Financing, webinar to help businesses implement energy-efficiency projects
Milwaukee Mayor Tom Barrett announced four innovative business financing products as part of the Milwaukee Energy Efficiency (Me2) program. These products are designed to assist just about any type of business or non-residential property located in the City of Milwaukee make energy-efficiency projects a reality.
“Smart businesses understand the impact energy efficiency can have on the bottom line,” said Mayor Barrett. “Lack of affordable financing, however, can deter businesses from implementing energy-efficiency projects. These Me2 business initiatives address that funding barrier and help businesses make energy-efficiency upgrades that reduce operating costs.”
Me2 offers Smart Security Financing that provides collateral on behalf of businesses implementing energy-efficiency projects, allowing for no-money-down financing and mitigating a financial institution’s risk. Other financing opportunities include the Small Business Financing program where businesses can secure low interest, no-money-down loans for energy-efficiency projects through the program’s partnership with Summit Credit Union.
The program also includes a special Clean Energy Financing option that allows property owners to pass a monthly charge to tenants to offset the costs of energy-efficiency improvements while the tenant pays lower energy bills. “It’s a win-win option that helps tenants save money and property owners add value to their building,” Mayor Barrett said.
The program also offers businesses an Interest Rate Buy Down option allowing them to take advantage of an energy related financing interest rate that is reduced by 2-3%. For all programs but the Small Business Financing option, business owners can work with the financial institution of their choice.
“Saving energy is how Milwaukee businesses can shield themselves from rising energy expenses. These financing products, combined with other existing energy-efficiency incentives, such as those offered by We Energies and Focus on Energy, can mean the difference between a business moving forward with an energy-efficiency project or not,” Mayor Barrett said.
Business owners interested in taking advantage of Me2’s financing products are encouraged to act quickly as these offers are available for a limited time. Me2 will help businesses get started today. Additionally, a free webinar for business owners interested in the process will take place on Tuesday, October 11, 2011 at 12:00 p.m. Visit www.smartenergypays.com/businesses or call (877) 399-1203 to register.