News & Events


Press Release

SunGen Capital Management & AFC First Announce First Funding in Multi-State Program for FHA PowerSaver Home Energy Efficiency Loans


Allentown, PA & New York, NY,   November 24, 2014     AFC First Financial Corporation, a national leader in energy efficiency lending and program management and SunGen Capital Management, an energy project finance and investment management firm, have completed the first funding of a block of unsecured FHA Power Saver Home Energy Efficiency Loans as part of the roll-out of their multi-state home energy lending program. Warehouse capital for the program is provided by National Penn Bank with permanent capital raised by SunGen, which owns and manages the Special Purpose Entity (SPE) purchasing portfolios of loans originated and serviced by AFC First.

As a HUD designated FHA PowerSaver lender, AFC First is making this program available to homeowners in twenty-two states for energy efficiency work performed by its network of approved energy contractors. Qualifying homeowner can take advantage of a no closing cost, fixed rate, unsecured loan, with no pre-payment penalty for ENERGY STAR® rated and high efficiency air sealing & insulation, heating & cooling systems, windows, and “whole house” improvements using Home Performance with ENERGY STAR. There is no lien filed on the home and the PowerSaver loan has a longer term and lower rate than is generally available for unsecured installment loans. As compared to credit cards or other typical home improvement financing, PowerSaver loans are available at the same interest rate to all qualifying borrowers instead of using risk-based pricing with higher interest rates for borrowers with lower credit scores. The loan is also “true fixed rate”, meaning the interest rate is not potentially adjustable to higher interest rates like credit cards and is contractually locked in for the life of the loan.

Typical home energy efficiency installations are often in the consumer’s financing ‘twilight zone’ - too big for a credit card, too small for a home equity loan,” said Peter Krajsa, Chairman and CEO of AFC First. “ Simple, low payment fixed rate financing options like PowerSaver coupled with a reliable contractor network can help these homeowners truly afford quality energy –saving home improvements.”

PowerSaver loans are federally-insured and available as unsecured loans to $7,500 from AFC First and can be coupled with an additional direct loan from AFC for a total loan amount of $25,000 under AFC First’s PowerSaver Plus loan.

“Residential energy efficiency and renewable energy financing is shifting room from subsidy-based, creating attractive opportunities for private investors. The AFC First PowerSaver program is taking advantage of this with SunGen’s flexible and scalable financing platform,” said Sakis Asteriadis, Managing Partner of SunGen Capital Management.

For more information visit


AFC First Financial Corporation, founded in 1947, administers energy efficiency lending programs in partnership with states, utilities, manufacturers and municipalities and a network of over 6,000 approved energy efficiency contractors.  It is a US DOE designated Home Performance with ENERGY STAR sponsor, a BPI partner and the recipient of the 2013 Alliance to Save Energy Andromeda Award.
SunGen Capital Management structures creative financing programs providing on-demand funding to residential energy efficiency and solar projects. It raises private capital and manages portfolios of assets, creating attractive investment opportunities while providing low-cost capital to its program administration partners. For more information, please contact: Sakis Asteriadis, Managing Partner, (646)714-7421

Back to News & Events