Fresno CDFI is piloting a line of credit product for contractors who need financing to perform on energy efficiency projects through PG&E. This new loan product will help pay for materials and labor during the six-months that the PG&E customer is waiting to receive loan funds from PG&E. The wait period makes it difficult for emerging contractors to take these types of job because they have to finance the labor and materials and wait up to six months for payment.

The new program will allow contractors to pre-qualify for credit prior to obtaining a PG&E contract up to a given amount depending on their experience and financial capacity. When the contractor obtains a PG&E contract, they will be able to draw on their line of credit. The line is repaid when PG&E sends funds through the on-bill financing program.

More information can be obtained at the June 30 workshop or by calling (559) 263-1351.