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Energy Efficiency Revolving Loan Fund

INTERESTED IN MAKING ENERGY EFFICIENT UPGRADES TO YOUR FACILITY, BUT NEED ACCESS TO CAPITAL?
The Energy Efficiency Revolving Loan Fund is provided by Venture North and Traverse City Light & Power. Available to TCL&P commercial and industrial utility customers, the fund offers lowinterest loans for businesses that are investing in energy efficient measures identified through a comprehensive energy assessment or audit.

PROJECT SELECTION PROCESS

Potential applicants will be required to complete a pre-qualification application via Venture North’s web-site. A designated Loan Review Committee will review and score qualified applications based on criteria such as, but not limited to:

  • Must be a confirmed TCL&P commercial/industrial customer
  • Completion of a comprehensive energy assessment or audit
  • Proven reduction of electric demand at peak times
  • Projects must qualify for an incentive through TCL&P’s Energy Smart Program*

TERMS, INTEREST RATES, AND FEES

Loan conditions will vary based on type of project and the needs of the borrower. The following identifies the average size, term, and interest rate:

  • Loan Size: Up to $50,000
  • Loan Term: Up to 5 years
  • Interest Rate: Up to 5% – to be determined by the designated Loan Committee.
  • Customers may be required to pay a loan application fee.
*Learn more about TCL&P’s Energy Smart Program, and incentives offered to customers for becoming more energy efficient, on the web at www.TCLP.org or by calling 231.922.4940.

For Details, Contact

Laura Galbraith, Executive Director
laura@venturenorthfunding.org
231.995.7110

venturenorthfunding.org

Formerly the Traverse Bay Economic Development Corporation and Chamber Foundation