AFC First Financial
AFC First Financial operates a PACE (Property Assessed Clean Energy) financing platform serving homeowners in California and Florida, providing up to $250,000 in property-tax-based financing for home improvements including solar, HVAC, roofing, and hurricane protection, without FICO requirements.
- Company typePrivate
- Founded1947
- HeadquartersAllentown, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What AFC First Financial does
AFC First Financial is presented in firmographics as a private financial institution founded in 1947 and based in Allentown, Pennsylvania, offering energy-efficiency and renewable lending programs. The detailed operational data supplied describes a closely adjacent business — Renew Financial Group LLC, a PACE (Property Assessed Clean Energy) financing administrator operating from Oakland, California, under NMLS #1788120 and California PACE Program Administrator License #60DBO-90653. (Note: the firmographic name 'AFC First Financial' and the detailed data name 'Renew Financial' appear to reflect a data mapping conflict; the analytical content below is drawn from the detailed operational record.) The company operates a PACE financing platform that funds residential home improvements — solar panels, windows and doors, HVAC, roofing, water-efficient landscaping, hurricane impact protection, and seismic retrofits — through 100% financing up to $250,000 per property, repaid as a non-FICO-based assessment added to the property tax bill and secured by a lien on the property.
The technology layer is a digital financing and underwriting platform with an online application, address eligibility checker, and state-specific contractor portals (California and Florida). Distribution is direct-to-consumer via website and phone (844-736-3934), augmented by a screened contractor referral network. The business model is transaction-based: PACE assessment origination generates origination/transaction fees and net interest income on receivable servicing, with repayment collected through the property tax billing mechanism. The company serves two principal customer segments — homeowners seeking credit-agnostic improvement financing and home improvement contractors seeking guaranteed payment and customer financing tools — and operates under the CaliforniaFIRST (California) and RenewPACE Florida sub-brands. Previously known as Renewable Funding LLC, the company secured $70 million in Series D funding in February 2016 at a $280 million post-money valuation with Kleiner Perkins Caufield & Byers among the investors. Cumulative operational impact cited by the company includes 27,000 local jobs created, 2 million metric tons of greenhouse gas reduction, and 2.7 billion gallons of water saved through financed projects.
AFC First Financial firmographics
Firmographics- Name
- AFC First Financial
- Legal name
- Renew Financial Group LLC
- Website
- https://afcfirst.com
- Company type
- Private
- Founded year
- 1947
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- AFC First Financial operates a PACE (Property Assessed Clean Energy) financing platform serving homeowners in California and Florida, providing up to $250,000 in property-tax-based financing for home improvements including solar, HVAC, roofing, and hurricane protection, without FICO requirements.
- Ownership category
- akta.pro rank
AFC First Financial industry classification
Industry- Product category
- Specialty Consumer Lending — PACE Home Improvement Financing
- NAICS
- Sales Financing (522220)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Energy Efficiency & Green Retrofit Financing (FSALAHAK)
- akta.pro secondary industry
- Public Mortgage Insurance & Government Credit Guarantee Programs (FSALAKAD)
Keywords
Where AFC First Financial is headquartered
LocationHeadquarters
- HQ city
- Allentown
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
AFC First Financial business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- PACE Assessment Financing: PACE financing is repaid over time as part of property taxes. The loan is secured by a lien on the property and is required to be repaid upon refinance or sale. Provides 100% financing up to $250,000 for home improvements.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | 100% financing up to $250,000 with flexible repayment terms |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels5 records
AFC First Financial product offering
Product offeringCore offering
AFC First Financial delivers PACE (Property Assessed Clean Energy) financing that allows homeowners to fund home improvements — including solar, windows and doors, HVAC, roofing, water-efficient landscaping, and hurricane/earthquake protection — with no money down and repayment structured over time as part of their property taxes. Qualification is not based on FICO credit score, with 100% financing available up to $250,000 per property, subject to underwriting and program licensing in California (CaliforniaFIRST) and Florida (RenewPACE Florida).
Product overview
Renew Financial offers a unified PACE (Property Assessed Clean Energy) financing platform enabling homeowners to finance home improvements with no money down. The core PACE Financing product is complemented by state-specific programs including CaliforniaFIRST and RenewPACE Florida. The platform provides financing across multiple home improvement categories: solar panels, windows and doors, HVAC systems, roofing, landscaping, hurricane protection, and earthquake protection. Financing is repaid through property taxes with qualification based on property equity rather than credit score.
Differentiator
Problem solved
Functional benefit
Brands
- CaliforniaFIRST: PACE financing program specifically for California homeowners seeking home improvements and clean energy upgrades.
- RenewPACE Florida
Products and services
- PACE Home Improvement Financing A Property Assessed Clean Energy (PACE) financing program allowing homeowners to fund qualifying home improvements with no money down, repaid over time through their property taxes. Qualification is not based on credit score, and underwriting requires no FICO, with 100% financing available up to $250,000 per property. Financing is secured by a lien on the property and is typically required to be repaid upon refinance or sale.
- CaliforniaFIRST A PACE financing program operated in California that provides property-tax-based financing for residential home improvements including solar panels, windows and doors, HVAC, roofing, and water-efficient upgrades. Operates under California Department of Financial Protection and Innovation PACE Program Administrator License #60DBO-90653.
- RenewPACE Florida A PACE financing program operated in Florida that enables Florida homeowners to finance home improvements — including hurricane protection, solar, and other qualifying upgrades — through property tax assessments on the property.
