Pathway Lending will be hosting two events to promote its new Energy Efficiency Loan Program in Chattanooga next week.
Wednesday September 8th, 2010: Free Lunch & Learn Event. 11am-1pm at Sticky Fingers BBQ, 2031 Hamilton Place Blvd. RSVP: jen.mclachlan@pathwaylending.org or 615.425.7171
Friday September 10th, 2010: Free Breakfast Event with the Chattanooga Chamber of Commerce. 8am-10am. 811 Broad Street. RSVP: 423.756.2121
Energy Efficiency Loan Fund Workshop Offered To Chattanooga Businesses
posted September 2, 2010
Pathway Lending will host a workshop in Chattanooga to inform and educate local businesses about how to access a new $50 million Energy Efficiency Loan Program announced on Aug. 25 by Governor Phil Bredesen.
The workshop, with Clint Gwin, president of Pathway Lending speaking, will be on Wednesday, from 11 a.m.–1 p.m. at Sticky Fingers BBQ, 2031 Hamilton Place Blvd.
Utilizing a unique model, Pathway Lending’s Energy Efficiency Loan Program enables businesses to achieve significant, long-term energy savings while increasing their productivity and profitability. The program offers below-market rate loans with terms extending to ten years.
Loans can finance up to 100% of costs on projects including building retrofits, equipment replacements or upgrades, lighting and renewable generation projects. The loans may be repaid with the energy costs savings derived from each project.
Presenters will explain how organizations can apply for loans and answer any questions people local businesses might have. With first round applications due by Nov. 1, the program is available to any business seeking to reduce energy consumption in their Tennessee facilities through building retrofits and upgrades, equipment replacement purchases or other energy efficiency or renewable energy projects.
The state of Tennessee, Pinnacle National Bank, TVA, the US Department of Energy, the US Economic Development Administration and Pathway Lending joined together to create this unprecedented program.
Founded in 1999, Pathway Lending is a Community Development Financial Institution that provides loans to businesses lacking access to traditional financing options throughout Tennessee.
Friday, September 3, 2010
Thursday, September 2, 2010
Energy-efficiency loans will help businesses and state
In case you missed it...here's Clint's Op-Ed piece from the Tennessean.
Thanks to the leadership of Gov. Phil Bredesen and the state legislature, Tennessee businesses will now have access to energy-efficiency financing at an unprecedented level.
Through this leadership, the state is creating a unique public-private collaboration to develop a model for the rest of the nation to follow. This first-of-its-kind collaboration is leveraging state funds with capital from the Tennessee Valley Authority, Pinnacle National Bank and Pathway Lending to create a targeted loan program for financing energy-efficiency improvements. This program is receiving additional support from the U.S. Economic Development Administration and the U.S.
Department of Energy as a possible blueprint for other states.
Why is this important now? As many businesses understand, energy costs are rising and corporate budgets for capital projects are shrinking, and, as the Pew Foundation recently reported, lack of financing is the No. 1 barrier to implementing energy-efficiency projects.
This program will bring businesses in our state what is now unattainable — access to loan capital to finance energy-efficiency and renewable energy projects. The program will provide below-market-rate loans for improvements ranging from $20,000 to $1 million. Whether it's building retrofits, equipment upgrades or adding renewable energy generation, businesses can now take the next step in achieving the significant, long-term energy savings they've been demanding, all the while
becoming more competitive and reducing impacts on the environment.
Long-term savings are huge
The study "Energy Efficiency in the South," released in April, says that by reducing the growth of electricity consumption, Tennesseans could save $1.6 billion a year by 2020 and $3.1 billion a year by 2030. More importantly, energy-efficiency projects create and retain jobs in Tennessee. These economic impacts are felt locally where trained contractors, consultants and installers are needed for projects. Over the next 10 years, it is expected that this loan program will generate more than $100
million in loans and will create and retain more than 3,500 jobs while decreasing demand for electric power generation and reducing environmental impacts.
Tennessee has made significant strides to become a national leader in sustainability and green business over the past few years. Major corporations specializing in solar energy are moving to our state. Organizations like the Southeastern Energy Efficiency Alliance are educating businesses on the value of energy efficiency. Oak Ridge National Laboratory is using commercially available and lab-developed technology for energy-efficiency efforts such as the Net-Zero Energy Building and
Sustainable Campus Initiative, all of which have been recognized as potential national models.
When you add up the opportunities, energy efficiency is a smart decision for business and the state economy and an even better decision for the environment.
At Pathway Lending, we have been committed to bringing access to capital to Tennessee businesses since 1999, and this program is no different. We are
launching an online application process and look forward to working with businesses from sole proprietors to corporations and everyone in between in their efforts to become more energy efficient, environmentally friendly and globally competitive.
Thanks to the leadership of Gov. Phil Bredesen and the state legislature, Tennessee businesses will now have access to energy-efficiency financing at an unprecedented level.
Through this leadership, the state is creating a unique public-private collaboration to develop a model for the rest of the nation to follow. This first-of-its-kind collaboration is leveraging state funds with capital from the Tennessee Valley Authority, Pinnacle National Bank and Pathway Lending to create a targeted loan program for financing energy-efficiency improvements. This program is receiving additional support from the U.S. Economic Development Administration and the U.S.
Department of Energy as a possible blueprint for other states.
Why is this important now? As many businesses understand, energy costs are rising and corporate budgets for capital projects are shrinking, and, as the Pew Foundation recently reported, lack of financing is the No. 1 barrier to implementing energy-efficiency projects.
This program will bring businesses in our state what is now unattainable — access to loan capital to finance energy-efficiency and renewable energy projects. The program will provide below-market-rate loans for improvements ranging from $20,000 to $1 million. Whether it's building retrofits, equipment upgrades or adding renewable energy generation, businesses can now take the next step in achieving the significant, long-term energy savings they've been demanding, all the while
becoming more competitive and reducing impacts on the environment.
Long-term savings are huge
The study "Energy Efficiency in the South," released in April, says that by reducing the growth of electricity consumption, Tennesseans could save $1.6 billion a year by 2020 and $3.1 billion a year by 2030. More importantly, energy-efficiency projects create and retain jobs in Tennessee. These economic impacts are felt locally where trained contractors, consultants and installers are needed for projects. Over the next 10 years, it is expected that this loan program will generate more than $100
million in loans and will create and retain more than 3,500 jobs while decreasing demand for electric power generation and reducing environmental impacts.
Tennessee has made significant strides to become a national leader in sustainability and green business over the past few years. Major corporations specializing in solar energy are moving to our state. Organizations like the Southeastern Energy Efficiency Alliance are educating businesses on the value of energy efficiency. Oak Ridge National Laboratory is using commercially available and lab-developed technology for energy-efficiency efforts such as the Net-Zero Energy Building and
Sustainable Campus Initiative, all of which have been recognized as potential national models.
When you add up the opportunities, energy efficiency is a smart decision for business and the state economy and an even better decision for the environment.
At Pathway Lending, we have been committed to bringing access to capital to Tennessee businesses since 1999, and this program is no different. We are
launching an online application process and look forward to working with businesses from sole proprietors to corporations and everyone in between in their efforts to become more energy efficient, environmentally friendly and globally competitive.
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