Tom Barry, 781.928.1100 ext. 106
To promote the environmental cleanup and redevelopment of environmentally impaired properties throughout New England, BDC Capital has developed a unique program that provides flexible financing to fund environmental remediation projects and related pre-development activities.
A Remediation Loan from BDC Capital can be just the element needed to advance development projects on environmentally impaired properties to the stage where conventional sources of financing can be more readily accessed. In cases where continuing environmental risk factors keep conventional funding sources at bay, even after completion of a cleanup, BDC Capital can provide funding through completion of construction activities and even beyond.
Program features…
- Remediation Loans from BDC Capital range from $500,000 to $2,000,000. BDC Capital can also access additional funding sources to provide full financing for even the largest projects.
- In addition to cleanup costs, BDC Capital Remediation Loans can also be used to fund regulatory compliance and other pre-development costs and expenses including construction.
- Once remediation activities on a site are complete, Remediation Loans can be rolled-in to a construction loan or permanent mortgage financing, either from BDC Capital or another source.
- Flexible terms are custom-designed to meet the unique requirements of each individual project.
- Where needed, "Interest Reserves" can often be built-in to the loan to eliminate out-of-pocket loan servicing costs during the term of a project.
- Available to support both commercial/ industrial development and residential development projects.
- Traditional real estate advance rates (50% on raw land; 75% on improved property) typically apply.
- Advances against other assets can be used to supplement real estate advances.
Where to start…
To apply for a Remediation Loan from BDC Capital, applicants must have completed environmental "due-diligence" on the property and have an approved Remedial Action Plan with full remediation cost estimates prepared by a qualified environmental engineering professional.
If environmental issues with a property have left you wondering where to turn for financing to complete a remediation project, or to develop an environmentally impaired property, BDC Capital can often provide the solution.
BDC CAPITAL REMEDIATION LOANS
financing for…
- Environmental Cleanup
- Regulatory Compliance
- Site Preparation / Entitlement
- Demolition / Construction
- Permanent Mortgage Financing
"Soft Costs"
To discuss your specific project, or to see if a BDC Capital Remediation Loan may be the right interim financing solution for your project, give us a call.
Our experienced lenders will work with you to develop a financing strategy that gets you beyond the environmental issues and meets your project’s longer-term financing needs.
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