Self-Help Energy Loan Fund
Self-Help is deploying a $15 million loan fund for energy efficiency and renewable energy improvements, created with a $5.5 million in funding from Bank of America.
Target Locations: The Energy Loan Fund focuses on eight target cities. Other projects in North Carolina may also be eligible either for the Energy Loan Fund or for other types of business loans from Self-Help.
· Charlotte
· Charlotte Energy Loan Fund Fact Sheet
· Washington DC
· Atlanta
· Chicago
· Houston
· Miami
· San Francisco
· Los Angeles
Who is Eligible? Small businesses, child care facilities, charter schools, non-profits, commercial building owners, and multifamily housing owners and developers.
What types of projects are eligible? The Energy Loan Fund is intended to finance a range of small and large projects in existing buildings, such as:
- Systematic energy and water-efficiency investments guided by an energy audit.
- Green renovations using third party standards such as LEED, Coalition for High Performance Schools, or Energy Star.
- Renewable energy installations on rooftops.
- Energy investments as part of other small businesses loans, such as lighting upgrades bundled with a loan for working capital.
Loan size will range from $5,000 micro loans up to $15 million for large renovations.
What energy measures are eligible? We will encourage borrowers to investigate cost-effective investments in HVAC, lighting, water efficiency, envelope improvements, and retro-commissioning. Renewable energy, geothermal, and costs of third party certification are eligible as well.
Large projects will be required to show compliance with a widely accepted standard for energy and water efficiency, such as Coalition for High Performance Schools, ASHRAE Advanced Design Guides, Energy Star, or LEED.
Borrowers will need to share monthly electric, gas, and water data via an energy dashboard.
Terms: With each business and nonprofit customer, we examine the financing needs and propose a tailored solution. Qualifying loans will receive an interest rate discount of 1.5% for the energy portion of their loan.
Contact a Self-Help loan officer to discuss the right solution for your project.
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