Bridge Finance Facility (FAQ)

How long is the BFF Intake Application window open for the 1st round?
It is open between February 3, 2026, and February 13, 2026. This includes uploading all attachments to OneHub.

What types of projects is the BFF designed to support?
The BFF supports Maryland-sited solar and solar-plus-storage projects that serve low- and moderate-income households and need early-stage capital to advance toward construction. The focus is community solar and affordable multifamily housing projects behind the meter.

How is the BFF different from traditional construction or permanent financing?
The BFF provides short-term bridge financing for early-stage project development costs, including pre-construction expenses that commercial lenders are typically reluctant to fund. Use of proceeds include:

• Interconnection application / studies / deposits
• Engineering and Design
• Permitting
• Equipment Deposits / EPC Mobilization

What stage should a project be at to be a good fit for BFF financing?
Projects should have identified sites and an initial development plan, but may still be advancing interconnection, permitting, final design, or construction financing.

Does submitting a preliminary application guarantee funding?
No, submission allows eligibility and readiness review, but funding is subject to underwriting, approvals, and capital availability.

Who is eligible to apply?
Eligible applicants include private or nonprofit solar developers, project special purpose entities, affordable housing owners or affiliates, and mission-driven organizations.

Are out-of-state developers eligible if the project is in Maryland?
Yes. Applicants may be based outside Maryland, provided the project is located in Maryland and meets all program requirements.

What does it mean that at least 51% of project benefits must serve LMI households?
At least 51% of the project’s energy or financial benefits must be allocated to households at or below 150% of the applicable Area Median Income of the State, consistent with program definitions.

Which project models are eligible?
Eligible models are community solar projects (front of the meter) and affordable multifamily housing projects (behind the meter).

Is there a preferred or maximum project size?
Projects of various sizes are eligible, with community solar projects at or below 2 MW AC. Larger projects may still be considered.

Are solar-plus-storage projects eligible, and is storage required?
Solar-plus-storage projects are eligible, but battery storage is not required.

Can BFF funds be used for construction or equipment procurement?
Yes, early construction and equipment procurement costs may be eligible, typically once construction financing is identified or clearly anticipated.

What is the typical loan size and term?
Loan sizes and terms vary by project and are based on development needs, risk profile, and the proposed repayment strategy. All BFF loans are short-term bridge financing. Typical range is $500,000 to $1,000,000 with a max amount at $1,500,000.

How and when are funds disbursed?
Funds are disbursed through one draw based on approved uses of funds, documentation, and project milestones. The goal for the first short-term loans is to have the funds be disbursed by May 2026.

What level of site control is required for the application?
Applicants should demonstrate site control or a credible path to site control, such as a lease, option, or letter of intent.

How far along does interconnection need to be?
Final interconnection approval is not required at intake, but applicants should clearly state current status and expected timelines.

What is meant by a “credible path to takeout financing”?
Applicants must demonstrate a realistic plan for repaying the BFF loan, such as grants, construction financing, permanent debt, tax equity, sponsor equity or other forms of capital.

How does MCEC evaluate project risk and readiness?
Evaluation considers site control, interconnection and permitting status, sponsor experience, project economics, community impact, and feasibility of repayment.

What happens after I submit the preliminary application?
MCEC will review the application for eligibility and readiness and may request additional information or invite the project to the next stage of review.

Who should I contact with questions before applying?
Applicants may contact the BFF team at the Maryland Clean Energy Center at [email protected], which administers the BFF in partnership with the Maryland Energy Administration.

What is the LMI definition for the BFF program?
Low-to-moderate Income: as defined in Md. Code Ann., State Gov’t § 9-20B-05(i)(2)(iii) and §9-2016 (annual income at or below 150% of the average median income for the State). View the 2025 LMI income limit tables here.

What if my organization has multiple eligible projects or a portfolio of eligible projects?
Organizations with multiple projects should complete one application for each project. MCEC will assess each individual project as a standalone application. If more than one project in a portfolio is chosen for financing, MCEC will consolidate the BFF loan during diligence and loan closing (i.e., MCEC will administer a single loan if multiple projects with a single sponsor are selected). 

What documents are required to be uploaded to OneHub?
Project Readiness:

1. Site Control Documentation
2. Interconnection Application Confirmation or Current Status Evidence 
3. Project Site Map or Layout
4. Detailed Construction Timeline or Project Schedule
5. Subscriber Acquisition Plan (Community Solar Only)
6. Evidence Of Affordable Housing Status (Multifamily)

Financial: 

7. Previous 2 Years of Business Tax Returns
8. Previous 3 Years Company Prepared, CPA Prepared, or Audited Financial

Statements (Income Statement and Balance Sheet):  

9. Preliminary EPC Scope Or Budget
10. Project-Level Pro Forma
11. Borrower or Sponsor Financial Projections
12. Capital Stack Summary
13. Sources and Uses

Corporate:

14. Articles of Organization/ Articles of Incorporation
15. Operating Agreement/Bylaws 
16. W-9
17. Company Bio
18. Number of Employees

Where do applicants upload attachments?
Upon the successful submission of the BFF Intake online application, the applicant will receive a link from MCEC for uploading additional attachments to One Hub. Note the disclaimer below about uploading documents.

What are the typical interest rate ranges and fees?
The BFF is committed to providing support to eligible projects by closing critical financing gaps at below market-rates. In the 1st round of BFF loans, the maximum initial rate will be 7%, which applicants may use for their financial analysis purposes to determine whether the BFF serves their business goals. The final rate for successful applicants in this round will be determined by the project’s assessed risk and impact. We may even consider a step up in the rate in case a borrower requests an extension over the initial loan term. Interest rates for future rounds of loans made through the BFF will be determined based on market needs, portfolio performance, and financial sustainability of the program. 

