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EY Entrepreneur Of The Year Awards

Renovate America

JP McNeill and Nick Fergis

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JP McNeill and Nick Fergis formed Renovate America in June 2008. McNeill is the CEO and Fergis is the COO of this technology company, which provides financing for efficiency improvement projects for homeowners. Since no simple way existed for a homeowner to obtain financing for such projects, McNeill and Fergis created a new company in an entirely new industry. To develop its technology, Renovate America had to work with notoriously difficult government agencies and title companies that were resistant to change. They developed a software platform to link homeowners with contractors and financing options for home improvements that save water and energy. Now, a homeowner only has to wait seconds to see if they are approved for financing for a project, and Renovate America can prepare a property tax assessment within 48 hours to actually fund it.

JP McNeill

McNeill practices and preaches perseverance. Renovate America was born in McNeill’s garage with seed money he and his wife provided. From 2009 to 2012, McNeill and Fergis raised equity to fund the development of their software platform, enlist the first municipal clients, and engage a rating agency and numerous law firms to ensure the legal standing and marketability of their financing products. The firm prides itself on excellent customer service and responsiveness. After receiving feedback from consumers and contractors, the company made significant modifications to its platform.

Nick Fergis

The firm treats employees well, providing exceptional benefits, including lunch for the entire team seven days a week. Everyone in the company contributes to the creation of new technology and inventiveness is rewarded. Employees on the entry level can pursue their ideas all the way to management positions.

The company has transformed the home improvement industry and aspires to become the primary resource for home improvement education, products, services and financing. In order to deliver a scalable financing product capable of funding trillions of dollars, capital must be accessible through the securitization market. In March 2014, Renovate America completed the first ever securitization of Property Assessed Clean Energy (PACE) financing.

Renovate America has revolutionized the improvement industry, earned dozens of awards, and financed millions of improvements. Today, the company is the leader in providing residential PACE Financing, partnering with more than 280 cities. It continues to expand nationally and “Renovate America.”

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