Revolving loan to help small business finance energy efficiency, clean energy projects
Purpose:
Revolving loan for Neighborhood Development Center (NDC) to provide small businesses loans for $5k to $250k through its Clean Energy Loan Program for energy efficiency and clean energy projects to save energy and save money.
Loans from NDC will benefit small businesses located in environmental justice communities.
NDC
Energy Savings
- Reductions to energy costs will be determined for each individual small business.
- Energy efficiency can help reduce commercial business energy use by up to 30% (Energy Star).
ENERGY SAVINGS FOR SMALL BUSINESSES IN ENVIRONMENTAL JUSTICE COMMUNITIES
NDC defines a small business as a business with annual sales of up to $2.5 million and having 50 or fewer full-time employees.
NDC’s Clean Energy Loan Program will finance a wide range of energy-related projects, such as:
- Energy-efficient equipment, including HVAC systems, lighting, refrigeration
- Building retrofits for energy efficiency
- Installation of solar, energy storage or other renewable energy
- Electric vehicles for business
About Neighborhood Development Center
- Nonprofit launched in 1993.
- U.S Treasury-certified Community Development Financial Institution.
- Lending: NDC provides financing for start-up and existing businesses, including for clean energy projects.
- Incubator: NDC owns, develops and manages business incubator spaces for neighborhood businesses.
- NDC provides a wide range of training and business services.
KEY PROJECT PARTNERS:
To implement its Clean Energy Loan Program, NDC is partnering with:
- Small Business Equitable Energy Decarbonization Initiative
- Energy Smart services, Minnesota Chamber of Commerce Environmental Sustainability Foundation