Community Capital New York has signed an agreement with the New York State Energy Research and Development Authority (NYSERDA) to provide small businesses, affordable housing developers, and nonprofits with low-interest financing options to help them pay for energy-efficiency and renewable energy projects that can help reduce their operating costs year after year.
Working with NYSERDA’s Small Commercial Energy-Efficiency Financing Program, Community Capital New York will offer loans to small businesses in Westchester, Rockland, Orange, Dutchess, Putnam, Sullivan and Ulster Counties for building upgrades that save energy, including high-efficiency lighting; motors; heating, ventilation, air conditioning units; as well as renewable energy systems such as solar photovoltaic (PV) systems. Community Capital New York will also provide low-interest financing to be used to improve nonprofit facilities and affordable housing.
“We are delighted to partner with NYSERDA to assist our business and property owners to improve their energy efficiency. We know the savings these kinds of improvements can make have a positive effect on the bottom line, and on the planet!” We are eager to work with interested property and business owners, to make the process smooth and efficient, and to put these loan dollars to work on behalf of our clients, ”said Kim Jacobs, Executive Director of Community Capital New York.
Small businesses with 100 employees or fewer are eligible for low-interest financing. Community Capital New York is partnering with NYSERDA through New York State’s Green Jobs-Green New York Act, which makes the low interest rates possible.
By partnering with NYSERDA Community Capital New York can offer borrowers with NYSERDA-approved energy efficiency and renewable energy project loans of up to $100,000 at approximately half the market interest rate.
Before applying for financing, small business must have their energy efficiency or renewable energy project approved by NYSERDA. Getting an energy assessment is the first step for customers interested in reducing their energy consumption. The NYSERDA Small Commercial Energy Efficiency Program offers free energy assessments to small business with 10 employees or fewer and average electric demand of 100 kilowatts or less. Energy assessments identify energy-efficiency improvements that can help organizations improve their efficiency and save on operating costs. Small Commercial Energy Efficiency Program assessments also identify available financing incentives to help small businesses reduce the cost of their energy-efficiency upgrades.
For more information about how you can save money while saving energy see the offerings under the “Small Commercial” heading on NYSERDA’s webpage: http://www.nyserda.ny.gov/