Download: PACE Arkansas Application Form

Download: Pulaski PACE Handbook


First, make your own judgement if you and your property will qualify for PACE financing. The requirements include:

  • Your property must be a commercial property
  • Applicant must be the legal owner of the property
  • Property must be located in Pulaski County
  • Property owner must be current on property tax payments and must not been in default for the past three years
  • Property owner must be current on mortgages with no notice of default for the last three years
  • Property owner must not have a record of bankruptcy for at least five years prior to application
  • Property cannot be subject to bankruptcy
  • Property cannot have any involuntary liens
  • The property owner(s) must be able to provide a lender verbal consent from the current mortgage holder (if any)
  • In most cases the financed amount cannot exceed 50% of property value. In addition, improvements and cannot exceed the property equity


  • Amount contingent on estimated energy savings and the total cost of improvements
  • The financing can be repaid over 5, 10, 15, or 20 -year period,  and is based on the useful life of the improvement(s). Multiple improvements may have varied payback periods – blended/step-down payback periods
  • Interest rate is TBD based upon lender review determination.  Estimated interest rate is between  350-450 bps over 10-year US Treasury rate and the financed amount is amortized
  • Assessment may stay with property after sale to any subsequent owner

Here’s the application process

  • Submit your Application by filling out the program Application Form/Information Request Form
  • Have your property audited for energy use
  • Create your project scope
  • Obtain Mortgage Lender Notification that mortgages or any other loans secured by the property are current, including equity loans and open equity lines of credit even if balance is zero or line of credit is unused
  • Have your contractor estimate the cost of the proposed improvements
  • Fund your project and start your upgrade

Five(5) Main Requirements (5 mantras of Pulaski PACE financing)

  • Must be Eligible Improvements listed on the main page of www.paceAR.com as well as in the  Pulaski County PACE program handbook
  • Financed improvement must generate a net positive cashflow. In other words, over the financing term the estimated savings must be higher than the total assessment (the total cost)
  • PACE LTV ratio must be =<20% of the appraised value for existing building. For new development project this ratio is =<10%
  • Mortgage+PACE LTV Ratio =<90% of the appraised value of the property
  • DSCR>=1.25. The ratio of NOI compared to total debt (Mortgage+PACE) must be min 1.25

Cost Covered by Pulaski PACE financing

  • Cost Covered by Pulaski PACE financing
  • Energy Audit or Energy Engineering
  • Permit and inspection fees
  • Equipment and Fixtures -Matrials Cost
  • Equipment and Fixtures-Labor Cost

*Terms and conditions are subject to change without notice. Rates and prepayment premiums will not increase after application has been accepted.

For more details, please see the paluski PACE handbook below:

Pulaski PACE handbook