Greener Than Thou is our report on San Francisco’s obsession with all things green, giving credit where credit is due and calling bullshit when the need arises. Feeling morally superior on the green front? Testify!
How to rope in borrowers in a not-so-spectacular economic climate? Lay on the green guilt trip and appeal to the new moral imperative in home building— that's how. On the flip side, those in need of more fundage might sharpen up their LEED jargon and add a solar panel or two to their building plans. New "green" lending programs "offer borrowers the opportunity to seek funding from loan officers who understand both the challenges and financial benefits attainable through environmentally responsible design." Local community banks (see San Francisco's New Resource Bank) tend to offer more cash flow and cut a better deal on interest rates, while larger banks tend to treat green projects just as they would any other (making the loan "green" how, exactly?) Applicants, cue your pitch.
· Banks Cultivate “Green” Loans [Commercial RE Wealth]