Renovate America, a provider of home-improvement financing, closed a $200 million credit facility with Barclays to support the continued expansion of the HERO Program, the nation’s largest form of Property Assessed Clean Energy (PACE) financing.
The credit facility further bolsters Renovate America’s position with enhanced liquidity and will further diversify the company’s funding profile.
For more than five years, HERO financing has been used to make energy and efficiency improvements across more than 100,000 homes in California and Missouri. HERO empowers homeowners to replace their windows and doors, upgrade their HVAC, go solar and pay for the improvements over time at a fixed interest rate via an additional, voluntary line item on their property taxes.
Renovate America offers a tech-enabled financing platform for home improvement and commercial retrofits that empowers communities to modernize and make housing stock more efficient, while giving small businesses the tools they need to grow.