RENVU Finance Solutions - Bridge Loan
RENVU has partnered with Wunder Capital to provide our customers project bridge loans.At the end of this page you will find a short application form. Please complete that form and a Wunder Capital representative will contact you shortly after.
Your company and project financials will determine your initial loan offering, but an ongoing successful partnership will quickly increase your available credit with Wunder.
Rates: 10-15% APR
Your initial interest rate will be calculated using information about your company and project. An established payment history with Wunder will reduce your rate for each subsequent project.
Terms: 3-12 Months
Loan terms are flexible according to the need and estimated schedule of the project. Throughout the term, only monthly interest payments are due.
Collateral: The Project
Wunder does not require any personal guarantees. We secure our loans with a lien against the specific project for which funds are being requested.
The following is a brief overview of Wunder’s Bridge Loan product, general borrower and project eligibility requirements, and a summary of the application process. Wunder reserves the right to decline any Partner or Bridge Loan application.
The Bridge Loan is a short-term non-recourse loan, secured with the solar project (not all-assets liens or personal guarantees), used for solar procurement and development activities.
❏ Loans of $20 - 250K.
❏ Terms of 90 - 365 days with loan extensions available as needed.
❏ Competitive construction financing rates of 10 - 15% per year (APR).
❏ Applicant is qualified to do business in the state(s) their project(s) will be located.
❏ Applicant is an established US-based limited liability company or corporation.
❏ Applicant has verifiable commercial solar PV engineering, procurement, and construction experience.
❏ Applicant has strong company financials, active trade credit lines, and no significant credit issues.
❏ At least 70% of loan proceeds will be used for grid-tied commercial solar PV equipment procurement (panels, inverters, BOS components, etc.).
❏ Project is under contract with permits approved prior to loan disbursement.
❏ Project has a legally-binding commitment for the source(s) of capital from which the Bridge Loan principal will be paid back.
❏ Project is located in the US (US territories excluded).
❏ Estimated project payback period does not exceed 10 years (including benefits from incentives, rebates and tax credits).
❏ Complete Partner and Bridge Loan applications.
- An applicant must complete the Partner application before a Bridge Loan application is reviewed. Both applications can be submitted simultaneously. Once a Partner is approved, they need only submit Bridge Loan applications for future financing requests.
- Both the Partner and Bridge Loan applications are available online at wundercapital.com/financing and may be available through your RENVU representative as well.
- Anyone (a RENVU account rep, project EPC, or even a customer) can complete an application. However, there are some pieces of information, e.g., bank account information that will require communication directly with the borrower before final loan approval and contracting.
- Wunder will begin application review even if all data is not currently available. We will follow-up with additional data needs as applicable.
- Wunder will establish an appropriate communication protocol with the RENVU account representative before contacting other project actors.
❏ Wunder’s team will analyze the information using our proprietary software, approve a Partner and provide flexible financing options either in the form of an executable Bridge Loan contract or, if the expected loan disbursement date is further than one month from the Bridge Loan application date, a letter-of-intent.
❏ Wunder will confirm that we have all necessary information (e.g., final equipment invoices) and that no project changes have occurred since the original application.
❏ Wunder will disburse the loan proceeds directly to RENVU on behalf of the borrower, providing all parties with a record of the transaction.
❏ The borrower will make monthly interest payments throughout the loan term, repaying principal on the contracted loan maturity date. Most contracts also contain an optional extension term, allowing borrower to push out the loan maturity date for an agreed upon term. The loan extension term bears the same rates and fees as the loan term originally contracted.
Please complete the following form and a Wunder Capital representative will contact you shortly after: