Nonprofit, Small Business & Multi-Family Rentals

Nonprofit, Small Business & Multi-Family Rentals

Solar PV Financing for Non-Profits (via Investors), Small Businesses, and Apartment Building Owners

GEMS offers the following two commercial loan products.  Please click on the links below to access the Product Sheets:

The design of these loan structures included three objectives:  (1) to collaborate and partner with commercial banks and other financial institutions; (2) to be more flexible and competitive; and (3) to fill a market gap with an unconventional financing tool.

The result is a co-lending structure with a capital stack of private and public debt.  This long-term financing tool is designed to complement conventional bank / credit union financing and provide low-cost, cash flow friendly capital to encourage clean energy adoption via the installation of solar photovoltaic systems.

The Product Sheets above are self-explanatory and essentially identical.  The key difference is the Project Sponsor product is for loans made to investors who purchase and own PV systems for nonprofits and businesses that do not have a tax appetite and cannot leverage the solar energy tax credits.  The energy produced by the PV is sold to the off taker via a long-term power purchase agreement.

The Direct product is for loans made to small businesses and for-profit apartment building owners to install and own its PV system.

Features and Benefits:

  • Lower than Market Fixed Rates as low as 4.50%*
  • Longer Repayment Terms for up to 20 Years
  • Up to 100% Financing
  • Flexible Repayment Schedules
  • No Prepayment Penalty
  • GEMS Able to Partner with any Lender
  • Project Must be Located within HECO company Territories (Oahu, Maui, Island of Hawaii)

*On Approved Credit. The actual interest rate will be charged based on the borrower’s creditworthiness

To apply for a GEMS Commercial PV Loan, download and complete the appropriate loan application packet and submit along with the items requested on the Application Checklist to the Hawaii Green Infrastructure Authority.

Commercial PV Loan Product:  DIRECT Application Packet

Commercial PV Loan Product: PROJECT SPONSOR Application Packet

For more information, call 808-587-3868 or complete and submit the information below:


Nonprofit & Small Business: Complete this form to learn more about GEMS