Project Finance

In3 Capital offers a complete suite of services for middle-market to larger-scale project financing, $10 million at the low end (though our funding starts at $25 million) and well into the US$ billions range at the top end. Our expertise includes arranging project funding from an in-house family office with global reach for diverse sectors such as “sustainable” infrastructure and manufacturing, including climate finance, regenerative, climate-friendly agriculture, green buildings (commercial real estate and/or affordable housing), agroforestry, waste conversion, water and renewables-related projects.

All priority sectors include a focus in 2024 on waste-to-value, regenerative communities, designed for social/environmental impacts, including hospitality, hospitals, and food to forests.

We break with several industry conventions to directly finance purpose-driven, mid-market “impact projects” under In3’s Completion Assurance Program™ that is faster, easier and better than the traditional way. Start here to explore options for funding or other services.

Project Finance Toolkit

The following materials are designed for zero cost, “do it yourself” guides to building a winning proposal, whether sent to us, or other capital sources. Enabling easier access to vital information and democratizing the world of finance is part of our mission. We hope you enjoy and prosper while making the world a bit better … here’s to your success!

Finance-ability Checklist
What constitutes a complete, investor-grade financial model?
How to construct a Sources & Uses Statement [PDF download]
In3’s Investment Strategy whitepaper (optional)
In3CAP Investment Proposal Builder — includes everything Project Developers and Sponsors need to succeed.

Definition: What is Project Finance? How does it work?

Project finance is normally quite conservative, looking at not just the average case, but the worst-case scenario, making traditional routes to project funding quite unpredictable and hard to secure.

Project financing is widely used for large, capital-intensive projects, for longer periods (“long-term” financing is typically at least 3-5 years) than construction financing or even “asset-backed” loans, where traditional lenders rely on the assets created for the project as security, and the debt and equity are repaid with additional profit from the cash flow generated from the project(s) on a standalone basis.

Defined using industry terms (see glossary), such loans are non-recourse or limited recourse to the backers, owners or sponsors of the project.

Non-recourse means the borrowers and shareholders have no personal liability in the event of monetary default.

It is a type of funding arranged with a holding company, a Special Purpose Vehicle (SPV), that owns the assets of one or more projects, usually funded through a combination of equity (a carried interest) and debt (an asset-backed loan). However, if the borrower defaults, the traditional debt-issuer has the right to call the loan guarantee, or seize the pledged collateralized assets as defined in the Loan Agreement.

Traditional project finance is long-term financing based upon the projected cash flows of the project rather than the balance sheets of its sponsors and requires “shovel-ready status” for new construction projects. However, at In3, we have the flexibility to fund almost any reasonable stage of readiness (so long as it reasonably beyond the idea stage) in the middle-market range of at least $25 million ($50M or more preferred) and into the US$ billions range, per project or portfolio of projects.

We can also assist with bringing earlier-stage projects forward, and do so quickly — obtaining fast initial “yes” or “no” responses from our capital partners.

Funding can be a combination of debt and equity up to 100% of the project’s budget. This “hybrid” approach (combining equity and debt from one source) is unusual in project finance, as debt usually requires a substantial commitment of equity from a counterparty, but here we can, and often do, provide both at competitive rates.

We can also assist via hourly, fixed contract or retained advisory services (read more), “greenfield” project origination (taking projects from little more than an idea to funded and operating), expertise in our preferred sectors, vetting services, preparing plans, preparing or auditing financials, and helping create and/or polish presentation materials, sometimes forming joint venture development partnerships to partially offset cash costs. More on Why Project Finance? or Full suite of In3 services | Customer Service options

Your Capital Partners for Renewables Projects worldwide

Together with our capital partners, In3 Capital Group has financed middle-market projects — from $2M to $600M, including construction loans, equity investments, refinancing, retrofits, buyouts, and various “creative” finance transactions (e.g., quasi-equity like convertible notes) that resolve the reasons projects and ventures have yet to receive the capital they deserve (related article about problems we solve) — as well as the more traditional “greenfield” project financings or sale of existing assets in the US and overseas. More at services.

How to expedite project financing with capital guarantees

Tools & Resources — complete library of tools, templates, background papers, and practical guidance on how to obtain and use financial guarantees to expedite financing and obtain the best terms.

To get started with the non-guaranteed path, use “Readiness and Investment Navigator” to make it RAIN, a fast and easy, 9-point assessment.