1st Source Bank Announces Financing of 10 Solar Projects in 2017

1st Source has committed itself to serving the renewable energy industry. The Bank made its commitment to solar due to the unique needs of smaller commercial clients around the country, the Bank’s ability to provide tailored equity and financing options to this group of businesses.

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1st Source Bank, a financial services company has announced the financing of 10 solar projects in five states including Indiana, Michigan, Massachusetts, Montana and Minnesota.

Ist Source has funded projects in its first full year serving the commercial solar industry. The Bank maintaining its community focuses support local elementary schools and universities, commercial customers, and public utilities throughout the country and within the Bank’s Indiana and Michigan market. The most recent solar project in the region is on the Michigan State University campus in East Lansing, Michigan.

“With the financing of these 10 projects in our first full year, we have aided businesses, towns, schools, and individuals to achieve improved environmental efficiency,” Shelli Alexander, Senior Vice President, Business Banking said.

Furthermore, “The business driver for us in this industry is the same for almost everything we do at 1st Source—the customer. Some customers have mandates to increase their use of renewable and sustainable sources of energy, while others just want to save money. Solar allows them to do both, and 1st Source can help make it happen.” Alexender added.

1st Source has committed itself to serving the renewable energy industry. The Bank made its commitment to solar due to the unique needs of smaller commercial clients around the country, the opportunity to help improve the environment, and the Bank’s ability to provide tailored equity and financing options to this group of businesses.

Christopher J. Murphy III, Chairman and CEO, stated, “1st Source is pleased to contribute to solar renewable energy growth in the U.S. and values its positive impact on communities – like Kokomo, Indiana, the location of our first solar project.”

He further said, “Solar energy’s positive impact aligns with our approach to serving our clients and the communities in which they live. I am proud of the work the solar team has done thus far by leveraging special skills to help our solar clients. This team lives our values of helping our clients achieve security, build wealth, and realize their dreams.”

Source: Business Wire

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