The C-PACE application and approval process typically takes around 60 to 120 days to complete. This timeline includes the initial underwriting, project approval by the C-PACE program administrator, securing lender consent if necessary, and finalizing the closing and funding process. The approval process involves several steps, including determining eligibility, completing a pre-application, developing the project scope, and submitting a final application with supporting documentation.
Here’s a general overview of the process:
- Pre-Application: Determine project eligibility.
- Project Development: Work with contractors to finalize project details.
- Final Application: Submit the complete application with necessary documentation.
- Approval: Obtain approval from the C-PACE program administrator.
- Closing and Funding: Secure financing and set up payment terms.
Overall, while the process can be complex and involve multiple stakeholders, the average duration is typically between two to four months.
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