A credit enhancement option is available to incentivize private investment into local financing programs for home-energy upgrades. This involves a municipality working in partnership with a third-party lender (e.g., financial institution, impact investor, or utility company) who provides or arranges capital to finance home-energy upgrades.
Amount: Funding for up to 80 percent of eligible costs • Up to a maximum of $2 million in a credit enhancement pledged by GMF to support third-party financing • Applicants must demonstrate a minimum leverage ratio of 5:1 (third-party capital to credit enhancement) • Grant of up to $5 million (not to exceed total start-up and operating costs)
Find out more: https://fcm.ca/en/funding/gmf/capital-program-loan-credit-enhancement-local-home-energy-upgrade-financing-program