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.
For Details, Contact
Formerly the Traverse Bay Economic Development Corporation and Chamber Foundation