West Town Bank & Trust and Windsor Advantage Help Fuel Fastest-Growing Source of New Energy

RALEIGH, N.C., Jan. 31, 2018 /PRNewswire/ -- West Town Bank & Trust, ranked the nation's No. 3 USDA B&I lender in 2017 by dollar volume (Source: United States Department of Agriculture), provided the permanent financing for two 75-MW (DC) solar facilities in North Carolina, which are owned and operated by Cypress Creek Renewables, an industry-leading developer and operator of utility-scale solar farms.  Permanent financing through the USDA loan programs totaled $83.5 million across the two projects.  The generation facilities, Bullock Solar in Vance County and Bladen Solar in Bladen County, add a combined 150-MW (DC) of solar electric generation capacity to North Carolina.

With more than 3,000-MW (DC) in cumulative capacity, the Tar Heel State has moved up from No. 4 in 2016 to No. 2 in 2017 (Source: Solar Energy Industries Association), and is now among the top 10 states for solar jobs.  "Last year, the solar industry grew 17 times faster than the rest of the U.S. economy and we are proud to be a major driver of employment growth in North Carolina and other states across the country," said David Thigpen, Director of Project Finance at Cypress Creek Renewables.  "These projects bring a tremendous amount of construction jobs, tax base and infrastructure to rural areas throughout the country".

Riddick Skinner, the EVP of Government Guaranteed Lending at West Town Bank & Trust stated, "Through the continued development of solar initiatives in the southeast and loan closing efficiencies offered by our partners at Windsor Advantage, we hope to double the bank's solar participation in 2018 while keeping North Carolina positioned as the No. 2 state for clean energy."

Windsor Advantage is the nation's largest third-party service provider of USDA guaranteed loans, processing more than $360 million in volume since 2010.  With the proceeds from these loans, more than 2,100 jobs have been created or maintained in rural communities in 18 states across the country. 

About West Town Bank & Trust

West Town Bancorp, Inc. is the registered bank holding company for West Town Bank & Trust, an Illinois state-chartered bank based in North Riverside, Illinois.  The bank provides banking services through its offices in Illinois and North Carolina.

Its primary deposit products are checking, savings, and time certificate accounts, and its primary lending products are residential mortgage, commercial, and installment loans.  Additionally, the bank engages in mortgage banking activities and, as such, originates and sells one-to-four family residential mortgage loans in multiple states.  To learn more about West Town and its subsidiary bank, please visit www.westtownbank.com.

About Windsor Advantage, LLC

Windsor provides a comprehensive outsourced USDA and SBA loan department to lenders nationwide.  With more than 150 years of collective government guaranteed lending experience, cutting edge systems and rigid controls, Windsor Advantage is uniquely qualified to support its clients to develop and implement a thoughtful and profitable USDA and SBA 7(a) loan program.

Since 2010, Windsor has processed more than $1.7 billion in government guaranteed loans and currently services a portfolio in excess of $1 billion in loans for more than 75 banks across the US.    Windsor Advantage has offices in Chicago, IL; Indianapolis, IN; and Charleston, SC.  For more information, call 312-248-8530 or visit www.windsoradvantage.com.

SOURCE Windsor Advantage, LLC

Related Links

http://www.windsoradvantage.com