In this article, Isaac Stern and Gage Kellogg explore the complexities of solar construction projects. The authors discuss the rising interest in renewable energy projects and the challenges faced in the current economic climate. They emphasize the role of Project Completion Insurance (PCI) as a powerful tool, providing financial protection for lenders and borrowers. PCI, underwritten by Lloyd’s of London, covers cost overruns in case of borrower default, streamlining processes for lenders and enhancing credit for borrowers. The article highlights PCI’s advantages over traditional surety bonds and other credit enhancement options, making it a game-changer in the renewable energy and storage construction sector.
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October 31, 2023
By Katie L. Morgan, PWS, EP | Published on Oct. 30, 2023 in Utilities Tech Outlook Taking a scientific and engineering approach in your due diligence process will ensure your solar development projects not only generate clean energy but also safeguard our planet. Katie Morgan, PWS, Director of Natural and Cultural Resources, shares best practices […]
November 08, 2023
SBA’s SOP 50 10 7.1: Reinstating Construction Loan Provisions and Key Updates In a welcomed update, the Small Business Administration (SBA) released their new Standard Operating Procedure (SOP) 50 10 7.1 on October 24, 2023, which becomes effective November 15, 2023. This SOP reintroduces the Construction Loan Provisions for 7(a) loans, which were notably absent […]
November 08, 2023
Partner provides this SBA 7(a) Construction Loan Checklist for SBA Loan properties, following the guidelines of SBA’s SOP 50 10 7.1, effective on November 15, 2023. [ Download Here ]
