PowerBank Completes Loan Conversion for Geddes Project, Amount $920,000
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 02 2026
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Should l Buy SUUN?
PowerBank announced that is has received $920,000 from the closing of the term conversion of the construction loan for the Geddes Project in upstate New York. The loan was initially announced by PowerBank on June 24, 2024. PowerBank entered into a loan agreement with Seminole Financial Services for an initial $2.6M construction to mini-perm loan which was used to complete construction of the Geddes Project located in Upstate, New York. This funding structure enables PowerBank to efficiently transition from construction financing to long-term debt to support operations .Seminole Financial Services was founded with the goal of financing Renewable Energy and Real Estate projects across the U.S. Under the terms of the Loan, upon the substantial completion of the Project receiving permission to operate, the loan was eligible to be converted into a mini-perm loan subject to the satisfaction of certain customary conditions. The Geddes Project was announced to be fully operational on July 25, 2025 and the conversion to a mini-perm loan has now been completed. As a result of conversion, the principal amount of the Loan is $1,695,000 and it has a maturity date of January 20, 2032.
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Analyst Views on SUUN
Wall Street analysts forecast SUUN stock price to rise
1 Analyst Rating
1 Buy
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Moderate Buy
Current: 1.220
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6.00
Averages
6.00
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6.00
Current: 1.220
Low
6.00
Averages
6.00
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6.00
About SUUN
PowerBank Corp, formerly SolarBank Corporation, is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the United States. The Company develops solar, battery energy storage systems (BESS) and EV charging projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. It has a diverse portfolio of projects across multiple North America markets including projects with utilities, host off-takers, community solar, and virtual net metering projects. The Company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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