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
- Create jobs
- 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:
Download the application
