By: Isabelle Elizondo On: September 18, 2023 In: Comments: 0

On November 10, 2022, NY Green Bank (“NYGB”) closed a $10.0 million revolving credit facility, with a $15.0 million accordian feature, to Tenet Energy, Inc (“Tenet”). NYGB’s facility will lend against electric vehicle (“EV”) auto loans originated by Tenet. This financing will provide Tenet with additional capital to provide financing to EV owners in New York State. The facility will allow Tenet to grow its EV auto loan portfolio and efficiently monetize auto loans through private securitizations or loan sales.

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