PORTLAND, Ore.--(BUSINESS WIRE)--Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ), has expanded its GreenStreet lending program to include products that provide businesses with energy efficiency and renewable energy financing. GreenStreet products are available at all Umpqua Bank lending locations in California, Nevada, Oregon and Washington.
“Umpqua Bank built this GreenStreet Business lending program to match increased market demand for innovative products that allow businesses to invest in the future of their companies,” said Cort O’Haver, EVP of commercial banking for Umpqua Bank. “Monetizing the value of energy efficient improvements will allow companies to leverage energy efficient and solar power technology, and we look forward to providing access to smart, affordable financing.”
GreenStreet Lending New Commercial Loan Products
Umpqua Bank’s commercial GreenStreet lending program offers two loan products that make it possible for businesses to make energy-saving improvements and harness solar power. GreenStreet commercial loan products have a reduced origination fee of .50 percent. All other fees apply. Approved loans will receive the best available price, no tier pricing.
The GreenStreet commercial real estate improvement loan is for amounts of $5,000 to $250,000 or $250,001 to $1 million. The term of the loan is up to 15 years, re-amortized every five years. The loan is for energy solutions and solar energy.
The GreenStreet business improvement term loan is for amounts of $5,000 to $250,000 or $250,001 to $500,000. The term is up to seven years and the loan is also for energy solutions and solar energy.
Oregon businesses have had access to previous GreenStreet lending programs and can now also take advantage of these new products.
For more information about Umpqua Bank’s GreenStreet Lending, go to: www.greenstreetloan.com or visit any Umpqua Bank store.
About Umpqua Bank
Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ) with locations between San Francisco and Seattle, along the Oregon and Northern California Coast, and in Central Oregon and Northern Nevada. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including The Wall Street Journal, The New York Times, BusinessWeek, Fast Company, and CNBC. The company has been recognized for the past five years in a row on FORTUNE magazine’s list of the country’s “100 Best Companies to Work For.” Umpqua Holdings also owns a retail brokerage subsidiary, Umpqua Investments, Inc., which offers services through Umpqua Bank stores and in dedicated offices throughout Oregon. Umpqua’s Wealth Management Division serves high net worth individuals and nonprofits by providing customized financial solutions and offerings. Umpqua Holdings Corporation is headquartered in Portland, Ore. For more information, visit http://www.umpquabank.com.