Navigator Pre-Development Energy Loan


Connecticut Green Bank’s Navigator Pre-Development Energy Loan is a simple, unsecured pre-development loan that funds customized analysis and design of energy improvements for multifamily properties using owner-selected and managed technical service providers.

Program benefits

  • Supports well-designed energy projects that save on utility bills and enhance your building’s attractiveness to tenants
  • Property owners select and manage their own service professional(s)
  • Owners cover 25% of pre-development costs; Connecticut Green Bank loans 75% of costs
  • Multifamily properties (5+ units, income eligible and market rate)
  • Private and non-profit owners, public housing authorities, senior/assisted living communities, condominium/co-op associations, etc.
  • Energy benchmarking, opportunity assessments, audits
  • Green charrettes and physical needs assessments
  • Energy-related health and safety assessments
  • Design, engineering and bidding work
  • Costs to secure energy upgrade project financing
  • Other reasonable expenses needed to get your energy project designed and funded
Pre-development costs Client pays 25%;
Connecticut Green Bank loans 75%
Rate Affordable properties: 1.99%
Market rate properties: 3.99%
Term Due in 24 months or upon
project financing
Loan details No fees, unsecured

1. Apply

  • Complete an application.
  • Provide a project description.
  • Submit a project budget that includes your 25% contribution to pre-development costs.
  • Submit the names and qualifications of the contractors you plan to hire.
  • Provide property financials: current year operating budget, previous two years’ financial statements, previous two years’ tax returns, most recent mortgage statement, and certificate of insurance.
  • Email application, project description, project budget and property financials to [email protected] with the subject “Navigator Loan Application” and the name of your property.

2. Close on loan

  • We will review your proposal and, if approved, provide a loan agreement for your review.
  • Sign your loan agreement.

3. Fund

  • You may submit for loan disbursements on a monthly basis by supplying copies of invoices or other documentation for review and approval. We will advance 75% of approved costs.
  • Alternately, we will advance 100% of the approved costs after proof of owner funding the first 25% of costs.
  • Connecticut Green Bank reserves the right to require proof of payment to contractors.

Once the project is designed, Connecticut Green Bank can either directly finance or help you identify financing options to implement your project. Learn more.

  • Interest:
    • 1.99% for qualified affordable properties (60% or more of the housing units serve residents with income up to 80% of Area Median Income)
    • 3.99% for market-rate properties
  • No closing costs or fees. Loan is unsecured.
  • Loan must be repaid 24 months from closing or upon financing and installation of the energy improvements, whichever is sooner.
  • Loan forgiveness (partial or full) may be requested for projects unable to proceed beyond completed pre-development services.

Owners can request full or partial forgiveness of the loan if there are conditions that prevent financing and/or implementation of all or a portion of upgrades after completing the pre-development services. Loan forgiveness is granted at the sole discretion of Connecticut Green Bank, and at least one of the following conditions must be met:

  • The annual cost of the energy improvements (including incentives and rebates) exceeds the projected energy savings.
  • Assessment or audit shows the energy savings cannot be realized without cost-prohibitive health and safety remediation and/or major property improvements.
  • Owner has sought in good faith, and does not qualify for either Green Bank or commercial multifamily project financing (as evidenced by rejection letters from three (3) different commercial lending institutions for the project.
  • Available loan terms, inclusive of all eligible incentives and rebates, are impossible for owner to meet given property financials.

Contact us today with questions or to discuss your project with a Connecticut Green Bank representative.

Email [email protected] or call (860) 257-2333.