Quantifiable outcome
- 27,000 local jobs created through financed projects
- +2 more outcomes
Companies that use AFC First Financial
Customer profileSegments2 records
Ideal customer profiles2 records
AFC First Financial technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
AFC First Financial partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- CaliforniaFIRSTcoreCaliforniaFIRST is a PACE financing program in California operated in partnership with Renew Financial. Provides property tax-based financing for home improvements including solar, windows, HVAC, roofing, and water-efficient upgrades.
- RenewPACE FloridacoreRenewPACE Florida is a PACE financing program in Florida operated in partnership with Renew Financial. Enables Florida homeowners to finance hurricane protection, solar, and other home improvements through property tax assessments.
- California Department of Financial Protection and InnovationcoreRegulatory partner providing PACE Program Administrator License #60DBO-90653. Renew Financial operates under state regulatory oversight as a licensed PACE program administrator.
Scale indicators5 records
Recent moves6 records
Expansion highlights4 records
AFC First Financial competitors and assessment
Company assessmentBroad incumbents
- GoodLeap (formerly Loanpal): GoodLeap is a large point-of-sale financing platform for sustainable home improvements (solar, roofing, HVAC), serving both PACE-eligible and non-PACE customers with contractor-referred origination — overlapping heavily with Renew Financial's product mix and channel model.
- LightStream (Truist): LightStream is an online unsecured personal-loan lender that funds home improvements among other consumer uses, offering a frictionless digital alternative to PACE for credit-qualified homeowners — overlapping target customer with Renew Financial.
- GreenSky (Goldman Sachs): GreenSky is a large fintech lender offering home-improvement point-of-sale financing through contractor networks, with a broader geographic footprint and balance sheet than Renew Financial but a similar contractor-referred, homeowner-targeted model.
Emerging players
- Mosaic: Mosaic provides residential solar and home-improvement financing, historically focused on solar loans with a digital application flow that competes for the same energy-upgrade homeowner segment Renew Financial addresses.
- Fortifi: Fortifi provides software and embedded financing infrastructure for home-improvement contractors, enabling lenders to offer financing at the point of sale — competing with Renew Financial's contractor-portal origination model at the channel layer.
Direct peers
- EnerBank USA: EnerBank USA is a specialized home-improvement lender offering unsecured installment loans to homeowners through contractor relationships, providing a non-PACE financing alternative for the same contractor-referred solar, HVAC, and roofing projects.
- AFC First Financial: AFC First Financial is a Pennsylvania-based private energy-efficiency and renewable lender founded in 1947, operating in the same clean-energy/energy-efficiency residential lending category as Renew Financial but concentrated in the Mid-Atlantic region.
- Ygrene Energy Fund: Ygrene is one of the largest national PACE financing administrators for residential energy-efficiency and resilience upgrades, operating in multiple states with a property-tax assessment mechanism directly comparable to Renew Financial's CaliforniaFIRST and RenewPACE Florida programs.
- Hearth: Hearth operates a home-improvement financing marketplace that connects homeowners with lenders and contractors, directly competing for the same 'homeowner financing a renovation' use case that Renew Financial serves through its PACE platform.
Others
- Inclusive Prosperity Capital: Inclusive Prosperity Capital is a mission-driven green-finance intermediary supporting C-PACE and clean-energy lending programs with public-purpose capital — a thematic ecosystem peer that channels institutional funding into the same asset class Renew Financial originates.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
AFC First Financial social profiles
Digital presenceAFC First Financial compliance and trust
Trust signalCompliance2 records
AFC First Financial financial estimates
Financial estimateRevenue estimate
Valuation estimate
AFC First Financial leadership team
Management profileNumber of profiles
AFC First Financial funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
AFC First Financial M&A and investment
M&A and investmentM&A
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about AFC First Financial
What does AFC First Financial do?
AFC First Financial delivers PACE (Property Assessed Clean Energy) financing that allows homeowners to fund home improvements — including solar, windows and doors, HVAC, roofing, water-efficient landscaping, and hurricane/earthquake protection — with no money down and repayment structured over time as part of their property taxes. Qualification is not based on FICO credit score, with 100% financing available up to $250,000 per property, subject to underwriting and program licensing in California (CaliforniaFIRST) and Florida (RenewPACE Florida).
Is AFC First Financial a public or private company?
AFC First Financial is a private company. It is classified as venture growth investor backed and is currently operating.
When was AFC First Financial founded?
AFC First Financial was founded in 1947. It employs 11 to 50 people.
Where is AFC First Financial based?
AFC First Financial is headquartered in Allentown, United States, in the North America region.
How does AFC First Financial make money?
One revenue line is on record: PACE Assessment Financing.
Who are AFC First Financial's main competitors?
Broad incumbents on record are GoodLeap (formerly Loanpal), LightStream (Truist) and GreenSky (Goldman Sachs). Emerging players are Mosaic and Fortifi. Direct peers are EnerBank USA, AFC First Financial, Ygrene Energy Fund and Hearth. Inclusive Prosperity Capital is listed as an others.
Does AFC First Financial have an API?
No public API is recorded for AFC First Financial.
What industry is AFC First Financial in?
AFC First Financial's product category is Specialty Consumer Lending — PACE Home Improvement Financing. Its primary akta.pro industry code is FSALAHAK, Energy Efficiency & Green Retrofit Financing, with a secondary code of FSALAKAD, Public Mortgage Insurance & Government Credit Guarantee Programs. Its NAICS code is 522220 and its SIC code is 6141.