In this report, the Institute’s Council on Finance, Insurance and Real Estate (CFIRE) issued findings and recommendations on the financing of small commercial retrofit projects for energy efficiency. Although small commercial buildings (less than 50,000 square feet) make up the majority of the nation’s building stock, investments in energy-efficiency retrofit projects for this vast segment of the building stock have lagged behind those for larger buildings. This CFIRE report identifies several barriers to investment in such retrofits. Key issues include the costs and complexity associated with relatively small loan sizes as well as the challenge owners have in understanding and trusting predicted retrofit outcomes.