The Benefits of Jumbo Lines of Credit for Clean Energy Projects
Clean energy projects require funding at every step, to pay employees, get the right equipment, source materials, and implement innovative technology. Banks do not have loans large enough to sustain clean energy projects. Fortunately, Evolt Capital provides jumbo revolving lines of credit to see any clean energy project to completion.
Jumbo Lines of Credit Are Not Loans
Loans are single-use and single-purpose products. Funding is given in one lump sum, and once it is used, a borrower needs to apply for another, resulting in more debt and further impacting credit ratings. Add to this that clean energy projects require more financing than any single bank is willing to provide, and borrowers can end up taking on more debt than they can handle before a project even starts.Jumbo lines of credit for clean energy projects provide a single source of funding that starts at $100 million. Financing can be drawn upon as needed to cover expenses at every stage of the project.
A Renewable Source of Funding
As mentioned above, once a loan is used, the only way to get additional funding is to apply for yet another loan. Jumbo lines of credit from Evolt Capital are revolving, so as a project repays part or all of the balance, the amount that can be drawn is replenished, essentially providing financing for the entire lifecycle of a clean energy project.
Higher Funding Limits
Evolt Capital’s jumbo lines of credit for clean energy projects start at $100 million, which exceeds the limits on bank loans. Based on the size and scope of your clean energy project, our jumbo lines of credit can be scaled up to cover your needs. Additionally, the funding that jumbo lines of credit provide allows institutional and private investors involved in the project to free up capital that can be better used elsewhere.
Get a Jumbo Line of Credit for Your Clean Energy Projects
If you need robust, flexible, and reusable financing for your large clean energy projects, contact the team at Evolt Capital today.