Renovate America, a U.S. provider of home-improvement financing, announced that it has closed a $40 million credit facility increase with M&G Prudential, with ING Capital LLC as the deal agent. The financing will support the continued expansion of HERO, the nation's most widely used Property Assessed Clean Energy (PACE) product.

ING Capital LLC brought in Prudential as a syndicate partner to build on an existing multi-year $40 million credit facility, bringing the total available capital under the line to $80 million. It bolsters Renovate America's financial position with enhanced liquidity and further diversifies the company's funding profile.

Since launching six years ago, HERO financing has been used to make energy, efficiency and resiliency improvements across more than 110,000 homes in California, Florida and Missouri.

HERO empowers homeowners to replace their windows and doors, upgrade their HVAC, go solar, and more, and pay for the improvements over time at a fixed interest rate via an additional, voluntary line item on their property taxes.