PACE Funding Group closed a $55 million warehouse credit facility with SunTrust Bank. Rosemawr Management is also participating in the facility.
The facility will finance PACE Funding’s California and Florida originations and includes the option to increase to $100 million to further support the growing business.
“This partnership with SunTrust and Rosemawr provides dependable and efficient capital to increase PACE Funding’s ability to deliver the highest quality financing to homeowners in California and Florida,” said James Vergara, head of Capital Markets at PACE Funding.
PACE Funding Group provides residential renewable energy and energy efficiency financing, along with Property Assessed Clean Energy (PACE) financing to homeowners to invest in their homes and environment, with a focus on consumer protection and conservatism.
