Energy Efficient Equity Changes Name to Become FortiFi
LOS ANGELES, Jan. 7, 2020 /PRNewswire/ -- Specialty financing company Energy Efficient Equity, Inc. (E3) has changed its name to FortiFi Financial, Inc. (FortiFi). FortiFi, formerly Energy Efficient Equity, has experienced significant growth into new territories in both California and Florida. FortiFi's primary product offering is PACE (Property Assessed Clean Energy) financing that helps homeowners and businesses make their properties more energy efficient and resilient.
FortiFi's expanded territory in California and entry into the Florida market position it for continued growth in 2020. "FortiFi enables people to make their homes and business more energy and water efficient and to protect against natural disasters like earthquakes, wildfires, and hurricanes," explained Brad Knyal, CEO of FortiFi. "I'm excited about our expansion across California and into Florida. Our continued growth and ability to access capital has proven the efficacy of our business model within the PACE industry."
E3/FortiFi began offering PACE financing in 2017 using a centuries-old financing structure that enables local governments to finance public purpose improvements through assessments on real property. FortiFi recently joined the California Statewide Communities Development Authority Open PACE Program (CSCDA), significantly expanding the number of jurisdictions in California where it can provide financing. The CSCDA is a joint powers authority of over 334 cities and counties in California that provides tools for financing community-based public benefit projects, including PACE. Through the CSCDA, over 75% of California homeowners now have access to FortiFi financing. FortiFi also launched in Florida in mid-2019, operating under the authority of the Florida PACE Funding Agency (FPFA). FortiFi contractors can now serve more than 60% of Florida homeowners.
FortiFi strives to provide the highest level of service to property owners by working with reputable, pre-screened contractors who are bonded, licensed and insured and who receive comprehensive training on such topics as consumer protection and non-discrimination. FortiFi conducts live phone calls to ensure that the customer understands the financing terms before closing, and again to confirm the project has been completed to the customer's satisfaction before the contractor receives any payment. Financing eligibility is based on the equity in the home, the property owner's ability to pay the PACE assessments and other underwriting criteria. FortiFi makes critical safety, cost-saving and clean energy improvements accessible to more homeowners.
SOURCE FortiFi Financial, Inc.