North Carolina-based Live Oak Bancshares has officially launched a new lending division focused on financing for utility-scale solar energy projects nationwide. The bank typically funds projects in the range of 1 MW to 25 MW.
Live Oak says it assembled a team of lenders and industry experts to provide flexible lending solutions to developers and their tax credit investors, within a variety of deal structures.
General Manager Jordan Blanchard will lead the new division, whose team will also include Rebecca Rogers. Prior to joining Live Oak, Rogers, as assistant general counsel and commercial loan officer at Self-Help Credit Union, built a renewable energy lending practice that deployed more than $175 million in project financing in two years, according to Live Oak.
“We know the program, the process and the players, so our customers don’t have to teach us the industry. We are out in front with them closing their loans,” said Rogers.