Businesses eligible for energy loans from state
Two new programs will help Colorado businesses save money and energy.
Businesses that register with the state’s Green Colorado Credit Reserve can get up to $100,000 in loans to pay for energy-efficiency projects in an office or manufacturing facility, according to a news release from Gov. Bill Ritter’s office. Participating lenders will get a 15 percent loan loss reserve contribution for each loan registered with the program.
The Colorado Housing and Finance Authority will administer the program, and the Department of Energy will contribute $1 million via the American Recovery and Reinvestment Act to fund the reserve contributions.
The Housing and Finance Authority also will administer the new Governor’s Energy Office Revolving Loan Program. The program will use $13 million in ARRA funds awarded to the Governor’s Energy Office’s State Energy Program to pay for energy-efficiency and renewable-energy projects.
Ritter said the programs will benefit businesses of all sizes during tough economic times.
“We are helping Colorado companies sustain operations during the economic downturn, improve energy efficiency and thrive in the New Energy Economy,” he said in a news release. “Most importantly, these loans will help businesses create jobs.”