Commercial solar equipment loan
Loans for building owners installing solar for their business or community, covering up to 80% of project costs subject to credit approval.
Ez a lehetőség jelenleg angolul érhető el.
Finance a single solar installation or a portfolio of projects. The published loan size starts at CAD 2 million and extends to CAD 45 million or more; larger loans may be shared with other lenders. The amount available depends on whether your income can cover loan repayments, with financing capped at 80% of project costs.
You repay the loan with interest. Fixed and variable rates are available, assessed using your organization’s finances, operating history and project size. The loan term can be up to 10 years, while payments can be calculated over a repayment schedule of up to 30 years, depending on contract length and equipment life. That longer calculation period does not extend the loan term; VCIB sets out your financing terms before the full credit application.
VCIB can pay out the approved loan in up to four instalments tied to project milestones. Each instalment must be at least CAD 100,000. The bank works with you and your installer to agree the funding schedule and the account that receives the money.
Eligibility
The offer is designed for building owners financing solar for a business or community. The intake form accepts corporations, incorporated charities and nonprofit societies, partnerships, joint ventures, co-operatives, sole proprietors, strata corporations, trusts and unincorporated associations.
The business-province field offers every Canadian province and territory except Quebec. It asks separately for the installation address.
Approval depends on VCIB’s credit assessment. VCIB takes security over the solar panels, meaning they serve as collateral for the loan. Your existing mortgage lender may need to sign a waiver. VCIB also requests a General Security Agreement (GSA), a further agreement giving the bank security for the loan. That agreement may rank behind an existing lender’s security.
How to apply
- Állapot
- Folyamatosan nyitva
- Az adott pályázati kör feltételei
- Credit approval is required.[^c8]
Start with VCIB’s online solar financing intake form, giving your business and project details. The team reviews the project and requests supporting documents if it meets their criteria.
Prepare a quote and/or feasibility study from the installer or developer and year-end business financial statements for the past two fiscal years. A site map is preferred but optional; provide this year’s financial statements if available. VCIB may request further documents after an introductory call.
After reviewing your documents and discussing the project, VCIB provides a Letter of Interest with proposed financing terms. If you proceed, it prepares the full credit application and gives a credit decision and project-based funding timeline. An approved loan leads to a binding Commitment Letter, followed by security documents and registrations before scheduled payments. The four-week processing guarantee applies only when your installer belongs to VCIB’s Solar Installer Partner Program; it runs from receipt of the loan application to issue of the Commitment Letter.