CapQuest Group

Based in Yonkers, NY, CapQuest Group, LLC, is a network of banks and finance companies dedicated to providing businesses, municipalities, non-profits, and building owners with creative financing to acquire equipment, renovate buildings and undertake capital improvement projects. An area in which we are very active is helping our clients in New York... State reign in soaring energy costs by providing them with low interest rate loans to acquire energy-saving equipment and undertake energy efficiency measures. We arrange and process cash rebates for these projects as well as provide subsidized loans by utilizing various incentive programs such as those sponsored by the New York State Energy Research and Development Authority (NYSERDA). The energy savings are prospective. We finance the upfront costs, making the implementation of these projects affordable! CapQuest Group, LLC is an EPA Energy Star Partner. Energy equipment loans are provided by our network banks which have been pre-approved by NYSERDA. The borrower is matched with a bank based upon, among other requirements, the bank's credit parameters, dollar limitations and customer location. The NYSERDA program provides a subsidy by buying down the loan's interest rate, similar to paying points to buy down the interest rate on a mortgage. However, it is NYSERDA rather than the borrower paying points to the bank. NYSERDA's program will buy down the interest rate by 400 basis points (4%) for most utility customers and 650 basis points (6.5%) for ConEd customers on loans up to $1 million per borrower for commercial borrowers (also non-profits such as schools) plus an additional $500,000 for eligible green building improvements. For existing multifamily buildings, the limitation is $5,000 per residential unit up to $2.5 million plus an additional $2.5 million for advanced metering. This discussion of the NYSERDA loan program is limited due to space and we do not make residential loans. Equipment loans are typically for 5 years, but maybe longer depending upon the ...Read More