Re: Loan terms
Inbox
| Mark Cann <mark.cann@hannahsolar.com> | Wed, Jun 8, 2016, 9:03 AM |  | |
| to me |
Never said 20 I don’t think. 10-15. I have a 15 year.
Depends on customer if credits go towards loan
Sent from my iPhone
> On Jun 8, 2016, at 8:06 AM, Matt Warren <matthewtwarren3@gmail.com> wrote:
>
> Are you sure the bank notes for commercial solar projects are for 20 years? Not 10? Also, would the customer have to reinvest their credits to pay down the loan or is pocketing them an option?
>
> Matt Warren
> Solar Power Provider
| Richard Burts <richardburts@gmail.com> | Thu, Jun 9, 2016, 10:21 PM | | |
| to me |
Thanks Matt
Richard
On Jun 9, 2016, at 2:05 PM, Matt Warren <matthewtwarren3@gmail.com> wrote:
Great news on your questions from yesterday. Please see below.
Matt WarrenSolar Power Provider
Begin forwarded message:
From: Doug Daniels <ddaniels@visionsolar.com>
Date: June 9, 2016 at 1:12:38 PM EDT
To: Matt Warren <matthewtwarren3@gmail.com>
Subject:Re: tax and financing question
1) If an LLC owns the property, are the credits able to flow through the LLC and allow the owners to personally take the tax credits on their personal tax returns? Are they able to be used based on a % of their ownership in the LLC? Ex. If they are 50% owners, they could take 50% of the tax credits on their personal tax returns?
This will depend on the LLC structure but typically LLCs are just a pass through so the individual can take the depreciation on their personal side.
2) May the federal tax and state tax credits be extended at all if the client can not use them up within the designated time period
Yes. They have up to 20 years to use them. The 6 year schedule is just the new amount per year allowed to depreciate that year in addition to previous years if there is any carry over.
3)_What is the security for the loan? is it the system or a mortgage on the building or something else?
Typically it is the system itself for collateral.
