Enigin Update - Minnesota Businesses get Energy Efficiency Funding
TO SAVE money and improve operational efficiency, the U.S. state of Minnesota's businesses are thinking “green” and now have access to funding to improve energy efficiency.
The Community Reinvestment Fund, USA (CRF), a nonprofit organisation that helps small businesses gain access to capital, has launched the Green Loan for Businesses; a pilot loan program for small businesses in Minnesota seeking to reduce energy costs and achieve their sustainability goals.
The programme targets business owners who want to make significant energy-saving improvements to their business facilities, allowing them to finance real estate and equipment upgrades or improvements. Unlike other initiatives, which can involve complicated applications or reporting requirements, the pilot program is a simple solution for business owners who need between $50,000 and $300,000 for green investments.
To fund the program, CRF received a $500,000 grant from the U.S. Department of Energy and the Minnesota Department of Commerce through the American Recovery and Reinvestment Act of 2009 (ARRA).
“Providing funding for energy financing and ‘green-dollar’ jobs strengthens Minnesota’s small businesses and gives them the resources to operate in an eco-friendly manner,” said Commissioner Mike Rothman of the Minnesota Department of Commerce, “and we are proud to work with CRF.”
“After more than 20 years of serving the capital needs of small businesses, CRF and its partners are uniquely suited to meet the growing demand for green building loans that will help spur development in communities throughout Minnesota,” said Frank Altman, president and chief executive officer of CRF.
Enigin Distributors supply leading-edge energy efficiency solutions and technology from Enigin to businesses and organisations, providing a rapid ROI through substantial energy use reduction and the ensuing energy costs - funding such as from CRF only makes the decision to improve energy efficiency and reduce costs simple.
Picture of Downtown Minneapolis (Stan Oleson) / CC BY-SA 3.0
