$3M NH Energy Fund Opens

Good news for NH nonprofits and businesses–low interest loans are now available for energy improvements to help with the upfront costs of energy efficiency and renewable energy, saving energy and money in the long term. Proposals due April 30.

Over $3 Million Available for Businesses and Nonprofits to Finance Energy Improvements

CONCORD, NH — New Hampshire businesses and nonprofit organizations are invited to submit proposals for low-interest loans for energy-efficiency improvements and renewable-energy projects.

The Enterprise Energy Fund was created by a $3.5-million award to the Community Development Finance Authority (CDFA) by the Office of Energy and Planning‘s State Energy Program, from the American Recovery and Reinvestment Act. The fund is a low-interest loan and grant program to help finance energy improvements in buildings owned or leased by small, medium, and large businesses and nonprofits statewide.

Of the $3.5 million, $2.5 million will go to large commercial businesses and nonprofits. The remaining $1 million will be administered by CDFA’s partner organization, the New Hampshire Community Loan Fund, for small commercial businesses and nonprofits.

The majority of the funds will be loaned to businesses and nonprofits to help them reduce their energy costs and consumption. The loans will range from $10,000 to $500,000, with interest rates ranging between two and four percent.

A small portion of the fund will pay for energy audits, provide down payments on energy efficiency projects to businesses and to nonprofits that provide essential services and have been hardest hit by the recession, leverage significant private sector funds, and encourage investments in renewable energy.

See the full press release from CDFA here.