Funding helps SELF build capital, provide more green loans in disadvantaged communities

FORT PIERCE, Fla., Jan. 31, 2023 – The Solar and Energy Loan Fund (SELF), America’s first local green bank and Community Development Financial Institution (CDFI), has received a $2 million Equity Equivalent (EQ2) investment from PNC Bank. The long-term, deeply subordinated loan that provides capital and acts like equity, will enable SELF to continue to grow throughout Florida, meeting the growing demand for its green home improvement programs, affordable housing retrofitting and housing development financing. 

By leveraging the capital from the EQ2, SELF will increase its lending in disadvantaged communities by providing low-cost loans to homeowners while advancing resilient, low-carbon housing. The lending commitment by PNC Bank represents its long-standing support for accelerating the transition to a low-carbon economy, and is part of the bank’s  Community Benefits Plan, which pledges $88 billion in loans, investments, and other financial support to bolster economic opportunity for low- and moderate-income (LMI) individuals and communities, and people and communities of color.

“We’ve seen the tremendous impact SELF has made in Florida and we are pleased to collaborate with them once again to cut energy consumption in LMI communities,” said Aileen Pruitt, head of Community Development Banking for PNC Bank in Florida. We understand going green can be expensive for some individuals and neighborhoods. Ultimately, we hope this EQ2 will spur more families and business owners to affordably adopt better green building practices.”

SELF’s mission is to help build resilient, low-carbon, and sustainable communities for all. The non-profit is a vital partner for local governments to support LMI lending.

 “PNC was the first bank to invest in SELF in 2014, recognizing before anyone else that SELF’s model was innovative, highly impactful and sustainable,” said Duanne Andrade, SELF’s Executive Director. “This EQ2 indicates our enduring relationship with PNC and SELF’s maturity as a CDFI.” 


About PNC Bank 

PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit

About SELF

SELF is a non-profit, certified Community Development Financial Institution (CDFI), also known as Florida’s Green Bank. SELF’s mission to rebuild and empower communities by providing access to affordable and equitable capital to homeowners, landlords, developers, contractors and small BIPOC businesses to help transition communities towards an inclusive clean energy economy.