forward to working with them on future transactions.”

OneRoof Energy Group is a complete solar services provider.