TBL Fund Closes Bridge Loan

TBL Fund’s new Bridge Loan product is designed to help customers take advantage of the various incentives created by the Inflation Reduction Act (IRA) and Bipartisan Infrastructure Law (BIL). After project completion and validation, many of these dollars are only disbursed to customers. Bridge loans provide essential capital upfront, enabling stakeholders to initiate and advance their green projects and repay the loan with the incentives once they’re in hand.

Recently, TBL Fund closed a $556,000 bridge loan for three properties in Albuquerque, New Mexico, enabling them to undertake essential energy efficiency upgrades such as attic insulation, LED lighting, and smart thermostat installations, among others. The loan covered necessary construction expenses until utility rebates and other incentives were made available, effectively managing the cash flow challenges and ensuring the timely completion of projects. See the full case study here.

ICAST has been advocating for the designers and implementers of the new IRA and BIL funding programs—whether electrification, weatherization, PV solar, etc.—to leverage bridge financing to execute their programs. Federal funding can only achieve its purpose if it actually reaches communities, and the Albuquerque projects should serve as an example of what’s possible when the right partners and resources are brought to the table. To learn more about ICAST’s advocacy work and its strategic collaboration with TBL Fund, follow this link.