Pollocksville Solar

USDA REAP Loan Purchase

 
 

Loan Details:

  • 1st Mortgage:
  • $5,000,000
  • Term: 25 years
  • Prepayment Penalty: 10,9,8,7,6,5,4,3,2,1
  • Rate: 10 Year Fixed, Resetting Every 5 Years

Pollocksville Solar was developed by a large scale solar system developer to generate 7 MW DC on 35 acres in Pollocksville, NC. North Carolina is a suitable location for solar arrays due to solar radiation characteristics. The developer has a history of successful projects since 2006. Technology has been implemented globally on a massive scale over 40 years.

Pollocksville Solar entered into an Offtake/Power Purchase Agreement with Duke Energy, a regulated electric utility in North Carolina, to purchase the electricity generated by the solar array for 15 years. Duke Energy is the largest utility in the U.S. with a strong A2 long term issuer rating from Moody’s with a stable outlook.

Background:

Whether you want to sell the unguaranteed portion of your loan to increase ROI, reduce concentration to one borrower or minimize risk-based capital implications of balance sheeting, you have a secondary market partner in Thomas USAF. We can do more than just purchase the guaranteed portion of your loan at the highest price. Call Thomas USAF to find out if your loan qualifies for our latest program that includes purchase of the unguaranteed portion as well. You may have an opportunity to restructure the loan to increase your prospects of selling the unguaranteed portion. Why sell only 80% when you can sell up to 95% of a USDA loan? Get the USAF advantage!