Amalgamated Bank Commits $250 Million to FASTPACE Platform to Accelerate C-PACE Lending Nationwide
Amalgamated Bank today announced a capital commitment of up to $250 million to fund commercial real estate projects originated through FASTPACE.com, Allectrify’s tech-enabled C-PACE lending platform that connects property owners and developers to a growing network of more than 40 capital providers nationwide. The commitment dramatically expands access to long-term, flexible C-PACE financing for commercial real estate projects across the country—particularly in the underserved middle market involving projects ranging from $250,000 to $10 million.
Amalgamated Bank Announces $25 Million Commitment to Redball Energy, Advancing Rooftop Solar for Underserved Communities
Amalgamated Bank, a subsidiary of Amalgamated Financial Corp. (Nasdaq: AMAL), today announced a $25 million corporate financing commitment to Redball EnergyCo, LLC, one of the leading developers, owners, and operators of residential and commercial solar assets headquartered in the Washington, D.C. area.
Amalgamated Bank Helps Launch Net Zero Banking Alliance
Amalgamated Bank today announced that it is a founding member of the Net Zero Banking Alliance, part of the Glasgow Finance Alliance for Net Zero. Amalgamated played a key role in the formation of the Alliance. The Net Zero Banking Alliance will be introduced in conjunction with the Biden Administration’s Climate Summit and is designed to utilize the power of the financial sector to meet international goals to reduce carbon emissions in accordance with the Paris Agreement.