 Note there are no additional fees (origination, legal fees, etc.). 

Are BFF loans required to be repaid before construction financing, or can they remain outstanding and be subordinated to a construction loan or repaid with later equity?
BFF loans are required to be repaid prior to construction financing or any other source of capital that would require a lien on the same project/business assets. 

Is there a limit as to how many individual projects a single developer / sponsor can apply for?
There is no limit contemplated at this point.  

If we as one developer have multiple projects, each contained in its own SPV / legal entity, should we apply as one developer, or apply for each SPV / legal entity? 
The BFF applicant should be whichever entity will eventually assume the BFF loan/become the borrowing entity, should its project be selected for financing. The applicant can also make note of any such ownership structure in Question 5 regarding application information (e.g., “The Project Company LLC is owned by XXX”).   

 Is the $1.5M maximum loan amount listed in the program FAQs per project, or per developer (aggregated across all accepted projects)? 
Per developer.  

If multiple projects are accepted and aggregated into a single loan, can we move funding between projects within the loan? E.g., if we have ten projects accepted for a total loan amount of $1.0 million, can we spread the funding between projects flexibly as we see fit, or is the amount of funding for each project fixed at the time of project acceptance? 
Project applications should reflect the financing needs of individual projects. While MCEC will consider financing multiple projects via a single BFF loan as a portfolio, we expect actual project costs to align with submitted information.  

Can we apply for projects which have not yet applied for interconnection approval? 
Yes, but the goal is that interconnection will be forthcoming shortly.  

 Do all program loans have a maximum term of 12 months? 
A 6-month extension is an option, but 12 months are preferred.  

 What are the characteristics that define project acceptance? Will certain project characteristics be weighted more heavily than others (e.g., project size, time to commencement of construction, etc.)? 
Yes. Using the loan proceeds for achieving commencement of construction safe harbor is a major factor. 

 For projects with multiple points of interconnection, should we treat each point of interconnection as a separate application, or apply only once for the whole project? 
Applicants should submit a single application for the project, even if the project includes multiple points of interconnection.   

 What must be provided for the required sources and uses / capital stack summary? Is this a sources and uses / capital stack for the project assuming they are accepted and receive BFF program funding? 
Applicants should provide a complete sources and uses of funds and capital stack summary for the proposed project. This should clearly identify all anticipated sources of capital (including equity, debt, grants, and other incentives) and all planned uses of funds. The sources and uses / capital stack should be presented assuming acceptance into and receipt of BFF program funding, with the BFF funding clearly identified as a source.   

 What must be provided for the project pro forma? Are these financials pro forma assuming acceptance and funding from the BFF program? 
The project pro forma is a project-level financial summary that presents expected cash flows, revenues, operating expenses, and financing assumptions over the relevant period. The pro forma should reflect the economics of the specific project (not the applicant’s overall organization) and should be prepared assuming acceptance into and receipt of BFF program funding, with BFF terms incorporated into the financial assumptions. More information about indicative BFF loan terms can be found in the FAQ.   

 What is required for the subscriber acquisition plan requirement? Given these projects are pre-NTP, is a detailed plan enough, or do we need to already have subscribers / a subscriber acquisition partner signed? 
Detailed plans and showing you have experience doing this successfully in past projects is important.  

What is the rate guarantees and covenants on the loans? 
Please see earlier section on interest rates.   The decision on the need for guarantees will depend on the credit analysis of the financing request. In certain cases, we could request a sponsor guaranty as part of the collateral package.   Please refer to this webpage which lists Mandatory Legal Terms that will be included in the financing documents. Other covenants will be determined during the due diligence and underwriting process.  

If we apply via project SPE which does not have audited financials or tax returns as its disregarded entity, what should we upload for the audited financials and tax return requirements?
If an application is made via a project SPE then we would expect the entity with a controlling ownership in the SPE to provide their audited financials and tax returns, where available.  

Will the Recording Be Shared? 
Yes, it can be found at the bottom of the BFF web page.

Is the Deadline Flexible? 
The deadline is not flexible.  

Disclaimer
MCEC treats all collected data confidentially. In addition, Section 4-335 of the Public Information Act requires that MCEC deny inspection of any part of the public record that contains information concerning trade secrets, confidential commercial information, or confidential financial information. The determination whether the information constitutes a trade secret, or confidential commercial or financial information, is generally left to the judgment of the business enterprise about which the information relates. Accordingly, MCEC shall keep all records of commercial activity it may acquire in strict confidence to the extent permitted by the Open Meeting Act and Public Information Act. Any privacy concerns or questions regarding project details can be directed to [email protected].

Additional Data Submission and Platform Use Notice
As part of the BFF application process, applicants will be invited to upload supporting materials using MCEC’s secure document management platform, OneHub. Use of OneHub is subject to OneHub’s applicable terms and conditions, which applicants must accept as users of the platform.

Applicants should not submit personal identifying information (PII) through this intake form or via OneHub, including but not limited to Social Security numbers, taxpayer identification numbers, dates of birth, or other sensitive personal data. If such information is submitted inadvertently, MCEC may restrict access to or remove the information to reduce privacy and security risks.

Applicants are responsible for clearly marking any materials they consider to be confidential, proprietary, or commercially sensitive at the time of submission. While MCEC will make reasonable efforts to protect information designated as confidential, such protection is subject to and limited by applicable state law.