PACE Loan Group COO Bali Kumar reelected onto Board of PACENation

Minneapolis, Minnesota (September 24, 2024) – PACE Loan Group (PLG) chief operating officer Bali Kumar was reelected for the fifth consecutive year onto the Board of Directors for PACENation, a national organization that promotes education, legislation, and development for Property Assessed Clean Energy (PACE) financing, which is long-term, non-recourse, fixed-rate financing for renewable and energy efficiency projects.

Mary Luèvano, Executive Director of PACENation, said, "We are thrilled to welcome our new Board members and grateful for the continued service of our current Board members. Their diverse expertise representing C-PACE administrators, capital providers, banks, local governments, and non-profits will be invaluable as we continue our work to advance PACE financing for all stakeholders.

Bali’s career with PACE finance started in 2018, when he began working as the CEO of Michigan’s PACE program administrator, Lean & Green Michigan (LAGM). While at LAGM, he developed the state’s program into one of the nation’s strongest and was elected to PACENation’s first Board of Directors in 2019, along with eight other clean energy finance and policy trailblazers.

After joining PLG as COO in 2021, Bali continued to work and promote legislation in the PACE industry as a direct lender, instead of as a program administrator. At the 2023 PACENation Summit, he received the PACESetter Award for Promoting Diversity, Equity, and Inclusion in the PACE Marketplace for his efforts within the industry and fostering a diverse team of CRE professionals at PLG, which was recognized as one of Minneapolis / St. Paul’s Best Places to Work in 2024. In 2024, two more PLG employees received awards at the PACENation Summit, along with PLG receiving a transaction award for the financing of the $16.75M Aviator Hotel in Anchorage, Alaska.

Keeping in line with PACENation’s mission, PLG worked to incorporate education into the company’s 2024 goals. “Bali was instrumental in getting expansive legislation passed in Alaska by sharing his experience with the program as an administrator and capital provider,” said Rafi Golberstein, chief executive officer and founder. “He also played an active role in recent Minnesota legislation that expanded the program’s amortization period and Loan-to-Value limit and continues to be a strong advocate for the industry and our company.”

As a leading direct lender, PLG continues to educate the CRE industry on the benefits of PACE and its rapidly expanding legislation, and industry organizations like PACENation ensure that the company stays at the forefront of this creative financing tool.