The Town of Carrboro has created an energy efficiency loan program for small commercial business owners. Initial funding for this program has been provided by the U.S. Department of Energy through a grant made possible by the American Recovery and Reinvestment Act and by the Town. Carrboro has created the Energy Efficiency Revolving Loan fund, building on the success of the Town’s small business Revolving Loan Fund.
The goals of the fund are to:
Reduce energy consumption and greenhouse gas emissions
Lower utility bills
Assist in the development of a local building retrofit market
Use the revolving loan mechanism to create a self-sustaining program
Program participation (commercial loan) eligibility:
Small commercial buildings in the town limits with 50 or fewer employees (loan)
Commercial Loan Terms:
Competitive and negotiable interest rate and payback, nominally 3% and 10 year payback
Minimum loan amount $1500
Secured with note on equipment
Application: Click here to download the application.