NY Green Bank has announced the launch of RFP 19: Mandatorily Redeemable Preferred Equity for Disadvantaged Community Lenders which invites disadvantaged community-focused financial entities including CDFIs, insured credit unions and depository institutions, and nonprofit lending corporations to submit proposals for mandatorily redeemable preferred equity investment.
NY Green Bank seeks to support financial entities that demonstrate ongoing and growing capability to originate, underwrite, and manage project financings that reduce emissions and deliver benefits to disadvantaged communities in New York State. NY Green Bank will prioritize proposers that have strong plans for how NY Green Bank investment will enable them to expand such lending activity so that the volume and/or ambition level of projects supported is greater than it would have been otherwise.
The solicitation is now open for proposals, which will be processed and scored on a rolling basis as they are received. NY Green Bank anticipates strong demand for investment through this solicitation and encourages those interested in proposing to do so immediately. More details, including proposal submission instructions, evaluation criteria, and selected indicative terms of their preferred equity investment offering can be found in the Request for Proposals. You may submit a proposal through the online portal.
Please reach out to Clara Grantier with any questions.