Loan guaranty for rooftop solar at Pullman High School
- Capital Committed
- $50,000
- Close Date
- June 2026
- Transaction Type
- Loan guaranty
- Source of Funds
- US GB50 grant
- Rate
- N/A
- Term
- 12 months
Project description
Washington Builds committed a $50,000 guaranty behind a term loan from Craft3, a community development lender, financing a 134.56 kilowatt rooftop solar array at Pullman High School in Pullman. The guaranty covers the first 12 months of the loan term and is funded by a $50,000 grant to Washington Builds from US GB50.
Why it matters
The array is expected to generate about 176,600 kilowatt-hours a year, cutting the high school's energy costs by roughly $10,000 annually and avoiding an estimated 128 tons of greenhouse gas emissions. The savings stay in the district's operating budget, and the district hosts the system without putting capital into it.
Market barrier
Community solar projects at this scale are financed through single-asset entities with little collateral beyond the equipment and no operating history of their own. Early repayment often depends on incentive and rebate funding whose timing and availability are not settled when the loan closes. That uncertainty is what stops these projects, not the strength of the underlying asset.
Financing solution
Washington Builds guaranteed $50,000 across the first 12 months, the stretch when funding sources are least settled. The guaranty holds that uncertainty so the lender does not have to, which lets Craft3 lend directly to the project entity rather than conditioning the loan on any single expected payment arriving on time.