Enigin Update - Milwaukee Launches Energy Efficiency Programme for Businesses
THE Mayor of Milwaukee, U.S., Tom Barrett has announced four innovative business funding products which is part of the Milwaukee Energy Efficiency (Me2) program.
The financing is purposed to assist businesses and other non-residential properties in the city to complete energy-efficiency projects.
BizTimes.com reports Barrett as saying: “Smart businesses understand the impact energy efficiency can have on the bottom line.
“Lack of affordable financing, however, can deter businesses from implementing energy-efficiency projects. These Me2 business initiatives address that funding barrier and help businesses make energy-efficiency upgrades that reduce operating costs."
Me2 offers Smart Security Financing which will provide collateral for businesses who implement energy-efficiency projects. This allows for no deposit financing while mitigating a financial institution’s risk.
Other financing will include the Small Business Financing programme where businesses can secure low interest, no deposit loans for energy-efficiency projects through Me2s partnership with Summit Credit Union.
The programme also offers a special Clean Energy Financing option, which allows property owners to charge tenants a monthly amount to offset any costs of energy-efficiency improvements, while the tenant pays lower energy bills.
Barrett admitted: “It’s a win-win option that helps tenants save money and property owners add value to their building.”
The programme can also provide businesses an Interest Rate Buy Down option, which allows them to take advantage of an energy-related finance interest rate, which is reduced by 2 to 3 percent.
Barrett added: “Saving energy is how Milwaukee businesses can shield themselves from rising energy expenses.
“These financing products, combined with other existing energy-efficiency incentives, such as those offered by We Energies and Focus on Energy, can mean the difference between a business moving forward with an energy-efficiency project or not.”
Enigin Distributors in the region can help local businesses and building owners benefit from these initiatives and gain control of their energy use while improving energy efficiency, all through applying Enigin plc's solutions and systems to their facilities - saving energy, emissions and money.
Picture of Milwaukee Lakeside by kke227 reproduced under CCL.
