Eutectics™ Finance is a streamlined financing platform to fund energy efficiency and renewable energy improvements to buildings across the United States.
Eutectics™ Finance features a simple financing application with quick turnaround and committed capital in hand. Our goal is to finance at least $70 million in efficiency and solar projects in our first round, with additional capital immediately available as qualified project funding requests are submitted.
Eutectics™ Finance is structured to provide easy access to 100% financing for the medium-sized and smaller projects that have been previously difficult to finance. Projects seeking less than $150,000 in financing require only a one-page credit application, with financing determination expected within 24 hours. For larger projects, basic financial information is needed from applicants, with a typical 48-hour financing determination.
As proof of concept, Eutectics™ has already facilitated more than $32.4 million in energy efficiency, water saving and renewable energy projects across the country, with 38 contractors and trade allies enrolled as Eutectics™ partners.
Contractors can access the Eutectics™ Finance platform through our easy-to-use quote request, which asks for the same information they already provide on a ‘bid sheet’ to project owners. Eutectics™ Finance then provides a quote to the contractor and the business, with funding following credit approval. Eutectics™ Finance is fully capitalized with internal credit authority. No outside approval or capital is required for projects up to $5,000,000.
“Working with Eutectics™ was no different than working on any other project – except that this time, owners got to ‘Yes’ and the project got funded,” said EnergyMisers’ President Bill Bieganek.
“Thanks to Eutectics™, we were able to develop a financing plan that allowed The Home Company / CoCo Building to move forward on major upgrades to our heating and cooling systems,” said Jeff Heegaard, principal at The Home Company building in St. Paul, MN. “These upgrades will allow us to reduce our long-term energy costs, lower our carbon footprint and move forward on our goal of creating a cleaner, greener future.”